KBR’s investment in Mura Technology will help the company to accelerate the development of its plastics recycling projects and achieve its ambition of reaching a recycling capacity of 1,000,000 tons every year by 2025.
Houston/USA – KBR has entered into an agreement to invest an additional 100-million-dollars in Mura Technology (Mura) 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.
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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. Targeting 1,000,000 tons of annual recycling capacity in operation or development by 2025, 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. "This additional investment by KBR in Mura Technology and the addition of a member of KBR's management to Mura's Board of Directors demonstrates a strong commitment to this partnership by both parties.”
Stand vom 23.03.2021
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