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Honeywell to Power Flights for FIFA World Cup

Zacks Equity Research

UOP LLC, a subsidiary of Honeywell International Inc. (HON), recently announced that Honeywell Green Jet Fuel will power 200 commercial flights operated by Brazilian carrier GOL Airlines for transporting the national soccer team during the 2014 FIFA World Cup.

Honeywell Green Jet Fuel is produced using the UOP Renewable Jet Fuel process. GOL Airlines will use a blend of Honeywell Green Jet Fuel with petroleum-based jet fuel. During the world cup alone, use of the renewable fuel is expected to reduce greenhouse gas emissions by 185 metric tons of carbon dioxide. Apart from lower emissions, the production of Honeywell Green Jet Fuel using a variety of non-edible feedstocks is expected to provide a renewable solution for jet fuel globally.

The use of Honeywell Green Jet Fuel can be implemented immediately as it is compatible with existing aircraft technology and meets all critical specifications for flight. The fuel was earlier used in 2012 for flights for the Rio+20 United Nations Conference in Rio de Janeiro, Brazil. For the 2014 FIFA World Cup, UOP has already supplied approximately 92,000 liters to GOL.

The continued use of the renewable fuel is a testimony to the company's claim that compared to traditional petroleum-based fuels, the Honeywell Green Jet Fuel can cut greenhouse gas emissions by upto 85%. Brazil is the world's second-largest biofuel producer, and together with the U.S., account for about 70% of the world's total consumption of biofuels based on data by the U.S. Energy Information Administration.

Honeywell is a global diversified technology and manufacturing company with 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 a look now include Carlisle Companies Incorporated (CSL), ITT Corporation. (ITT) and Noble Group Limited (NOBGY), each carrying a Zacks Rank #2 (Buy)


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