KBR to Support EET Hydrogen in HyNet's Decarbonization Efforts
KBR Inc. KBR secured a blue hydrogen process technology and front-end engineering design (“FEED”) contract from EET Hydrogen. This contract is for EET Hydrogen’s upcoming HPP2 low-carbon hydrogen facility as part of the HyNet project, the U.K.'s leading industrial decarbonization project.
Per the contract, KBR will provide technology licensing, its proprietary engineering design, equipment, catalyst, and FEED services for a potential plant capacity of up to 1000 Megawatts. This facility will be situated at the Stanlow Manufacturing Complex. The HyNet initiative encompasses hydrogen production, supply and carbon capture and sequestration (CCS), aimed at supporting the decarbonization of industries with high energy consumption in this concentrated conventional energy usage region.
Focus on Decarbonization
KBR's determination to lower emissions, product diversification, energy efficiency and more sustainable technologies and solutions have been driving its performance. The demand for the company’s technologies across ammonia for food productions, olefins for non-single-use plastics and refining for product diversification and more green solutions to meet tighter environmental standards have been going strong.
KBR has been working on multiple initiatives and contracts to expand its low-carbon ammonia offerings for energy transition, marking a crucial step towards global decarbonization efforts. On Sep 19, 2023, the company secured a license and engineering design contract from Hanwha Impact Corporation for the world's first commercial ammonia cracking unit using its H2ACT technology in Daesan, Republic of Korea.
KBR is poised to contribute its proprietary hydrogen expertise and technology to support EET Hydrogen in this significant decarbonization initiative. This strategic move represents KBR's commitment to assisting clients in meeting their ESG and business objectives.
Image Source: Zacks Investment Research
Shares of the company have rallied 11.1% in the past six months compared with the industry’s 9.8% increase. The growing demand for its Sustainable Technology Solutions, mainly from engineering and professional services and technology licensing, will likely add to its growth in the upcoming periods.
Zacks Rank & Key Picks
KBR currently sports a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Zacks Construction sector are:
Boise Cascade Company BCC sports a Zacks Rank #1 (Strong Buy). BCC has a trailing four-quarter earnings surprise of 25.5% on average. Shares of BCC have gained 72.9% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for BCC’s 2023 sales and earnings per share (EPS) indicates a decline of 20.1% and 45.5%, respectively, from the year-ago period’s levels.
EMCOR Group, Inc. EME flaunts a Zacks Rank #1. It has a trailing four-quarter earnings surprise of 17.2%, on average. Shares of EME have risen 79.7% in the past year.
The Zacks Consensus Estimate for EME’s 2023 sales and EPS suggests growth of 11.3% and 35.4%, respectively, from the year-ago period’s levels.
TopBuild Corp. BLD flaunts a Zacks Rank #1. It has a trailing four-quarter earnings surprise of 14.1% on average. Shares of BLD have surged 49.9% in the past year.
The Zacks Consensus Estimate for BLD’s 2023 sales and EPS indicates gains of 3.3% and 8.4%, respectively, from the year-ago period’s levels.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
KBR, Inc. (KBR) : Free Stock Analysis Report
EMCOR Group, Inc. (EME) : Free Stock Analysis Report
Boise Cascade, L.L.C. (BCC) : Free Stock Analysis Report
TopBuild Corp. (BLD) : Free Stock Analysis Report
