Yahoo Finance KBR and Sumitomo Chemical Form Technology Licensing Alliance for Sustainable Propylene Oxide Production
HOUSTON, May 22, 2024 /PRNewswire/ -- KBR (NYSE: KBR) and Sumitomo Chemical announced today that they have signed an alliance agreement to make KBR an exclusive licensing partner for Sumitomo Chemical's state-of-the-art propylene oxide by cumene (POC) technology. Propylene oxide is an intermediate product used primarily in the further manufacture of polyurethanes. Polyurethane is used in many products such as foams, coatings, adhesives and sealants which serve growing industries such as construction, industrials and automotive.
Sumitomo Chemical's process for propylene oxide production is a unique, environmentally friendly technology that delivers minimal carbon footprint compared to other processes. With lower wastewater generation, and an optimized energy recovery system, this process ensures high propylene oxide yield, and smooth and safe plant operations.
Under the alliance, Sumitomo Chemical's innovative technology will be delivered to a global customer base, enabled by KBR's global marketing reach and engineering capabilities. Additionally, this technology is complementary to KBR's existing, leading phenol technology.
"This alliance combines KBR's proven experience in licensing sustainable chemical processes on a world scale, complemented by Sumitomo Chemical's outstanding expertise in propylene oxide production and a track record of several decades of safe, stable and reliable plant operations globally," said Jay Ibrahim, President, KBR Sustainable Technology Solutions. "Sumitomo Chemical's POC technology not only delivers the co-product-free pathway to produce propylene oxide but also significantly reduces carbon emission through the recent enhancement of its energy efficiency features. This aligns with KBR's vision and commitment towards providing sustainable solutions to its customers."
"Sumitomo Chemical is proud to partner with KBR to provide this exceptional and environmentally friendly technology to clients worldwide, through which they can accelerate their sustainability goals while maximizing the value of their propylene derivatives," said Seiji Takeuchi, Sumitomo Chemical's Senior Managing Executive Officer for the Essential Chemicals & Plastics Sector. "KBR's extensive licensing and engineering expertise provides Sumitomo Chemical with a world-class partner to expand its pacesetting technology to a wider market."
About KBR
We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 35,000 people worldwide with customers in more than 80 countries and operations in over 30 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
About Sumitomo Chemical
Sumitomo Chemical Co., Ltd. is a Japan-based chemicals conglomerate which operates in the Essential Chemicals & Plastics Sector, Energy & Functional Materials Sector, IT-related Chemicals Sector, Health & Crop Sciences Sector, Pharmaceuticals Sector, and other sectors.
Sumitomo Chemical contributes to the accelerating transition into carbon circularity and a net zero economy by licensing an innovative array of technologies, including carbon recycling technologies, and greenhouse gas emission reduction technologies.
Visit:
https://www.sumitomo-chem.co.jp/english/
https://www.sumitomo-chem.co.jp/technology-licensing/
Forward Looking Statements
The statements in this press release that are not historical statements, including statements regarding demand, markets, commitments and technological performance, 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.
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SOURCE KBR, Inc.
