Benzinga | Jan 24, 2022 06:40AM EST

KBR Secures Engineering Contract From Biojet

* KBR, Inc. (NYSE:KBR) has secured an engineering contract from Biojet AS for a concept study for its renewable energy facility in Ringerike, Norway. Financial terms not disclosed.

* As per the contract terms, KBR will perform technology evaluations, early engineering, and project development for Biojet's project to convert forestry residues to renewable and sustainable green fuels.

* "This award aligns with KBR's focus on combatting climate change and affirms our position as a leader in the sustainable biofuels arena," commented Jay Ibrahim, President -- Sustainable Technology Solutions.

* Price Action: KBR shares closed lower by 0.88% at $45.31 on Friday.