KBR and Mura Technology Announce First Plastic Recycling Technology Agreement with Mitsubishi Chemical Corporation
HOUSTON, June 17, 2021 / PRNewswire / – KBR (NYSE: KBR) and Mura Technology today announced the first joint contract for their Hydro-PRTâ plastics recycling technology with Mitsubishi Chemical Corporation (MCC) in Japan.
Hydro-PRT was developed by Mura and licensed exclusively from KBR. Hydro-PRT uses a unique patented process that uses supercritical steam to convert all types of plastics into commercial products that can be used to make new plastics for a true circular economy.
“We are very excited to announce our first global license with KBR,” said Dr. Steve Mahon, CEO of Mura Technology. “Our technology provides a differentiated, proven, and scalable solution for companies looking to have an immediate impact on their ESG goals, and we look forward to working closely with the MCC team to help them take an early lead in achieving them to achieve their circular economy goals. ”
“KBR is proud to be Mura’s exclusive licensing partner for this breakthrough technology,” said Doug Kelly, KBR President, Technology. “Over the past few months we’ve seen tremendous interest in Hydro-PRT from many leading companies around the world and we’re excited about MCC’s decision to be an early adopter of their sustainability goals.”
KBR has been a leader in the development, commercialization and plant design of process technologies for over 50 years.
We deliver scientific, technological and engineering solutions to governments and businesses around the world. KBR employs around 29,000 people worldwide with customers in more than 80 countries and branches in 40 countries.
KBR prides itself on working with customers around the world to provide technology, value-added services, and long-term operations and maintenance services to ensure consistent delivery with predictable results. At KBR we deliver.
About Mura technology
Mura Technology’s mission is to eradicate global plastic pollution and create sustainable societies.
We are pioneers in a globally scalable technology to prevent millions of tons of plastic and carbon from entering our natural environment each year and becoming one $ 120 billion lost resource plastic waste has become a valuable global raw material. Our technology can recycle all plastic waste and produce the ingredients for brand new products, reducing the need for new and fossil fuel derived plastics.
We’re partnering with the biggest global brands to scale globally and drive a sustainable plastics economy for the next decade. By 2025 we want to have a capacity for 1,000,000 tons of plastics recycling in operation or development.
The company is based in London, UK. Visit http://www.muratechnology.com/
About Mitsubishi Chemical Corporation
As a core company of the Mitsubishi Chemical Holdings Group, Mitsubishi Chemical strives to offer solutions to ecological and social problems and to contribute to the sustainable development of people, society and the earth through its chemistry-based businesses. In this way we want to realize KAITEKI – a state that contributes to sustainable development that is optimal for people, society and the earth.
The statements in this press release that are not historical statements, including statements about future financial performance, are forward-looking statements within the meaning of federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond the control of the company, that could cause actual results to differ materially from those expressed or implied in the statements. These risks and uncertainties include, but are not limited to: the significant negative impact of the COVID-19 pandemic on economic and market conditions; the company’s ability to respond to the challenges and disruptions posed by the COVID-19 pandemic; the recent distortion in the global energy market; the company’s ability to achieve cost savings and efficiency gains associated with streamlining its energy solutions business; the company’s ability to manage its liquidity; the company’s ability to continue to generate expected sales, profits and cash flows from operations during the COVID-19 pandemic and any resulting economic downturn; the result and publicity of examinations and investigations by domestic and foreign government authorities and legislative bodies; potential adverse proceedings by such authorities and the potential adverse outcomes and consequences of such proceedings; The extent and enforceability of the company’s exemptions from its former parent company; Changes in the company’s customers’ capital expenditures, including as a result of the COVID-19 pandemic; the company’s ability to receive and fulfill contracts from existing and new customers; structural changes in the industries in which the company operates; escalating costs associated with and executing fixed fee projects and the company’s ability to control its costs in accordance with its contracts; Debt negotiations and contractual disputes with the company’s customers; Changes in the demand or price of oil and / or natural gas; Protection of intellectual property rights; Compliance with environmental laws; Changes in government regulations and requirements; Compliance with laws relating to income taxes; insecure political conditions, war and the effects of terrorism; foreign business operations and exchange rates and controls; the development and installation of financial systems; increased competition for workers; the ability to successfully complete and integrate acquisitions; and operating joint ventures, including joint ventures that are not controlled by the company.
The latest annual report filed by KBR on Form 10-K, all subsequent Forms 10-Qs and 8-Ks, and other filings by the Securities and Exchange Commission, discuss some of the important risk factors that KBR has identified that affect the business, the results of business – and financial position. Except as required by law, KBR assumes no obligation to revise or publicly update any forward-looking statements for any reason.
SOURCE KBR, Inc.