Subject: LIC
Acelen Renewables Selects Honeywell for SAF and Renewable Diesel Fuel Production
Honeywell now surpasses 50 licenses for its renewable fuel processing solutions
CHARLOTTE, N.C., Jan. 24, 2024 /PRNewswire/ -- Honeywell (Nasdaq: HON) announced that Acelen Renewables has selected its Ecofiningtm technology to help support the efficient production of a targeted 20,000 barrels per day of sustainable aviation fuel (SAF) and renewable diesel. The fuels will be processed at Acelen's facility in Bahia, Brazil, from a blend of inedible seed and waste oils. With this agreement, Acelen Renewables becomes the 50th site to license Honeywell's renewable fuels technology.
Honeywell's Ecofining process, which was developed in collaboration with Eni SpA, offers a capital- and cost-effective solution for processing waste fats, oils and greases into renewable diesel and SAF. Blended with conventional jet fuel, the use of SAF can reduce greenhouse gas (GHG) emissions by up to 80% compared to conventional fossil fuels.1 Ecofining has been in use since 2013 for renewable diesel and 2016 for SAF production, making it a proven tool for helping to reduce carbon dioxide (CO2) emissions, particularly in air travel.
Over the past two years, Honeywell has seen rapidly increasing demand for renewable fuels technologies, including Ecofining. This growth tracks with international decarbonization efforts?especially in air travel. Initiatives like the SAF Grand Challenge and SAF tax credit in the U.S. Inflation Reduction Act as well as the European Council's 'Fit for 55' package have set in motion key drivers to expand SAF production, accelerating the energy transition and aviation's journey to net-zero emissions.
"The dramatic growth in demand for renewable fuels technology illustrates that fuel producers are accelerating adoption of solutions to help meet ambitious decarbonization goals," said Ken West, president and CEO of Honeywell Energy and Sustainability Solutions. "Our 50th license is testament to Honeywell's leadership in renewable fuels. The milestone follows back-to-back years of solution launches that harness ethanol and e-methanol?to round out one of the largest ranges of feedstock processing technologies on the market."
Acelen Renewables joins a roster of companies around the world currently licensing Honeywell's renewable fuels technology, including BP, CVR Energy, Diamond Green Diesel, Eni, Repsol, Total Energies, and World Energy. Of the 50 licenses, eight facilities are already in operation and more than 40 licensed plants are slated to be operational by 2030. The combined renewable fuels capacity of these plants when functioning to peak efficiency will exceed 500,000 barrels per day.
"The addition of Honeywell's Ecofining process is essential for us to meet our goal of producing one billion liters of Renewable Diesel and Sustainable Aviation Kerosene (SAF) per year from 2026 onwards, which will make our company one of the largest biofuel producers in the world. Through our "fully sustainable" project: economically, socially and environmentally responsible, we will show the world Brazil's full capacity to produce the fuel of the future," said Marcelo Cordaro, COO of Acelen Renewables.
About Honeywell
Honeywell is an integrated operating company serving a broad range of industries and geographies around the world. Our business is aligned with three powerful megatrends ? automation, the future of aviation and energy transition ? underpinned by our Honeywell Accelerator operating system and Honeywell Connected Enterprise integrated software platform. As a trusted partner, we help organizations solve the world's toughest, most complex challenges, providing actionable solutions and innovations through our Aerospace Technologies, Industrial Automation, Building Automation and Energy and Sustainability Solutions business segments that help make the world smarter, safer and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.
About Acelen Renewables
Acelen Renewables is a renewable energy company owned by Mubadala Capital, a global asset management company based in Abu Dhabi, UAE. It was created to actively participate in the global energy transition. Learn more at acelenrenewables.com
1 GHG reductions are based on LCA analyses conducted at Michigan Technological University under the direction of Dr. David Shonnard.
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SOURCE Honeywell
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