HONEYWELL AND SAMSUNG E&A PLAN COLLABORATION TO HELP REDUCE POWER PLANT EMISSIONS
Honeywell (Nasdaq: HON) has announced a collaborative effort with SAMSUNG E&A to jointly market solutions aimed at reducing carbon emissions in the power plant sector globally. The initiative aligns with Honeywell's focus on the energy transition megatrend. SAMSUNG E&A will leverage Honeywell's advanced solvent carbon capture (ASCC) technology to help power plants meet environmental goals.
This collaboration highlights the importance of cooperative approaches in reducing greenhouse gas emissions. Carbon capture, utilization, and storage (CCUS) technologies are seen as important in mitigating environmental impact during the transition from fossil fuels to lower-carbon energy sources. Honeywell estimates that between 2023 and 2030, its CCUS technologies will have a cumulative impact of mitigating 320 million metric tons of CO2e.
Honeywell (Nasdaq: HON) ha annunciato uno sforzo collaborativo con SAMSUNG E&A per commercializzare congiuntamente soluzioni volte a ridurre le emissioni di carbonio nel settore delle centrali elettriche a livello globale. L'iniziativa si allinea con l'attenzione di Honeywell sulla mega tendenza della transizione energetica. SAMSUNG E&A sfrutterà la tecnologia avanzata di cattura del carbonio con solventi (ASCC) di Honeywell per aiutare le centrali elettriche a raggiungere obiettivi ambientali.
Questa collaborazione evidenzia l'importanza di approcci cooperativi nella riduzione delle emissioni di gas serra. Le tecnologie di cattura, utilizzo e stoccaggio del carbonio (CCUS) sono considerate fondamentali per mitigare l'impatto ambientale durante la transizione dai combustibili fossili a fonti energetiche a basse emissioni di carbonio. Honeywell stima che tra il 2023 e il 2030, le sue tecnologie CCUS avranno un impatto cumulativo di mitigazione di 320 milioni di tonnellate metriche di CO2e.
Honeywell (Nasdaq: HON) ha anunciado un esfuerzo colaborativo con SAMSUNG E&A para comercializar conjuntamente soluciones destinadas a reducir las emisiones de carbono en el sector de plantas de energía a nivel mundial. La iniciativa se alinea con el enfoque de Honeywell en la mega tendencia de la transición energética. SAMSUNG E&A aprovechará la tecnología avanzada de captura de carbono con solventes (ASCC) de Honeywell para ayudar a las plantas de energía a cumplir con sus objetivos ambientales.
Esta colaboración resalta la importancia de los enfoques cooperativos en la reducción de las emisiones de gases de efecto invernadero. Las tecnologías de captura, utilización y almacenamiento de carbono (CCUS) se consideran importantes para mitigar el impacto ambiental durante la transición de combustibles fósiles a fuentes de energía de menor carbono. Honeywell estima que entre 2023 y 2030, sus tecnologías CCUS tendrán un impacto acumulativo de mitigación de 320 millones de toneladas métricas de CO2e.
Honeywell (Nasdaq: HON)는 전 세계 발전소 부문의 탄소 배출 감소를 목표로 하는 솔루션을 공동 마케팅하기 위해 SAMSUNG E&A와 협력 노력을 발표했습니다. 이 이니셔티브는 에너지 전환 메가 트렌드에 대한 Honeywell의 초점과 일치합니다. SAMSUNG E&A는 발전소가 환경 목표를 달성하도록 돕기 위해 Honeywell의 고급 용매 탄소 포집 기술(ASCC)을 활용할 것입니다.
이번 협업은 온실가스 배출 감소에서 협력적 접근의 중요성을 강조합니다. 탄소 포집, 활용 및 저장(CCUS) 기술은 화석 연료에서 저탄소 에너지 소스로의 전환 중 환경 영향을 완화하는 데 중요한 것으로 여겨집니다. Honeywell은 2023년부터 2030년 사이에 자사의 CCUS 기술이 3억 2천만 미터톤의 CO2e 완화에 누적적으로 기여할 것이라고 추정하고 있습니다.
