Benzinga | Aug 31, 2021 07:02AM EDT

KBR Bags Contract From PKN ORLEN For Plastics Recycling Projects

* KBR, Inc. (NYSE:KBR) has been awarded a feasibility study contract by PKN ORLEN to evaluate plastics recycling projects in Central Europe utilizing its Hydro-PRT technology. The financial terms of the contract were not disclosed.

* KBR and PKN ORLEN intend to collaborate on the development of future projects.

* Hydro-PRT is a recycling technology that converts waste plastic into petrochemical and refinery products and is offered by KBR in alliance with Mura Technology.

* "This contract represents an important milestone for KBR and PKN ORLEN to assess the long-term potential of this breakthrough technology," said Doug Kelly, KBR President, Technology.

* Price Action: KBR shares closed lower by 1.20% at $38.85 on Monday.