KBR Signs Engineering Services Agreement with National Renewable Energy Laboratory

HOUSTON, April 20, 2021 /PRNewswire/ — KBR (NYSE: KBR) announced today it has been awarded a contract by the Alliance for Sustainable Energy, LLC, the managing and operating contractor of the National Renewable Energy Laboratory (NREL), to provide engineering, advisory and evaluation services. NREL is a national laboratory within the US Department of Energy complex which specializes in the research and development of renewable energy, energy efficiency, energy systems integration and sustainable transportation.

Leveraging the company’s global sustainable technology expertise and US government mission understanding, KBR will provide engineering design evaluation and cost analysis for various biofuel and biorefinery projects, advancing NREL’s renewable energy research and development.

“This award aligns with KBR’s focus on climate change and affirms our position as a leader in the sustainable biofuels arena,” said Jay Ibrahim, President – Sustainable Technology Solutions. “We take great pride in our role supporting NREL in their quest to advance sustainable renewable biofuels technologies. KBR’s experts are excited to support NREL’s mission to identify, develop, and evaluate alternative energy R&D and to be a part of the team that takes these solutions from the laboratory into the real world with the goal of ultimately reducing greenhouse gas emissions and our carbon footprint.”

For over 10 years, KBR has developed and/or designed dozens of sustainable and renewable fuels projects across the globe.

About KBR

We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 29,000 people worldwide with customers in more than 80 countries and operations in 40 countries.

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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.

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Forward Looking Statement

The statements in this press release that are not historical statements, including statements regarding future financial performance, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, 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 and uncertainties include, but are not limited to: the significant adverse impacts on economic and market conditions of the COVID-19 pandemic; the company’s ability to respond to the challenges and business disruption presented by the COVID-19 pandemic; the recent dislocation of the global energy market; the company’s ability to realize cost savings and efficiencies relating to the streamlining of its Energy Solutions business; the company’s ability to manage its liquidity; the company’s ability to continue to generate anticipated levels of revenue, profits and cash flow from operations during the COVID-19 pandemic and any resulting economic downturn; the outcome of and the publicity surrounding audits and investigations by domestic and foreign government agencies and legislative bodies; potential adverse proceedings by such agencies and potential adverse results and consequences from such proceedings; the scope and enforceability of the company’s indemnities from its former parent; changes in capital spending by the company’s customers, including as a result of the COVID-19 pandemic; the company’s ability to obtain contracts from existing and new customers and perform under those contracts; structural changes in the industries in which the company operates; escalating costs associated with and the performance of fixed-fee projects and the company’s ability to control its cost under its contracts; claims negotiations and contract disputes with the company’s customers; changes in the demand for or price of oil and/or natural gas; protection of intellectual property rights; compliance with environmental laws; changes in government regulations and regulatory requirements; compliance with laws related to income taxes; unsettled political conditions, war and the effects of terrorism; foreign operations and foreign exchange rates and controls; the development and installation of financial systems; increased competition for employees; the ability to successfully complete and integrate acquisitions; and operations of joint ventures, including joint ventures that are not controlled by the company.

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KBR’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 discuss some of the important risk factors that KBR has identified that may affect the business, results of operations and financial condition. Except as required by law, KBR undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

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SOURCE KBR, Inc.


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