Latest news with #KenWest
Yahoo
7 hours ago
- Business
- Yahoo
HONEYWELL, JOHNSON MATTHEY, GIDARA ENERGY AND SAMSUNG E&A FORM SAF TECHNOLOGY ALLIANCE
Industry leaders form groundbreaking alliance to help drive the end-to-end production of SAF from biomass and municipal waste Joint technology offering leverages proven solutions to address the global need for feedstock diversity in SAF production Integrated solutions can reduce time from feasibility study to facility startup by more than 15%, and result in a 5-10% capital cost savings1 CHARLOTTE, N.C., June 5, 2025 /PRNewswire/ -- Honeywell (NASDAQ: HON), Johnson Matthey, GIDARA Energy and SAMSUNG E&A today announced the formation of a strategic technology alliance to bring a groundbreaking end-to-end global solution to market for producing sustainable aviation fuel (SAF) from biomass and municipal solid waste. The alliance brings together a wealth of diverse expertise and capabilities to help customers streamline the entire SAF production chain—from feedstock to final product. By collaborating, the companies plan to introduce a new joint technology offering that leverages the Fischer-Tropsch (FT) production process and aims to unlock abundant, globally available feedstock options to help meet the growing demand for SAF and support energy security. The joint approach aims to expedite project timelines and provide customers with a single point of accountability for project execution and product guarantees, ensuring communication, coordination and reliability throughout the SAF production process. With the resources of all four companies, the integrated and modular solution is expected to reduce the time between feasibility study and facility startup by more than 15% and can reduce capital expenditures by up to 10%.1 The innovative solution the technology alliance plans to bring to market is a non-exclusive offering designed for customers wanting a full-service delivery including: GIDARA Energy's proficiency in gasification and syngas production for feedstock transformation. Johnson Matthey brings advanced catalysts and technology for syngas to fuels. Honeywell's process technology and digital automation solutions. SAMSUNG E&A's global expertise in engineering, procurement, construction and project execution management. Over the near-term, the collaboration aims to scale the use of gasification and FT SAF production methods, while enabling biomass and municipal solid waste to be used as feedstocks. As the SAF industry faces limits of traditional feedstocks, this production method is becoming increasingly important with the International Energy Agency reporting that biofuels produced from waste and nonfood energy crops will meet more than 40% of total biofuel demand by 2030.2 SAF Technology Alliance Member Quotes "The launch of our innovative end-to-end SAF alliance demonstrates the power of collaboration to address the world's energy demands," said Ken West, President and CEO, Honeywell Energy and Sustainability Solutions. "As demand for SAF increases, the technology to expand available feedstock options becomes increasingly vital. This comprehensive alliance provides refiners with a strategic approach to quickly execute their vision." "The alliance targets the common challenges faced by SAF producers and offers a new way forward with greater speed and lower capital expense cost. Bringing such leading expertise together is critical in supporting our customers to reach the final investment decision on their projects and can help accelerate the deployment of SAF worldwide," said Maurits van Tol, CEO of Catalyst Technologies, Johnson Matthey. "This alliance exemplifies what's possible when expertise and ambition come together. By combining our forces, we are unlocking the value of waste to meet the growing demand for SAF," said Dr. Norbert Kamp, CEO, GIDARA Energy. "We are not just providing a technical solution – we are helping clients and communities realize the potential of waste as a catalyst for a future supported by cleaner energy sources." "At SAMSUNG E&A, we believe that delivering end-to-end SAF solutions requires more than innovation—it demands strong alliances with world-class technology providers. By integrating these advanced technologies and leveraging our proven engineering, procurement, and construction (EPC) execution excellence, we are building a resilient and scalable SAF value chain that will drive the future of sustainable aviation," said Hong Namkoong, President and CEO of SAMSUNG E&A. The new alliance builds on the strong synthetic fuel collaboration between Johnson Matthey and Honeywell to provide methanol-to-jet