DL E&C and KBR Join Forces to Advance Sustainable Aviation Fuel Technology
Engaged KBR to conduct a feasibility study for the sustainable aviation fuel business
Aims to become the undisputed leader in the sustainable aviation fuel market
Donuimun D Tower, the head office building of DL E&C
SEOUL--(Korea Newswire)--DL E&C Co., Ltd (KRX: 375500) announced that it had signed a feasibility study contract with Kellogg Brown & Root (KBR) (NYSE:KBR), an American petrochemical and energy technology company, for its sustainable aviation fuel production business using KBR’s ATJ (Alcohol to Jet) technology, PureSAFSM. This agreement marks the first step for both companies to increase their market share in the sustainable aviation fuel sector.
This collaboration allows both parties to blend their expertise to revolutionize the SAF sector, as well as strengthen PureSAF in global markets.
To achieve carbon neutrality by 2050, the aviation industry has mandated the use of sustainable aviation fuel. In response, leading oil refineries is actively engaging in business development and technology R&D for SAF production. TMR, a global market research firm, estimates the global SAF market to be worth around USD 186.6 million (KRW 235.5 billion) in 2021 and projected a CAGR of 26.2%, reaching USD 402 billion (KRW 508 trillion) by 2050.
DL E&C and KBR have agreed to combine their respective strengths and expertise to develop a comprehensive business plan for sustainable aviation fuel producers based on the innovative ATJ technology.
Under this agreement, DL E&C will be responsible for FEED, EPC (engineering, procurement, construction), and pre-commissioning of production plants. As the licensor, KBR will take charge of the basic design stage and provide source technology and solutions for catalyst selection and maintenance. Marking this strategic collaboration as a significant milestone, both companies aim to deliver a complete and integrated solution for the entire SAF industry.
“In line with the global trend of increased sustainable aviation fuel adoption, DL E&C will leverage our collaboration with leading international companies to offer a comprehensive suite of solutions and solidify our position as a leader in the SAF industry,” said Jae-ho Yoo, Head of the Plant Business Department at DL E&C.
More information about DL E&C, can be found on the website: https://www.dlenc.co.kr/eng
DL E&C Co., Ltd
This is a news release distributed by Korea Newswire on behalf of this company.