UOP LLC, a subsidiary of
Honeywell International Inc
), recently announced that its green fuels process technology has
been selected by Petrixo Oil & Gas - a part of Petrixo Group in
United Arab Emirates (UAE), to process approximately 500,000 metric
tons of renewable feedstocks annually into renewable jet fuel and
Renewable jet fuel and renewable diesel, also known as Honeywell
Green Jet Fuel and Honeywell Green Diesel, will be used for a new
refinery to be built in Fujairah, UAE. Earlier in 2014, Petrixo
announced its decision to invest $800 million to build the new
refinery, which will have a design capacity of 1 million tons of
biofuel products annually - the largest commercial jet fuel
production outside North America. Honeywell Green Diesel
offers high energy density and superior performance over biodiesel
and petroleum-based diesel, including a higher cetane value. The
green fuel technologies are one of the best refining solutions that
produce high-quality products and are well suited for scalable,
environmental and renewable solutions.
Also, the company commercialized the UOP Renewable Jet Fuel Process
to produce renewable jet fuel for the U.S. military. The jet fuel
produced can be blended flawlessly with petroleum-based fuel with
no changes to aircraft technology, maintaining the critical
specifications for flight.
Honeywell is a globally diversified technology and manufacturing
company offering a wide range of products and services. These
include control, sensing and security technologies for buildings,
homes and industry, turbochargers, automotive products, specialty
chemicals, electronic and advanced materials, process technology
for refining and petrochemicals as well as energy efficient
products and solutions for homes, business and transportation.
Honeywell currently has a Zacks Rank #3 (Hold). Other stocks
that look promising and are worth reckoning include
Noble Group Limited
), carrying a Zacks Rank #1 (Strong Buy), along with
United Technologies Corp.
), carrying a Zacks Rank #2 (Buy) each.
Want the latest recommendations from Zacks Investment Research?
Today, you can download 7 Best Stocks for the Next 30 Days.
Click to get this free report
ITT CORP (ITT): Free Stock Analysis Report
HONEYWELL INTL (HON): Free Stock Analysis
UTD TECHS CORP (UTX): Free Stock Analysis
NOBLE GROUP LTD (NOBGY): Get Free Report
To read this article on Zacks.com click here.