Agreement aims to provide customers a
carbon capture solution for power plants from
two leading energy solution providers
CHARLOTTE, N.C., Sept. 17,
2024 /PRNewswire/ -- Honeywell (Nasdaq: HON)
announced today a collaborative endeavor with SAMSUNG E&A to
jointly market solutions aimed at the hard-to-abate power plant
sector globally. The initiative seeks to reduce carbon emissions
and contribute to the fight against climate change. It also
supports Honeywell's alignment of its portfolio to three
powerful megatrends, including the energy transition.
SAMSUNG E&A, a total solutions provider for the global
energy industry, will leverage Honeywell's industry-leading carbon
capture technologies to help power plants reduce carbon emissions
and meet environmental goals. Together, the companies will offer
customers access to a carbon capture solution by jointly marketing
Honeywell's advanced solvent carbon capture (ASCC) technology.
"As two carbon capture leaders, our collaboration highlights the
importance of cooperative approaches in reducing greenhouse gas
emissions," said Hong Namkoong,
president and CEO of SAMSUNG E&A. "Deploying Honeywell's carbon
capture technologies allows SAMSUNG E&A to offer viable, more
sustainable solutions for global clients during this energy
transition."
Carbon capture, utilization, and storage (CCUS) can
significantly reduce carbon dioxide (CO2) emissions,
acting as a crucial stopgap during the expected transition from
fossil fuels to lower-carbon energy sources. These technologies
help to mitigate the environmental impact of various industries
responsible for greenhouse gas emissions.
"Honeywell has long been a global leader in carbon capture
technologies and our collaboration with SAMSUNG E&A only
further highlights our commitment to reducing emissions and
tackling climate challenges," said Ken
West, president and CEO of Honeywell Energy and
Sustainability Solutions. "With decades of experience and a broad
portfolio of carbon capture solutions, we are ready to help
businesses meet growing carbon mitigation expectations and
increasingly stringent environment goals by abating emissions from
existing sources."
Honeywell's CCUS technologies have been developed and
deployed in numerous applications globally. Between 2023 and 2030,
Honeywell estimates that the company's CCUS technologies will have
a cumulative impact of mitigating 320 million metric tons of
CO2e.1
For more information on Honeywell's CCUS technologies, visit
https://uop.honeywell.com/en/energy-transition/carbon-capture.
About Honeywell
Honeywell is an integrated operating company serving a broad
range of industries and geographies around the world. Our business
is aligned with three powerful megatrends – automation, the future
of aviation and energy transition – underpinned by our Honeywell
Accelerator operating system and Honeywell Forge IoT platform. As a
trusted partner, we help organizations solve the world's toughest,
most complex challenges, providing actionable solutions and
innovations through our Aerospace Technologies, Industrial
Automation, Building Automation and Energy and Sustainability
Solutions business segments that help make the world smarter, safer
and more sustainable. For more news and information on Honeywell,
please visit www.honeywell.com/newsroom.
About SAMSUNG E&A
SAMSUNG E&A is a total solutions provider, offers
comprehensive solutions in areas ranging from project development,
engineering, procurement, construction and commissioning to
O&M, taking the lead in the global energy industry such as
energy transition, oil-gas processing, refinery, petrochemical,
environmental, industrial and bio. SAMSUNG E&A has delivered
exceptional customer-oriented services, completing over 1,500
projects worldwide in regions such as the Middle East, Asia, Americas and Europe. For more news and information on
SAMSUNG E&A, please
visit https://www.samsungena.com/en/index.
1 Methodology for estimating GHG mitigation
impact is available at investor.honeywell.com (see "ESG/ESG
Information/GHG Mitigation Impact of Honeywell Technologies"). This
estimate is based on current and projected licenses of Honeywell
UOP Separex, ASCC and Blue hydrogen technologies for capture of
carbon dioxide from process gases and waste gas streams and
expected plant start-up dates.
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SOURCE Honeywell