By Sam Boughedda
Investing.com -- KBR Inc (NYSE:KBR), the science, technology, and engineering company, has been awarded a contract to provide services to Shell (LON:RDSa) Shell Global Solutions International B.V. for hydrogen liquefaction development.
KBR shares jumped 2.6% Monday, adding to Friday's 1.5% gain and Thursday's 5% rally.
KBR explained that it will provide technical solutions as part of concept studies to advance technology for large-scale hydrogen liquefaction – an alternative method for long-distance renewable energy transport.
"We are delighted to be part of this project and to support Shell's net zero emissions ambition," said Jay Ibrahim, KBR President of Sustainable Technology Solutions.
"KBR will leverage its hydrogen and cryogenic domain expertise with its digital tools to support Shell in this critical early phase of the development," added Ibrahim.