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TheStreet Open House

Honeywell's UOP Green Fuels Technology Selected By Petrixo To Produce Renewable Jet Fuel And Diesel

Stocks in this article: HON

DES PLAINES, Ill., July 9, 2014 /PRNewswire/ -- UOP LLC, a Honeywell (NYSE: HON) company, announced today that its green fuels process technology has been selected by Petrixo Oil & Gas to produce renewable jet fuel and renewable diesel at a new refinery to be built in Fujairah, United Arab Emirates.

Petrixo will use UOP Renewable Jet Fuel process technology to process approximately 500,000 metric tons per year of renewable feedstocks into renewable jet fuel and renewable diesel, also known as Honeywell Green Jet Fuel TM and Honeywell Green Diesel TM. The process technology is capable of processing a variety of renewable feedstocks.

Petrixo announced earlier this year that it will invest $800 million to build the new refinery, which will have a design capacity of 1 million tons per year of biofuel products, and will be the first commercial-scale renewable jet fuel production facility outside of North America.

"Petrixo believes that new energy solutions are immensely important for scalable, environmental and renewable solutions," said Dr. Eid Al Olayyan, chief executive officer of Petrixo Oil & Gas. "UOP's green fuels technologies are proven refining solutions that produce high-quality products compatible with petroleum-based fuels."

The UOP technology is designed to provide flexibility to adjust the feedstock mix depending on parameters such as cost and availability. The technology also enables the adoption of newer-generation feedstocks, such as oils derived from algae and halophytes, as scalable supply chains for these lipids develop.

"UOP's renewable process technologies produce real fuels, rather than fuel additives such as biodiesel, that fit seamlessly into existing fuel supply chains," said Veronica May, vice president and general manager of UOP's Renewable Energy and Chemicals business unit. "The renewable fuels produced by our technology also offer lower greenhouse gas emissions relative to traditional petroleum-based fuels."

Blended up to 50 percent with petroleum-based jet fuel, Honeywell Green Jet Fuel requires no changes to aircraft technology, meets all critical specifications for flight, and can reduce greenhouse gas emissions by 65 to 85 percent compared with petroleum-based fuels.

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