Boston, MA 10/02/2014 (wallstreetpr) – According to reports, advance process technology of Honeywell International Inc. (NYSE:HON) will be used to produce renewable diesel for U.S. Military. The announcement was made by UOP LLC stating that US Military was planning to use HON’s technology in the near future. UOP LLC is a wholly owned subsidiary of HON.
Insights of the project:
The advanced technology of Honeywell International Inc. (NYSE:HON) will be used by Military through the Advanced Drop-in Bio-fuels Production Project of U.S. Department of Defense. As per the reports, UOP/Eni Ecofining process technology of HON will be used by Emerald Biofuels LLC to refine animal fats and non-edible oils into renewable diesel. It is also known as Honeywell Green Diesel and can be a drop-in replacement for the normal petroleum diesel or conventional diesel that is used by individuals and industries. US Defense Department has signed a $70 million deal with Emerald in order to produce economically viable production capacity for top-notched drop-in bio-fuels. It focuses on several processes like refining, feed-stocks, logistics and transportation. One the basis of current progress and investment, Emerald is expected to produce total quantity of around 85 million gallons of renewable diesel every year under the project.
The management of UOP is extremely delighted to be a part of this project. According to Veronica May, Vice President and General Manager of Renewable Energy and Chemicals business unit of UOP, it’s a great opportunity for the company. UOP has over 100 years of experience refining and producing Honeywell International Inc. (NYSE:HON) Green Oil. It can be a permanent replacement of normal diesel, unlike bio-diesel. There is no need to change the engine or internal infrastructure of fuel in order to use it. It is a modern era technology, and there are a lot of projects lined up where it will be used for commercial purposes by the company in the near future. The company has already filed expected risk and uncertainties of it in Form 10-K and other filings with SEC.
