KBR announced on January 8, 2024, that its K-GreeN® technology has been chosen by a consortium composed of Lotte Chemical, Korea National Oil Corp (KNOC), and Samsung Engineering for Lotte Chemical's H2biscus green ammonia project development in Sarawak, Malaysia. This announcement marks a significant step in the company's journey towards sustainable solutions.

Under the terms of the agreement, KBR will provide a technology license and proprietary engineering design to Lotte Chemical for its green ammonia project. This project is expected to produce 800 KTA of green ammonia from hydropower, showcasing a significant move towards harnessing renewable energy sources.

"We are pleased to work with Lotte Chemical and support their energy transition objectives with our zero-carbon K-GreeN® technology," said Doug Kelly, KBR President, Technology. This partnership not only signifies a shared commitment to sustainability but also demonstrates the potential of green technology in revolutionizing industry processes.

As a leader in advancing clean hydrogen technologies and solutions, KBR views green ammonia as a key enabler to achieving global net-zero targets. The company's comprehensive suite of solutions, including green ammonia solutions and complementary technologies such as H2ACT, positions KBR as the preferred technology licensor for major energy transition projects worldwide.

KBR's history in the ammonia market dates back to 1943. Since then, the firm has licensed, engineered, or constructed more than 250 grassroots ammonia plants worldwide, making it a world leader in ammonia technology. Today, KBR employs around 34,000 people in diverse, complex, and mission-critical roles across 33 countries.

Working with customers across the globe, KBR provides technology, value-added services, and long-term operations and maintenance services. The company is committed to ensuring consistent delivery with predictable results, living up to its motto, "We Deliver."

Given these risks and uncertainties, it is advisable not to place undue reliance on such forward-looking statements. These statements are current as of the date they were made, and except as required by law, the company is under no obligation to revise or publicly update any forward-looking statements for any reason.

This announcement marks an important milestone in KBR's journey towards sustainable solutions and its commitment to advancing clean hydrogen technologies. The firm's partnership with Lotte Chemical represents a shared vision for a greener future, with green ammonia playing a central role in achieving global net-zero targets.

As we move forward into 2024, KBR continues to push the boundaries of innovation, providing technology and services that drive sustainability and deliver tangible results. By harnessing renewable energy sources for projects like the H2biscus green ammonia project, KBR is paving the way for a cleaner, more sustainable future.