Atlas Agro Picks KBR's K-GreeN Technology For Its Series Of Green Nitrate Plants

KBR Inc (NYSE:KBR) signed a memorandum of understanding (MoU) with Atlas Agro AG to license its K-GreeN technology for Atlas' planned investment in a series of green nitrate plants. The financial terms were not disclosed.
KBR will provide technology licensing, basic engineering design, proprietary equipment, and catalyst for the plants, which will produce zero-carbon nitrogen fertilizers.
The engineering design for the first plant located in the U.S. started in March 2023.
"We are excited to support Atlas Agro's vision of zero-carbon fertilizer production through our market leading green ammonia technology, K-GreeN," said Doug Kelly, KBR President, Technology.
KBR has about 50% market share of ammonia technology licensed capacity.
Price Action: KBR shares closed higher by 0.55% at $56.57 on Wednesday.