and FT pathway solutions. Together, Honeywell, Johnson Matthey, GIDARA Energy and SAMSUNG E&A are committed to fostering innovation and leading the movement toward increased global energy security. For more information about this alliance, visit Honeywell's recent announcement of its intention to acquire Johnson Matthey's Catalyst Technologies business segment is wholly distinct from the alliance referenced in this press release. Discussions regarding the alliance were part of ordinary course discussions between Honeywell and Johnson Matthey's Catalyst Technologies business segment. GIDARA Energy is a portfolio company of Ara Partners, a global private equity firm that is decarbonizing the industrial economy. About HoneywellHoneywell 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 Forge IoT 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 and safer as well as more secure and sustainable. For more news and information on Honeywell, please visit About Johnson MattheyJohnson Matthey is a global leader in sustainable technologies. For over 200 years we've used advanced metals chemistry to tackle the world's biggest challenges. Many of the world's leading energy, chemicals and automotive companies depend on our technology and expertise to decarbonise, reduce harmful emissions and improve their sustainability. And now, as the world faces the challenges of climate change, energy supply and resource scarcity, we're actively providing solutions for our customers. Through inspiring science and continued innovation, we're catalysing the net zero transition for millions of people every day. For more information visit About GIDARA EnergyGIDARA Energy is a leading technology partner in the energy transition, specializing in the conversion of non-recyclable waste into sustainable fuels and circular chemicals. Utilizing its industrially proven HTW® gasification technology, GIDARA Energy delivers scalable, cost-effective solutions that address the global feedstock gap and accelerate decarbonization. With a steadfast commitment to sustainability, innovation, and collaboration, GIDARA Energy empowers industries and communities to unlock the value of waste, driving measurable impact for a cleaner, more sustainable future. For more information, please visit About Ara PartnersAra Partners is a global private equity and infrastructure investment firm focused on industrial decarbonization. Founded in 2017, Ara Partners seeks to build and scale companies with significant decarbonization impact across the industrial and manufacturing, chemicals and materials, energy efficiency and green fuels, and food and agriculture sectors. The company operates from offices in Houston, Boston, Washington, D.C., and Dublin. Ara Partners closed its third private equity fund in December 2023 with over $2.8 billion in capital commitments. As of December 31, 2024, Ara Partners had approximately $6.2 billion of assets under management. For more information about Ara Partners, please visit About SAMSUNG E&AAt SAMSUNG E&A, we aim to create value based on the world's best technological competence and contribute to our clients, society, and people. SAMSUNG E&A, a total solutions provider, offers comprehensive solutions for the global energy industry, such as energy transition, oil-gas processing, refinery, petrochemical, environmental, industrial, and bio. Providing professional services across the whole project cycle ranging from professional feasibility studies to design, procurement, construction, commissioning, maintenance & operation. SAMSUNG E&A has completed more than 1,500 projects worldwide. To prepare for ESG-based eco-friendly businesses in the future, we expanded our value chain to the business of operating green infrastructure, such as water treatment facilities and incinerators, and green solution businesses for energy optimization and carbon neutrality. To preemptively respond to changes in the global energy industry and take the lead in resolving global warming, we will provide optimal solutions based on our technologies and expertise. For more information, please visit Contacts: Honeywell:Melissa Volin+1 Johnson Matthey:Sinead Keller+44 207 269 8001 jmpr@ GIDARA Energy:Cristina Groian+31 SAMSUNG E&A:Jin Hartmann+ 1 Based on theoretical schedule and cost analysis when the modularization solution is applied in the EPC stage. Schedule analysis based on industry standard benchmarks for project schedule outcomes. Cost comparison is against an open ITB and using standard industry practice upside technology integration.2 View original content to download multimedia: SOURCE Honeywell International Inc.
