Honeywell (HON) Collaborates With GranBio to Produce SAF
Honeywell International HON has collaborated with GranBio Technologies to produce carbon-neutral sustainable aviation fuel (SAF), which would help airlines move forward in their net-zero goals.
As part of the deal, Honeywell's ethanol-to-jet (ETJ) technology will be combined with GranBio's cellulosic ethanol AVAP technology to produce SAF from biomass residues at GranBio's forthcoming U.S. demonstration plant.
GranBio's AVAP process converts biomass, including forest and agricultural residues, to pure low-cost and low-carbon-intensity sugars, which are converted to SAF through HON’s ETJ technology and biochemicals.
Honeywell International Inc. Price
Honeywell International Inc. price | Honeywell International Inc. Quote
Honeywell offers solutions across a range of feedstocks to cater to the growing demand for renewable fuels, including SAF. HON recently boosted its renewable fuels portfolio by adding Honeywell UOP eFining, which converts green hydrogen and carbon dioxide into eFuels.
The company has a commitment to achieve carbon neutrality in its operations and facilities by 2035. The company aims to advance its sustainability goals by developing innovative technologies and collaborating with companies focused on sustainability. Last month, HON announced a strategic collaboration with energy storage company, ESS Tech, Inc. GWH to accelerate technology development and the market adoption of iron flow battery (IFB) energy storage systems. As part of this agreement, HON has invested in ESS Tech.
ESS Tech provides safe, sustainable and long-duration energy storage to advance global decarbonization. While Honeywell carries a Zacks Rank #3 (Hold), ESS Tech has a Zacks Rank #2 (Buy) at present.
The partnership combines Honeywell’s advanced materials and energy systems expertise with ESS Tech’s market-leading and patented IFB design, building upon each company’s development of energy storage systems.
Earlier this month, HON unveiled a new infrared-based technology that helps in the early detection of hydrogen flames and prevents major fires. The FS24X Plus flame detector promotes clean hydrogen, which has a much lower carbon impact than traditional energy sources.
Stocks to Consider
Here are some stocks worth considering apart from ESS Tech:
Axon Enterprise AXON sports a Zacks Rank #1 (Strong Buy) at present. The company pulled off a trailing four-quarter earnings surprise of 60.2%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
Axon has an estimated earnings growth rate of 62.1% for the current year. The stock has rallied around 82% in a year.
Applied Industrial Technologies AIT also flaunts a Zacks Rank #1 at present. The company delivered a trailing four-quarter earnings surprise of 15%, on average.
Applied Industrial has an estimated earnings growth rate of 4.3% for the current fiscal year. The stock has surged 45.8% in a year.
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ESS Tech, Inc. (GWH) : Free Stock Analysis Report
