KBR and EXELUS Sign Technology Licensing Agreement
HOUSTON - May 28, 2015 - KBR Inc. (NYSE: KBR) announced today that it has signed an alliance agreement with Exelus Inc., a leading developer of green chemical technologies, to allow KBR to exclusively license Exelus' Solid Acid Catalyst (ExSact) for KBR's Solid Acid Alkylation Technology (K-SAAT).
Global demand for motor fuels continues to rise while stricter environmental standards and oxygenate blend requirements for gasoline place a premium on clean burning fuels such as alkylate.
KBR's K-SAAT process is a highly adaptable technology that produces a more cost effective, higher quality alkylate than conventional liquid acid catalysts or other solid acid catalysts.
The key to the K-SAAT technology is ExSact, a revolutionary solid acid catalyst engineered to overcome rapid deactivation limitations of solid-acid catalysts and provide superior alkylation performance. The K-SAAT process is safe and environmentally benign compared with conventional liquid acid catalyst process technologies. This technology continues KBR's history of delivering innovative and groundbreaking technologies to benefit customers facing demanding market situations.
KBR will provide engineering support to deliver the license packages to clients. John Derbyshire, KBR President of Technology and Consulting, explained that "this alliance reflects KBR's commitment to providing innovative technologies that give our customers a competitive advantage in today's markets".
"This agreement is a great opportunity for KBR to expand our refining technology portfolio," Derbyshire said. "This will give KBR the ability to provide our potential clients a safer and lower cost alternative for high-quality alkylate production".About KBR, Inc.
KBR, Inc. is a global technology, engineering, procurement and construction company serving the hydrocarbons and government services industries, employing around 25,000 people worldwide with customers in more than 70 countries and operations in 40 countries across three distinct global businesses: Technology & Consulting, including proprietary technology in refining, ethylene, ammonia and fertilizers, and gasification; and niche consulting and know-how through Granherne/Energo and GVAEngineering & Construction, including Upstream Oil & Gas; LNG/GTL; Downstream Oil & Gas, Petrochemicals and Chemicals; and differentiated EPCGovernment Services, including program management and long term annuity contracts.
KBR is proud to work with its customers across the globe to provide technology, value-added consulting services and integrated EPC skills to ensure a consistent project delivery with predictable results. At KBR, we deliver.
About Exelus Inc.
Exelus Inc. is an advanced technology company, (www.exelusinc.com) that develops and licenses Cleaner-by-Design chemical processes for the petrochemical, refining and bio-fuels industry. These processes reduce the scale of raw material usage over current technologies, minimize carbon foot-prints while simultaneously improving economic viability. Our world today derives its energy from many sources, such as oil, natural gas, coal, and biomass. Exelus strives to offer technologies that produce clean fuels and chemicals from multiple sources and feedstocks.
Forward Looking Statement
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements include statements regarding our plans, objectives, goals, strategies, future events, future financial performance and backlog information and other information that is not historical information. When used in this presentation, the words "estimates," "expects," "anticipates," "projects," "plans," "intends," "believes," "forecasts" or future or conditional verbs such as "will," "should," "could," or "may," and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements are based upon our current expectations and various assumptions. Our expectations, beliefs, and projections are expressed in good faith, and we believe there is a reasonable basis for them. However, there can be no assurance that management's expectations, beliefs, and projections will be achieved. There are numerous risks and uncertainties, many of which are beyond our control, that could cause actual results to differ materially from the forward-looking statements contained in this presentation. These risks and uncertainties include, but are not limited to: current or future economic conditions; our ability to obtain and perform under contracts from existing and new customers, including the U.S. Government; exposure to cost overruns, operating cost inflation and potential liability claims and contract disputes; access to trained engineers and other skilled workers; risks relating to operating through joint ventures and partnerships; risks inherent in doing business internationally; potential tax liabilities; maritime risks; changes in the demand for our services and increased competition; protection of intellectual property rights; risks associated with possible future acquisitions; risks related to our information technology systems; impairment of goodwill and/or intangible assets; reduction or reversal of previously recorded revenues; risks relating to audits and investigations, including by governments; compliance with laws and regulations, and changes thereto, including those relating to the environment, trade, exports and bribery; our creditworthiness and ability to comply with the financial covenants in our credit agreement; and other risk factors discussed in our most recently filed Form 10-K, any subsequent Form 10-Qs and 8-Ks, and other Securities and Exchange Commission filings. All forward-looking statements attributable to us, or persons acting on our behalf, apply only as of the date made and are expressly qualified in their entirety by the cautionary statements in this presentation.Except as required by law, we undertake no obligation to revise or update forward-looking statements to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events.
For further information, please contact:
Investors
Zac Nagle
Vice President, Investor Relations
713-753-5082
investors@kbr.com
Media
Marit Babin
Director, Global Communications & Government Relations
713-753-3800
mediarelations@kbr.com