Fibre2Fashion
26-05-2025
- Business
- Fibre2Fashion
Honeywell US to buy Johnson Matthey's catalyst business for $2.43 bn
Honeywell (NASDAQ: HON) announced that it has agreed to acquire Johnson Matthey's Catalyst Technologies business segment for £1.8 billion (~$2.43 billion) in an all-cash transaction, representing approximately 11x estimated 2025 EBITDA, inclusive of tax benefits and run-rate cost synergies. The combination of Johnson Matthey's Catalyst Technologies business with Honeywell's Energy and Sustainability Solutions (ESS) business segment is expected to add attractive high growth vectors to the portfolio and drive significant additional benefits through cost synergies. Johnson Matthey's Catalyst Technologies' business model complements Honeywell's existing UOP business of selling catalyst and process technologies and expands its installed base across refining and petrochemical catalysts. In addition, with an expanded portfolio, Honeywell will for the first time be able to offer customers a comprehensive solution for the production of lower emission, critical fuels including sustainable methanol, sustainable aviation fuel (SAF), blue hydrogen and blue ammonia, which enhance energy security and reduce emissions. The resulting offerings will provide licensed technology, engineering, services and catalysts to convert hydrocarbon and renewable feedstocks to high-value end products. Honeywell has agreed to acquire Johnson Matthey's Catalyst Technologies business for £1.8 billion (~$2.43 bn), enhancing its Energy and Sustainability Solutions portfolio. This acquisition will enable Honeywell to offer comprehensive solutions for lower emission fuels like SAF and blue hydrogen. The deal is expected to close by 1H 2026, boosting Honeywell's growth and synergies. "The acquisition of Johnson Matthey's Catalyst Technologies business broadens Honeywell's role as a world-class technology provider of critical energy needed to drive growth into the future – further strengthening our model of combining process technologies and process automation," said Vimal Kapur, Chairman and CEO of Honeywell . "As demand for diversified sources of energy continues accelerating, we will better enable Honeywell to offer the innovation our customers need." Johnson Matthey's Catalyst Technologies business segment is a leading provider of catalyst manufacturing and process technology licensing. It has approximately 1,900 employees and is headquartered in London, United Kingdom, with sites in the U.S., Europe and India. "As we continue to expand and evolve our ESS portfolio, acquiring Johnson Matthey's Catalyst Technologies business will provide our customers a comprehensive and cost-effective approach to transition their businesses to high-value products with lower emissions," said Ken West, President and CEO of Honeywell's ESS segment . "Together, we will be able to create an integrated solution while also diversifying our UOP projects and service offerings to help our customers around the world continue innovating and driving energy security for the future." The acquisition is expected to be accretive to earnings in the first year and will add attractive high growth vectors to Honeywell's ESS business. The acquisition follows Honeywell's announcement of the planned spin-off of its Aerospace Technologies business along with the planned spin-off of its Advanced Materials business, which will result in three publicly listed industry leaders with distinct strategies and growth drivers. Since December 2023, Honeywell has announced a number of strategic actions to drive organic growth and simplify its portfolio, including approximately $11 billion of accretive acquisitions recently closed or announced: the Access Solutions business from Carrier Global, Civitanavi Systems, CAES Systems, the LNG business from Air Products, and Sundyne. In addition, Honeywell entered into an agreement to divest its Personal Protective Equipment business, which is expected to close in Q2 2025. Honeywell remains on pace to exceed its commitment to deploy at least $25 billion toward high-return capital expenditures, dividends, opportunistic share purchases and accretive acquisitions through 2025. Honeywell's acquisition of Johnson Matthey's Catalyst Technologies business segment is expected to close by 1H 2026, subject to customary closing conditions, including receipt of certain regulatory approvals. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. Fibre2Fashion News Desk (MS)
Associated Press
30-04-2025
- Business
- Associated Press
HONEYWELL SURVEY FINDS AI HAS POTENTIAL TO ENHANCE ENERGY SECURITY AS GLOBAL ENERGY DEMAND INCREASES
