KBR, Inc. (NYSE: KBR) has disclosed that it has inked a technology contract in Sweden. The firm has revealed that it has inked a technology agreement for a sustainable textile fibers demonstration plant to be developed by TreeToTextile AB in Nymölla, Sweden. The firm is backing this thrilling project by TreeToTextile for creating a highly sustainable low-cost textile fiber using renewable forest materials.

It has been declared that as per the agreement KBR will offer technology license, engineering, proprietary equipment, and commissioning services for the chemical recovery unit of the project. The unit will allow TreeToTextile to reuse valuable chemicals efficiently and sustainably through KBR Ecoplanning advanced solutions.

Furthermore, KBR Ecoplanning has more than 50 years of experience in modern design and supply of evaporation and crystallization technologies. Moreover, it has provided more than 200 plants all around the world across various applications and industry segments. The segments cover chemicals, food, fertilizers, metallurgical, pulp and paper, and others.

Additionally, KBR has shared its mission and revealed that it vowed to grow its viable technologies portfolio to offer assistance to its clients in harmonizing their business and ESG objectives. Shares of KBR, Inc. (NYSE: KBR) last closed at $38.89, in a 52-week range of $21.13 to $42.71. KBR's total market capitalization reached $5.50 billion at the time of writing.