KBR & SolydEra Unite to Revolutionize Green Ammonia Production
KBR, Inc. KBR has signed a Memorandum of Understanding (“MoU”) with SolydEra, a renowned player in the renewable energy sector. This strategic partnership aims to offer a groundbreaking integrated solution for producing cost-effective clean ammonia using renewable energy sources.
Under the terms of the MoU, KBR will incorporate SolydEra's cutting-edge Solid Oxide Electrolysis (SOE) technology into its proprietary K-GreeN process. This collaboration is poised to create highly efficient green ammonia capacity on a global scale, with a key focus on achieving competitive levelized costs for carbon-neutral ammonia production.
KBR's innovative zero-carbon green ammonia technology, when combined with SolydEra's high-efficiency Solid Oxide Electrolyzer, is expected to drive the cost efficiencies necessary to position clean ammonia as a competitive alternative energy source. As demand for ammonia surges amid the global energy transition, this partnership is well-positioned to revolutionize the production of efficient carbon-neutral ammonia.
Ammonia is a crucial chemical produced worldwide, and its demand is set to skyrocket as the world shifts toward renewable energy sources. With SolydEra's pioneering SOE technology, the development of an efficient carbon-neutral ammonia production system takes a significant leap forward.
KBR boasts a rich history of licensing, designing, and engineering ammonia plants since 1943. Green ammonia, as a carbon-free fertilizer, hydrogen transport fuel, or chemical, is increasingly recognized as a vital component in the transition from fossil fuels to renewables. With this strategic partnership, KBR is poised to lead the charge toward a greener, more sustainable future.
Contract Wins & Backlog: A Boon
KBR's determination to lower emissions, product diversification, energy efficiency and more sustainable technologies and solutions have been driving its performance. KBR has been working on multiple initiatives and contracts to expand its low-carbon ammonia offerings for energy transition, marking a crucial step toward global decarbonization efforts.
In the second quarter of 2023, it received $2.2 billion in bookings and options in highly strategic areas, thus taking its backlog and option level to $21.1 billion.
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Shares of this engineering, construction and services firm have gained 9.5% in the year-to-date period compared with the Zacks Engineering - R and D Services industry’s 13% growth. That said, the ongoing contract wins and the solid backlog level will help it to drive growth.
Zacks Rank & Other Key Picks
KBR currently carries a Zacks Rank #2 (Buy).
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Sterling Infrastructure, Inc. STRL currently sports a Zacks Rank of 1. STRL delivered a trailing four-quarter earnings surprise of 14.9%, on average. Shares of the company have surged 213.1% in the past year.
The Zacks Consensus Estimate for STRL’s 2023 sales and EPS indicates growth of 3.9% and 29.4%, respectively, from the previous year’s reported levels.
Fluor Corporation FLR currently sports a Zacks Rank of 1. FLR delivered a trailing four-quarter negative earnings surprise of 5.3%, on average. Shares of the company have gained 22.6% in the past year.
The Zacks Consensus Estimate for FLR’s 2023 sales and EPS indicates growth of 12.6% and 159.8%, respectively, from the previous year’s reported levels.
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