Press Release

HOUSTON, November 9, 2023 – KBR (NYSE: KBR) announced today it has been awarded a Front-End Engineering Design (FEED) contract by Fidelis New Energy for Project Fyrkat, a liquid carbon dioxide (LCO2) receiving terminal at the Port of Aalborg, Denmark. 

Under the terms of the contract, KBR will provide engineering to support the LCO2 handling and storage facility, as Fidelis New Energy aims to help global decarbonization. 

Project Fyrkat is one of the first onshore CO2 sequestration facilities, and is part of a larger initiative, Project Norne, which expects to store more than 20 million tonnes of CO2 per year by 2030. This equates to around half of all Denmark’s yearly emissions. Norne will provide emitting companies with access to an affordable and safe pathway to process their CO2 emissions. 

“We are extremely pleased to be a part of this significant liquid carbon dioxide project in Europe,” said Jay Ibrahim, President, KBR Sustainable Technology Solutions. “KBR’s strategic commitment and expertise in energy transition, coupled with our world-class engineering professionals, enables us to provide cutting-edge solutions to projects that are the key to helping our world achieve net-zero carbon emissions.”

KBR has successfully delivered similar projects involving liquid carbon dioxide. KBR understands the intricacies of such projects, and the criticality in providing a cleaner, more sustainable world.

“We are thrilled to work with KBR for our receiving facility due to their extensive experience and expertise with liquid carbon dioxide, enhancing our ability to service our clients’ marine transported CO2 volumes,” added Ulrik Weuder, Managing Director for Fidelis Europe."Fidelis has been working in Denmark for over two years to position the Norne Carbon Storage Hub as the carbon storage leader in Europe. Norne will enable emitters in Northern Europe to decarbonize both safely and economically."

About KBR

We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 34,000 people performing diverse, complex and mission-critical roles in 33 countries.

KBR is proud to work with its customers across the globe to provide technology, value-added services, and long-term operations and maintenance services to ensure consistent delivery with predictable results. At KBR, We Deliver. 

Visit www.kbr.com   

About Fidelis New Energy

Fidelis New Energy, LLC is an energy transition company driving decarbonization through investments in carbon capture and storage, renewable fuels, and low or negative carbon intensity products in Europe and the United States of America. Fidelis utilizes an "all of the above" energy philosophy with a focus on reducing carbon intensity by innovating new technologies through the integration of proven technologies.

Fidelis New Energy is headquartered in Houston, Texas with offices in Copenhagen, Denmark (European Headquarters), and Baton Rouge, Louisiana. Fidelis also has a portfolio of patent pending technologies providing climate benefits through the innovative integration of proven technologies. To learn more about Fidelis and its technologies, including FidelisH2®, H2PowerCool™, and CO2PowerGrow™ please visit http://www.fidelisnewenergy.com/.

Forward Looking Statements

The statements in this press release that are not historical statements, including statements regarding the company’s contract with Fidelis New Energy, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks, uncertainties and assumptions, many of which are beyond the company’s control, that could cause actual results to differ materially from the results expressed or implied by the statements.These risks, uncertainties and assumptions include, but are not limited to, those set forth in the company’s most recently filed Annual Report on Form 10-K, any subsequent Form 10-Qs and 8-Ks and other U.S. Securities and Exchange Commission filings, which discuss some of the important risks, uncertainties and assumptions that the company has identified that may affect its business, results of operations and financial condition. Due to such risks, uncertainties and assumptions, you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. Except as required by law, the company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

For further information, please contact:

Investors

Jamie DuBray

Vice President, Investor Relations
713-753-5082
Investors@kbr.com

Media

Philip Ivy
Vice President, Global Communications and Marketing 
713-753-3800
MediaRelations@kbr.com