Cybersecurity, predictive maintenance and operational efficiency identified as most valuable uses of AI for the energy industry This builds on analysis from Bloomberg that shows overall global energy demand will increase 32% by 2050 CHARLOTTE, N.C., April 30, 2025 /PRNewswire/ -- Honeywell (Nasdaq: HON) today released its AI in the Energy Industry pulse survey, which reveals the majority of participating U.S. energy executives believe artificial intelligence (AI) has the near-term potential to improve and enhance energy security. According to the April 2025 BloombergNEF New Energy Outlook report, overall global energy demand is expected to increase 32% by 2050, with demand for electricity alone expected to increase 75%. To meet this growing demand, energy leaders will need to harness new sources of energy and optimize their current operations using AI and digital technologies. Honeywell's survey of 300 U.S. decision-makers and influencers in energy and energy-adjacent industries found 91% believe AI has near-term potential to enhance energy security and 85% are already either actively using or piloting AI in their companies today. While only 12% of respondents said AI is currently a critical part of their energy operations, 81% said it will become critical over the course of the next five years – demonstrating the importance of energy security and massive anticipated uptick in adoption expected in the short term. When looking across use cases, 94% are also either already engaged with an AI solutions provider or considering doing so as momentum behind the technology continues to grow. 'To meet the growing energy demands, industry leaders are leveraging new technology solutions to help address some of the most pressing challenges — enhancing energy security, optimizing current infrastructure, harnessing new sources of energy and augmenting the workforce,' said Ken West, President and CEO of Honeywell Energy and Sustainability Solutions. 'Looking ahead, new technologies like AI and automation can further optimize existing energy systems and integrate new energy sources more swiftly and efficiently.' When asked the most valuable aspects of AI, energy decision-makers surveyed identified several key areas of operations, such as cybersecurity and threat detection (57%), predictive maintenance (52%), and operational efficiency (44%). The survey also found that more than half of respondents (53%) are using AI to address labor shortages and workforce upskilling through virtual assistants, 53% are using to enhance workplace safety and security through monitoring and threat detection and only one-third (36%) are using AI to automate routine tasks. To learn more about the survey results and how Honeywell's AI solutions are helping to shape the energy sector, please visit Methodology Honeywell commissioned research firm Hudson Pacific to conduct the Honeywell AI in Energy Industry Survey from March 24, 2025 through April 1, 2025. This opinion research is based on responses from 300 U.S. decision-makers and influencers in energy and energy-adjacent industries on their use of artificial intelligence. Respondents included those in oil and gas, electricity generation and distribution, utility construction, solar field development, wind turbine transportation or construction, natural gas distribution, mining, carbon management, chemical manufacturing and more. Leaders taking the survey had input into their company's use of AI in its operations. 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 Forge IoT 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 and safer as well as more secure and sustainable. For more news and information on Honeywell, please visit Disclaimer: The information presented in this document is intended solely for informational purposes and not as advice or recommendations for any particular action or investment. The information should not be relied upon, in whole or in part, as the basis for decision-making or investment purposes. The document and its contents are not guaranteed as to accuracy or completeness and are provided on an 'as is' basis. Use of this information is at your own risk. Honeywell disclaims all warranties as to the accuracy, completeness, or adequacy of such information and shall have no liability for errors, omissions, or inadequacies in such information. This document includes opinions that should not be construed as statements of fact. Any opinions expressed herein are subject to change without notice. Any forecasts and forward-looking statements are directional indicators, are not predictions of future events, and do not in any way reflect expectations for (or actual) Honeywell operational or financial performance. Any forecasts and forward-looking statements represent our current judgment and are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forecasts and forward-looking statements, which reflect our opinions only as of the date of publication of this document. Honeywell is not obligated to revise or publicly release the results of any revision to these forecasts and forward-looking statements in light of new information or future events. Media Contact: Melissa Volin +1 (980) 502-9330 [email protected] View original content to download multimedia: SOURCE Honeywell International, Inc.
