Willis Sustainable Fuels Selects McDermott for Sustainable Aviation Fuel Facilities in the UK

HOUSTON, Nov. 20, 2024/PRNewswire/ -- McDermott has been awarded a master services agreement (MSA) by Willis Sustainable Fuels (UK) Limited (WSFL) for sustainable aviation fuel (SAF) facilities in the UK. Under the scope of the agreement, McDermott will perform early engineering, procurement and construction (EPC) related services for the facilities.

The initial phase of the agreement is the early engineering of a planned SAF facility in Teesside with capacity of producing 50,000 litres per day of SAF. The project is supported by the UK Government's Advanced Fuels Fund. The intent is for the parties to enter a sole-source negotiation of the EPC scope in 2025. WSFL intends to deploy technology which produces next-generation SAF, either Biogas-to-Liquid (BtL) or Power-to-Liquid (PtL), depending on the feedstock.

"Our partnership with McDermott on one of the UK's most advanced sustainable aviation fuel projects represents a key milestone in our ongoing efforts to lead the way in aviation decarbonization. This collaboration underscores our commitment to working with industry leaders who share our vision for a cleaner, more sustainable future," said Amy Ruddock, Senior Vice President, Sustainable Aviation & Corporate Development at Willis Lease Finance Corporation, WSFL's parent company.

McDermott will be supported by its construction partner, Bilfinger UK. Together, they will maximise in-house know how, self-perform delivery and the UK supply chain.

"This agreement is testament to McDermott's expertise in integrating design, fabrication and installation, and our capabilities across low carbon solutions," said Rob Shaul, McDermott's Senior Vice President, Low Carbon Solutions business. "We are well positioned to offer WSFL a self-perform EPC model via our strategic relationship with Bilfinger UK, which is expected to further reduce risk and drive cost optimizations."

The work will be led from McDermott's office in London, with support from its Gurugram, India office, and Bilfinger's office in Warrington, UK.

About McDermott
McDermott is a premier, fully-integrated provider of engineering and construction solutions to the energy industry. Our customers trust our technology-driven approach engineered to responsibly harness and transform global energy resources into the products the world needs. From concept to commissioning, McDermott's innovative expertise and capabilities advance the next generation of global energy infrastructure-empowering a brighter, more sustainable future for us all. Operating in over 54 countries, McDermott's locally-focused and globally-integrated resources include more than 30,000 employees, a diversified fleet of specialty marine construction vessels and fabrication facilities around the world. To learn more, visit www.mcdermott.com.

About Willis Lease Finance Corporation
Willis Lease Finance Corporation ("WLFC") leases large and regional spare commercial aircraft engines, auxiliary power units and aircraft to airlines, aircraft engine manufacturers and maintenance, repair, and overhaul providers worldwide. These leasing activities are integrated with engine and aircraft trading, engine lease pools and asset management services through Willis Asset Management Limited, as well as various end-of-life solutions for engines and aviation materials provided through Willis Aeronautical Services, Inc. Through Willis Engine Repair Center®, Jet Centre by Willis, and Willis Aviation Services Limited, the company's service offerings include Part 145 engine maintenance, aircraft line and base maintenance, aircraft disassembly, parking and storage, airport FBOand ground and cargo handling services.

Except for historical information, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties. Do not unduly rely on forward-looking statements, which give only expectations about the future and are not guarantees. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update them. Our actual results may differ materially from the results discussed in forward-looking statements. Factors that might cause such a difference include, but are not limited to: the effects on the airline industry and the global economy of events such as war, terrorist activity and the COVID-19 pandemic; changes in oil prices, rising inflation and other disruptions to world markets; trends in the airline industry and our ability to capitalize on those trends, including growth rates of markets and other economic factors; risks associated with owning and leasing jet engines and aircraft; our ability to successfully negotiate equipment purchases, sales and leases, to collect outstanding amounts due and to control costs and expenses; changes in interest rates and availability of capital, both to us and our customers; our ability to continue to meet changing customer demands; regulatory changes affecting airline operations, aircraft maintenance, accounting standards and taxes; the market value of engines and other assets in our portfolio; and risks detailed in the Company's Annual Report on Form 10-K and other continuing reports filed with the Securities and Exchange Commission.

About Bilfinger
Bilfinger is an international industrial services provider. The aim of the Group's activities is to increase the efficiency and sustainability of customers in the process industry and to establish itself as the number one partner in the market for this purpose. Bilfinger's comprehensive portfolio covers the entire value chain from consulting, engineering, manufacturing, assembly, maintenance and plant expansion to turnarounds and digital applications.

The company delivers its services in two service lines: Engineering & Maintenance and Technologies. Bilfinger is primarily active in Europe, North America and the Middle East. Process industry customers come from sectors that include energy, chemicals & petrochemicals, pharma & biopharma and oil & gas. With its ~30,000 employees, Bilfinger upholds the highest standards of safety and quality and generated revenue of €4.5 billion in financial year 2023. To achieve its goals, Bilfinger has identified two strategic thrusts: repositioning itself as a leader in increasing efficiency and sustainability, and driving operational excellence to improve the organizational performance.

Forward-Looking Statements
McDermott cautions that statements in this communication which are forward-looking, and provide other than historical information, involve risks, contingencies and uncertainties. These forward-looking statements include, among other things, statements about the expected scope and execution of the project discussed in this press release. Although we believe that the expectations reflected in those forward-looking statements are reasonable, we can give no assurance that those expectations will prove to have been correct. Those statements are made by using various underlying assumptions and are subject to numerous risks, contingencies and uncertainties, including, among others: adverse changes in the markets in which we operate or credit or capital markets; our inability to successfully execute on contracts in backlog; changes in project design or schedules; the availability of qualified personnel; changes in the terms, scope or timing of contracts; contract cancellations, change orders and other modifications and actions by our customers and other business counterparties; changes in industry norms; actions by lenders, other creditors, customers and other business counterparties of McDermott and adverse outcomes in legal or other dispute resolution proceedings. If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. You should not place undue reliance on forward-looking statements. This communication reflects the views of McDermott's management as of the date hereof. Except to the extent required by applicable law, McDermott undertakes no obligation to update or revise any forward-looking statement.

Contact:
Global Media Relations
McDermott
Reba Reid
Senior Director, Global Communications and Marketing
+1 281 588 5636
[email protected]

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