OCI sheds global methanol business for USD 2bn
Sep 09, 2024 18:21 CESTUS technology giant Honeywell (NYSE:HON) said on Monday it will partner with Spanish multi-energy group Repsol SA (BME:REP) on creating new production pathways for biofuels and circular materials, as well as their possible integration into Repsol’s facilities.
The companies intend to scale and commercialise Honeywell's technologies, which turn different wastes like fats, oils, greases, biomass and solids into chemicals and renewable fuels at Repsol’s refineries. Their aim is to produce a range of biofuels, including sustainable aviation fuel (SAF) and renewable diesel, by utilising existing refinery assets.
Repsol is also studying the deployment of a Honeywell technology, which converts waste plastic into recycled polymer feedstock for new plastics.
"Renewable fuels and plastics recycling are crucial to Repsol’s commitment to achieve net zero emissions by 2050,” stated Berta Cabello, Repsol’s director of renewable fuels.
The announcement builds on the companies’ cooperation, which includes Repsol’s selection last year of Honeywell’s Ecofining technology to produce renewable fuels from used cooking oil and waste animal fat at its plant in Puertollano, Spain.
OCI sheds global methanol business for USD 2bn
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