Houston, TX /PRNewswire/ - KBR (NYSE: KBR) announced today that it has signed an alliance agreement with Johnson Matthey (JM) to license the FORMOX™ Integrated UFC Technology (iUFC™).
The innovative iUFC technology consists of JM's methanol and UFC (Urea Formaldehyde Concentrate) production processes integrated with KBR's proprietary ammonia process, either as part of new installations or as retrofits for existing units, enabling low-cost production of UFC for higher grade urea.
"Following our successful alliance for ammonia–methanol coproduction with JM last year, KBR is excited to offer the iUFC process for new and existing fertilizer complexes to efficiently upgrade their end products," said Doug Kelly, KBR President, Technology. "With KBR's market leading ammonia technology, this offering will allow integrated fertilizer complexes to upgrade their urea quality for maximizing crop yields while ensuring the lowest carbon footprint."
"We are extremely proud to deepen our ongoing alliance with KBR by offering this comprehensive UFC technology solution," said John Gordon, Managing Director for Johnson Matthey. "Our partnership highlights how uniquely positioned the companies are to integrate this technology into both new and established ammonia plants. Customers will benefit from enhanced performance, operational agility and reduced environmental impact."
Both KBR's ammonia technology and JM's methanol and formaldehyde/UFC technology showcase a long history, deep experience, continuous improvements, and cutting-edge performance. Since the 1940s, KBR has licensed, engineered, and constructed more than 244 ammonia plants worldwide. JM has supplied the methanol and formaldehyde industry with leading technology and catalysts for over 45 years and has licensed over 100 grassroot methanol plants and over 190 formaldehyde plants for formaldehyde production, of which approximately 20% have UFC capability.
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.
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.
Johnson Matthey is a global leader in science that enables a cleaner and healthier world. With over 200 years of sustained commitment to innovation and technological breakthroughs, we improve the performance, function and safety of our customers' products and in 2020 we received the London Stock Exchange's Green Economy Mark, given to companies that derive more than 50% of revenues from environmental solutions. Our science has a global impact in areas such as low emission transport, pharmaceuticals, chemical processing and making the most efficient use of the planet's natural resources. Today more than 15,000 Johnson Matthey professionals collaborate with our network of customers and partners to make a real difference to the world around us.
Inspiring Science, Enhancing Life
For more information, visit www.matthey.com
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 and the company's ability to respond to the resulting challenges and business disruption; the recent dislocation of the global energy market;; the company's ability to manage its liquidity; 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; changes in capital spending by the company's customers; 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; the possibility of cyber and malware attacks; 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.
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.