HONEYWELL WINS GOLDEN PEACOCK AWARD 2023 FOR THE MOST INNOVATIVE PRODUCT/SERVICE
Honeywell (NASDAQ:HON) today announced that Honeywell UOP India Private Limited has been awarded with the “Golden Peacock Innovative Product/Service Award” at the 30th Annual World Congress for its revolutionary Ethanol-to-jet (ETJ) technology. The award recognizes Honeywell’s maturity and significant achievements in promoting and innovating sustainable operations, renewable energy and cleaner fuels.
Honeywell pioneered SAF production and Honeywell ETJ process leverages more than a decade of Honeywell UOP’s Ecofining™ experience, low process carbon intensity and high yield of jet as proven by UOP’s track record in catalyst development and ability to economically scale from 30 thousand to a billion gallons per year. ETJ 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. Depending on the type of ethanol feedstock used, jet fuel produced from Honeywell’s ethanol-to-jet fuel process can reduce greenhouse gas (GHG) emissions by 80% on a total lifecycle basis, compared to petroleum-based jet fuel.
Kunal Ruvala, President, Honeywell Technology Solutions, said, “Winning the prestigious Golden Peacock Innovative Product/Service Award is a testament to Honeywell’s commitment to driving innovation and delivering impactful solutions in Sustainability for our customers. This recognition also validates the efforts of our engineers from Honeywell India Technology Center in developing ETJ technology that provides a more cleaner source of jet fuel to help reduce carbon emissions by the airline industry. We will continue our efforts in advancing sustainability in the industries we serve for more carbon conscious solutions.”
The Ethanol-to-jet technology is amongst a host of ready-now technology solutions that Honeywell has engineered with an aim to decarbonize and build clean solutions for various industries. The company has set ambitious targets to reduce its greenhouse gas emissions and has developed a wide range of technologies that help customers reduce their environmental impact, including developing ‘Refineries of the Future’ and identifying sustainable, cleaner fuel alternatives like renewable diesel, sustainable aviation fuels and green/blue hydrogen.
About 60% of Honeywell’s new product introduction research and development investment is directed toward products that improve environmental and social outcomes for customers and more than 60% of Honeywell’s global sales in 2021 comprised of solutions that contribute to ESG-oriented outcomes.
The Golden Peacock Awards, created by Institute of Directors in 1991 and awarded annually, are regarded as a benchmark of corporate excellence worldwide. Award nominations are evaluated and audited by an expert evaluation committee comprising domain experts from various sectors. The awards seek to create a competition for raising overall performance standards and recognize the achievements of the best performing organizations.