Honeywell eyes expansion from energy transition

The industrial conglomerate Honeywell says the Chinese renewable energy industry’s rapidly growing momentum and growth potential have persuaded it to deepen its collaboration in the country.

In doing so it can continue promoting the application of its technologies in carbon capture, utilization and storage and hydrogen, it said.

As China goes full throttle on its energy transition with the aim of becoming carbonneutral before 2060, Honeywell expects more growth as well as local partnership opportunities in China, said Liu Maoshu, vice-president and general manager of Honeywell Performance Materials and Technologies Asia-Pacific, a strategic business group of the global parent company.

China’s energy transition is expected to provide great opportunities for global energy companies such as Honeywell, he said.

Honeywell said it is optimistic about the opportunities brought by the development prospects of China’s energy, aviation, building and petrochemical sectors. There is inherent potential for technological innovation and applications, which these sectors have sought to harness in recent years, he said.

According to the latest China-U.S. statement on enhancing climate cooperation, the two countries aim to advance at least five large-scale cooperative projects each in carbon capture, utilization and storage by 2030, including from industrial and energy sources. This is where Honeywell sees huge potential and plans to continue promoting the application of its technologies in China, Liu said.

The company has signed an agreement with Sennics Co. Ltd., a subsidiary of Sinochem International Corp., to provide processing technologies and services to Sennics’ coal hydrogenation and carbon capture, utilization and storage projects.

“The surging demand for carbon capture, utilization and storage in China provides Honeywell with a substantial opportunity to grow its energy transition and sustainability business,” he said.

“We firmly believe that this will further help integrate and scale up our growing low-carbon energy offerings in the country.”