Press Release

HOUSTON, November 14, 2023 – KBR (NYSE: KBR) announced today it has signed a Memorandum of Understanding (MoU) with Korea-based ISU Chemical for a commercial ammonia cracking project to be based in Ulsan, Republic of Korea. The project will employ KBR’s innovative technology, H2ACT℠, which has rapidly emerged as the industry’s leading ammonia cracking technology. 

Under the terms of the MoU, KBR will provide licensing, proprietary engineering design, proprietary equipment, and catalyst for the planned 10 MTPD hydrogen production unit, with operations scheduled to commence in the first half of 2026. 

“We are pleased to extend our collaboration with ISU Chemical to include this important project. This paves the way for the wider adoption of ammonia cracking for the production of hydrogen in support of the transition to a hydrogen economy,” said Doug Kelly, KBR President, Technology. “KBR is continuing to lead energy transition projects globally, and along with ISU, we look forward to demonstrating the value of clean ammonia and hydrogen towards achieving our net zero targets.” 

KBR is a world leader in ammonia technology. Since 1943, KBR has licensed and designed more than 250 ammonia plants across the globe. 

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    

Forward Looking Statements 

The statements in this press release that are not historical statements, including statements regarding the performance of the company’s MoU with ISU Chemical, 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