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Honeywell International (HON - Free Report) has announced an innovative ethanol-to-jet fuel (ETJ) processing technology, enabling producers to convert corn-based, cellulosic, or sugar-based ethanol into sustainable aviation fuel (SAF). The move is aligned with the Biden Administration’s goal of reaching three billion gallons of SAF production per year by 2030.
Contingent upon the type of ethanol feedstock used, when jet fuel is produced from Honeywell's ethanol-to-jet fuel technology, greenhouse gas emissions can be reduced by 80% on a total lifecycle basis compared to petroleum-based jet fuel. The technology uses high-performance catalysts and heat management capabilities to optimize production efficiency and yield cost-effective, lower-carbon-intensity aviation fuel.
Barry Glickman, vice president and general manager, Honeywell Sustainable Technology Solutions, said, "Honeywell pioneered SAF production with its Ecofining technology, and our new ethanol-to-jet fuel process builds on that original innovation to support the global aviation sector's efforts to reduce GHG emissions and meet SAF production targets with an abundant feedstock like ethanol."
Honeywell's technology used in SAF plants can help in lowering installed costs and result in less labor-intensive installation compared to job site construction.
Honeywell's ETJ technology can also benefit petroleum refiners and transportation fuel producers by enabling the conversion of current or idle facilities into SAF production plants. This would help cater to growing demand by maximizing the use of existing sites for SAF production.
In 2021, the Biden Administration set a target for the aviation industry to reduce emissions by 20% by 2030. The US government has an ultimate goal of net-zero aviation emissions by 2050, i.e., conventional jet fuel will be replaced entirely with SAF. Apart from this, the European Council’s aim for a minimum of 2% SAF usage in airports by 2025 and at least 63% by 2050 highlights the need for SAF feedstocks to meet the demand. HON has a commitment to reach carbon neutrality in its operations and facilities by 2035.
Zacks Rank & Key Picks
Honeywell currently carries a Zacks Rank #3 (Hold). Some better-ranked companies are discussed below:
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Honeywell (HON) Introduces Ethanol-to-Jet Fuel Technology
Honeywell International (HON - Free Report) has announced an innovative ethanol-to-jet fuel (ETJ) processing technology, enabling producers to convert corn-based, cellulosic, or sugar-based ethanol into sustainable aviation fuel (SAF). The move is aligned with the Biden Administration’s goal of reaching three billion gallons of SAF production per year by 2030.
Contingent upon the type of ethanol feedstock used, when jet fuel is produced from Honeywell's ethanol-to-jet fuel technology, greenhouse gas emissions can be reduced by 80% on a total lifecycle basis compared to petroleum-based jet fuel. The technology uses high-performance catalysts and heat management capabilities to optimize production efficiency and yield cost-effective, lower-carbon-intensity aviation fuel.
Barry Glickman, vice president and general manager, Honeywell Sustainable Technology Solutions, said, "Honeywell pioneered SAF production with its Ecofining technology, and our new ethanol-to-jet fuel process builds on that original innovation to support the global aviation sector's efforts to reduce GHG emissions and meet SAF production targets with an abundant feedstock like ethanol."
Honeywell International Inc. Price
Honeywell International Inc. price | Honeywell International Inc. Quote
Honeywell's technology used in SAF plants can help in lowering installed costs and result in less labor-intensive installation compared to job site construction.
Honeywell's ETJ technology can also benefit petroleum refiners and transportation fuel producers by enabling the conversion of current or idle facilities into SAF production plants. This would help cater to growing demand by maximizing the use of existing sites for SAF production.
In 2021, the Biden Administration set a target for the aviation industry to reduce emissions by 20% by 2030. The US government has an ultimate goal of net-zero aviation emissions by 2050, i.e., conventional jet fuel will be replaced entirely with SAF. Apart from this, the European Council’s aim for a minimum of 2% SAF usage in airports by 2025 and at least 63% by 2050 highlights the need for SAF feedstocks to meet the demand. HON has a commitment to reach carbon neutrality in its operations and facilities by 2035.
Zacks Rank & Key Picks
Honeywell currently carries a Zacks Rank #3 (Hold). Some better-ranked companies are discussed below:
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