KBR (NYSE:KBR) and Southern Company subsidiary, Southern Generation Technologies, today announced a cooperation agreement through which both organizations will collaborate in an effort to expand the global adoption of Transport Integrated Gasification – or TRIG™ – technology.
Under the terms of this agreement, KBR will lead the sale and delivery of all TRIG™ licenses worldwide, including those for power applications. KBR will provide sales, delivery and project management capabilities, and KBR’s Technology Business Unit will be supported in the power market by its Power Business Unit for the delivery of services. Southern Company’s subsidiary will provide operating and engineering expertise, along with ongoing research and development and technical support.
“This new collaboration between KBR and Southern Company will utilize the respective strengths of each organization to deploy commercial TRIG™ licensed processes worldwide and accelerate the adoption of TRIG™ in the marketplace,” said Bill Utt, KBR Chairman, President & CEO. “Expanding the licensing rights of the technology to encompass power projects now positions KBR into a larger market. This agreement expands KBR’s Technology Business Unit portfolio and is consistent with KBR’s strategy to grow its technology business consistent with the needs of the market.”
TRIG™ technology was jointly developed by KBR and Southern Company with the support of the U.S. Department of Energy. KBR is presently a technology licensor of TRIG™ processes for industrial applications and demonstrates particular strengths in the global sale, marketing, packaging and delivery of technology licenses. Southern Company subsidiary, Southern Generation Technologies, is a technology licensor of TRIG™ for the power industry and specializes in the development, design, deployment and operation of this technology.“Southern Company is an industry leader in energy innovation,” said Southern Company Chairman, President and CEO Thomas A. Fanning. “Through our continued collaboration with KBR, we are developing and making available real solutions to generate clean, safe, reliable and affordable power – across America and around the world.”
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts