KBR announced on Wednesday that the company has entered into an agreement to invest $100 million in Mura Technology to provide the capital necessary to accelerate the development of its plastics recycling projects.
The announcement and renewed investment, in two separate increments, brings KBR’s total investment in Mura to 18.5 percent, which also enables KBR to participate more fully in this sustainability-focused, high-growth sector.
“Building on our strong partnership of collaboration and innovation, we are very excited to announce our expanded investment in Mura,” said Stuart Bradie, KBR president and CEO. “With a strategic approach to commercializing and scaling its proprietary, differentiated plastics recycling solution, Mura is very well positioned for profitable growth and value creation as the plastics circular economy develops and matures.”
Mura’s mission is to commercialize its differentiated plastics recycling solution to enable a plastic-neutral, sustainable future by providing an end-to-end process to convert mixed waste plastic back to high-quality chemical feedstocks. Mura licenses its technology through KBR to a global client base and is also developing its own portfolio of global sites.
“The combination of Mura’s game-changing Hydro-PRT℠ technology with KBR’s scalable engineering and licensing expertise has now established a world-leading alliance in the advanced recycling of plastics,” said Dr. Steve Mahon, CEO of Mura Technology.
We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 28,000 people performing diverse, complex and mission-critical roles in 34 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.