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HONEYWELL INTERNATIONAL INC.

(HON)
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Honeywell and Wood Introduces Groundbreaking Technologies to Support Efforts Toward Carbon-Neutral Sustainable Aviation Fuel

09/23/2021 | 07:00am EDT

Honeywell and Wood announced a comprehensive package of technologies to support the effort to produce carbon-neutral aviation fuel. When used together, the technologies, which are based on Honeywell's UOP Ecofining process technology and Wood's hydrogen plant technology, could reduce lifecycle greenhouse gas emissions (GHG) by 100% using certain feedstocks when compared to traditional petroleum aviation fuel. The UOP Ecofining process technology converts waste oils, fats, and greases into Honeywell Green Jet FuelTM, a drop-in replacement for jet fuel. When using a feedstock such as used cooking oils, lifecycle GHG emissions can be reduced by 80% at this stage compared to conventional petroleum jet fuel. As the next step in enhancing the Ecofining process technology offering, Wood's technology will be integrated to use the byproducts of the UOP Ecofining process technology to produce renewable hydrogen, reducing lifecycle GHG emissions a further 10% when compared to the total GHG emissions produced by conventional petroleum jet fuel. The renewable hydrogen is then injected back into the Honeywell Ecofining process to remove feed impurities and create a cleaner burning renewable fuel. The carbon dioxide (CO2) that is generated from the production of the hydrogen can be captured and routed for permanent underground sequestration using the Honeywell H2 Solutions technology suite, further reducing lifecycle GHG emissions an additional 10% when compared to the total GHG emissions produced by conventional petroleum jet fuel. The combination of technologies results in an aviation fuel that is effectively carbon neutral compared to petroleum fuels. Recently, the U.S. Department of Energy (DOE), the U.S. Department of Transportation (DOT), the U.S. Department of Agriculture (USDA), and other federal government agencies worked together to introduce the Sustainable Aviation Fuel Grand Challenge with a goal to produce 3 billion gallons per year of sustainable aviation fuel by 2030 in the U.S. If those 3 billion gallons of SAF were produced using Honeywell's comprehensive package of technologies, it could result in the equivalent of 34 million metric tons of cumulative carbon dioxide avoided per year, depending on the oil and fat feedstock mix used. The UOP Ecofining process has been used for commercial production of sustainable aviation fuel since 2016 by World Energy in California. The facility remains the only 100% renewable jet fuel unit in the world. The Ecofining technology is used in most 100%-biofeed units producing renewable diesel and all the licensed renewable jet fuel production in the world today. Honeywell UOP currently has licensed 22 Ecofining units in nine countries around the world, processing 12 different types of renewable feedstocks.


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Financials (USD)
Sales 2021 35 045 M - -
Net income 2021 5 729 M - -
Net Debt 2021 8 625 M - -
P/E ratio 2021 27,1x
Yield 2021 1,69%
Capitalization 152 B 152 B -
EV / Sales 2021 4,59x
EV / Sales 2022 4,25x
Nbr of Employees 103 000
Free-Float 72,0%
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Number of Analysts 26
Last Close Price 220,72 $
Average target price 241,83 $
Spread / Average Target 9,56%
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Managers and Directors
Darius Adamczyk Chairman & Chief Executive Officer
Gregory P. Lewis Chief Financial Officer & Senior Vice President
Krishna Mikkilineni SVP-Engineering Operation & Information Technology
Suresh Venkatarayal Chief Technology Officer
Victor J. Miller Secretary, Chief Compliance Officer & VP
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