THE WOODLANDS, Texas, June 14, 2016 /PRNewswire/ -- CB&I (NYSE:CBI) today announced it has been awarded the 2016 Presidential Green Chemistry Challenge award from the U.S. Environmental Protection Agency for its AlkyClean® process technology, a solid acid catalyst alkylation technology jointly developed by CB&I, Albermarle and Neste Oil.
The EPA's Presidential Green Chemistry Challenge program promotes the environmental and economic benefits of developing and using novel green chemistry, while recognizing individuals and organizations on a national level for successfully researching, developing and implementing such technologies.
"CB&I is proud to be a recipient of this prestigious award from the Environmental Protection Agency. Our AlkyClean technology provides customers in the gasoline alkylation market a solution to produce higher octane alkylate—or premium gasoline—with less environmental impact," said Philip K. Asherman, CB&I's President and Chief Executive Officer. "CB&I is committed to the investment and implementation of industry technology and solutions that contribute to the positive health of the environment and help our customers meet government regulations."
CB&I's vast technology portfolio boasts additional green technologies such as its CDAlky® alkylation process technology, which similarly to Alkyclean offers an improved process to obtain high-octane, premium gasoline. Chevron Lummus Global, a joint venture between CB&I and Chevron, offers a Biofuels ISOCONVERSION process that converts renewable fat, oil and grease feedstock into high yields of pure hydrocarbon fuels. Additional proprietary technologies in the CB&I portfolio reduce sulfur in transportation fuels. These technologies offer a sustainable alternative for new projects and help revamp plants or refineries to meet U.S. and global energy regulation changes.
As further evidence of the company's commitment to green technology, CB&I recently announced NET Power, LLC's groundbreaking of a first-of-a-kind power plant that will validate a new natural gas power system that produces low-cost electricity with zero atmospheric emissions, including carbon dioxide. NET Power is a collaboration between CB&I, Exelon Generation and 8 Rivers Capital. The 50-megawatt demonstration plant is being built on a site in La Porte, Texas.
In addition to its technology portfolio, CB&I provides a full spectrum of services from environmental consulting to remediation. Its comprehensive range of environmental sustainable solutions assists customers in identifying opportunities to reduce energy use and operating costs and manage the implementation of energy efficient projects, while adhering to environmental compliance.
About CB&I
CB&I (NYSE:CBI) is a leading provider of technology and infrastructure for the energy industry. With over 125 years of experience and the expertise of more than 40,000 employees, CB&I provides reliable solutions to our customers around the world while maintaining a relentless focus on safety and an uncompromising standard of quality. For more information, visit www.CBI.com.
Important Information For Investors And Shareholders
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements regarding CB&I and represents our expectations and beliefs concerning future events. These forward-looking statements are intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties. When considering any statements that are predictive in nature, depend upon or refer to future events or conditions, or use or contain words, terms, phrases or expressions such as "achieve," "forecast," "plan," "propose," "strategy," "envision," "hope," "will," "continue," "potential," "expect," "believe," "anticipate," "project," "estimate," "predict," "intend," "should," "could," "may," "might" or similar forward-looking statements, we refer you to the cautionary statements concerning risk factors and "Forward-Looking Statements" described under "Risk Factors" in Item 1A of our Annual Report filed on Form 10-K filed with the SEC for the year ended December 31, 2015, and any updates to those risk factors or "Forward-Looking Statements" included in our subsequent Quarterly Reports on Form 10-Q filed with the SEC, which cautionary statements are incorporated herein by reference.
Investors: Scott Lamb, +1 832 513 1068, Scott.Lamb@CBI.com
Media: Gentry Brann, +1 832 513 1031, Gentry.Brann@CBI.com
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SOURCE CB&I