KBR announces it has entered into an agreement to invest an additional $100 million in Mura Technology bringing KBR’s aggregate investment in Mura to 18.5%.
This investment provides Mura incremental capital to accelerate development of its plastics recycling projects and enables KBR to participate more fully in this sustainability-focused, high growth sector. Funding is expected in two tranches with the first payment in the quarter ended June 30, 2022 and the remainder in 2023.
In early 2021, KBR entered into an alliance to become Mura’s exclusive licensing partner, broadening the addressable market and customer access for this highly differentiated plastics recycling technology. Together, KBR and Mura have won numerous license awards and feasibility studies. This alliance has also produced advances in process technology innovation such as closed loop power, water recycling, modularization and digital operating solutions. Through this partnership, KBR may also expand its engagement on Mura’s own projects to provide advanced engineering, program management and integration expertise.