KBR's K-Green Technology Selected for Atlas Agro's Plants
KBR, Inc. KBR to provide the K-GreeN technology for Atlas Agro AG’s planned investment in a series of green nitrate plants.
Under the terms of a memorandum of understanding between KBR and Atlas, KBR will facilitate technology licensing, basic engineering design, proprietary equipment and catalyst for the plants for Atlas’ planned investment in multiple green nitrate plants. KBR’s innovative K-GreeN technology will produce zero-carbon nitrogen fertilizers.
Pertaining to the project, KBR’s president for Technology division, Doug Kelly, said, “We are also confident that we can drive schedule synergies across the series of plants to accelerate availability of clean ammonia globally."
Focus on Zero-Carbon Solutions
KBR, with approximately 50% market share of licensed capacity, has wide-ranging experience supporting sustainable energy projects worldwide. The company has licensed, engineered or constructed more than 250 grassroot ammonia plants worldwide since 1943.
The determination to lower emissions, product diversification, energy efficiency, and more sustainable technologies and solutions have been driving KBR’s performance. The demand for the company’s technologies across ammonia for food production, olefins for non-single-use plastics and refining for product diversification, and more green solutions to meet tighter environmental standards has been going strong. A strategic shift to intellectual property-enabled maintenance is gaining traction, and KBR continues to see increasing activity across the advisory portfolio, particularly in the energy transition.
The company’s Sustainable Technology Solutions (STS) segment (which accounted for 19% of 2022 revenues) is focused on energy transition, net-zero carbon emission consulting and technology-led industrial solutions.
In the fourth quarter of 2022, STS revenues increased 17.3% year over year to $352 million. STS benefited from strong end markets, superior technology offerings and highly sought-after engineering solutions.
As of Dec 31, 2022, the total backlog (including award options) was $19.76 billion compared with $19.71 billion at 2021-end. Of the total backlog, Government Solutions booked $11.54 billion. The STS segment accounted for $4.01 billion of the total backlog.
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Shares of this Zacks Rank #3 (Hold) company have risen 11.6% compared with the Zacks Engineering - R and D Services industry’s growth of 4.7% in the past three months. KBR’s solid backlog level highlights its underlying strength. This was backed by a solid contract-winning spree, strong project execution, and impressive performance of its government and technology businesses.
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