Honeywell (Nasdaq: HON) a annoncé un effort collaboratif avec SAMSUNG E&A pour commercialiser conjointement des solutions visant à réduire les émissions de carbone dans le secteur des centrales électriques à l'échelle mondiale. Cette initiative est conforme à l'accent mis par Honeywell sur la mégatendance de la transition énergétique. SAMSUNG E&A tirera parti de la technologie avancée de capture du carbone par solvant (ASCC) de Honeywell pour aider les centrales électriques à atteindre leurs objectifs environnementaux.
Cette collaboration met en avant l'importance des approches coopératives dans la réduction des émissions de gaz à effet de serre. Les technologies de capture, d'utilisation et de stockage du carbone (CCUS) sont considérées comme essentielles pour atténuer l'impact environnemental lors de la transition des combustibles fossiles vers des sources d'énergie à faible émission de carbone. Honeywell estime qu'entre 2023 et 2030, ses technologies CCUS auront un impact cumulatif sur la réduction de 320 millions de tonnes métriques de CO2e.
Honeywell (Nasdaq: HON) hat eine Zusammenarbeit mit SAMSUNG E&A angekündigt, um gemeinsam Lösungen zu vermarkten, die darauf abzielen, die Kohlenstoffemissionen im globalen Kraftwerkssektor zu reduzieren. Die Initiative steht im Einklang mit Honeywells Fokus auf den Megatrend der Energiewende. SAMSUNG E&A wird Honeywells fortschrittliche Lösung zur Kohlenstoffabscheidung (ASCC) nutzen, um Kraftwerke dabei zu unterstützen, Umweltziele zu erreichen.
Diese Zusammenarbeit unterstreicht die Bedeutung kooperativer Ansätze zur Reduzierung von Treibhausgasemissionen. Technologien zur Kohlenstoffabscheidung, -nutzung und -speicherung (CCUS) gelten als wichtig, um die Umweltauswirkungen während des Übergangs von fossilen Brennstoffen zu kohlenstoffärmeren Energiequellen zu mindern. Honeywell schätzt, dass zwischen 2023 und 2030 seine CCUS-Technologien einen kumulativen Einfluss auf die Minderung von 320 Millionen metrischen Tonnen CO2e haben werden.
- Collaboration with SAMSUNG E&A expands Honeywell's market reach in the power plant sector
- Alignment with energy transition megatrend positions Honeywell for future growth
- Potential for significant environmental impact, with estimated 320 million metric tons of CO2e mitigation by 2030
- None.
Insights
This collaboration between Honeywell and SAMSUNG E&A marks a significant step in addressing the hard-to-abate power plant sector's emissions. The joint marketing of Honeywell's advanced solvent carbon capture (ASCC) technology could accelerate the adoption of carbon capture, utilization and storage (CCUS) solutions globally.
The potential impact is substantial, with Honeywell estimating a cumulative mitigation of 320 million metric tons of CO2e between 2023 and 2030 using their CCUS technologies. This partnership could play a important role in helping power plants meet increasingly stringent environmental goals and contribute to the global energy transition.
However, it's important to note that while CCUS is a promising stopgap measure, it doesn't address the root cause of emissions. The long-term sustainability of this approach will depend on the parallel development of renewable energy sources and the overall reduction of fossil fuel dependence.
This collaboration positions both Honeywell and SAMSUNG E&A strategically in the growing carbon capture market. With increasing global pressure to reduce emissions, the demand for CCUS technologies is expected to surge, particularly in regions with stringent environmental regulations.
For Honeywell, this partnership could expand its market reach, especially in regions where SAMSUNG E&A has a strong presence. It aligns with Honeywell's focus on the energy transition megatrend, potentially boosting its revenue streams in this sector.
Investors should monitor the adoption rate of this joint solution and any subsequent large-scale projects or contracts. The success of this collaboration could significantly impact both companies' positions in the green technology market, potentially leading to increased market share and revenue growth in the medium to long term.
Agreement aims to provide customers a carbon capture solution for power plants from
two leading energy solution providers
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
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
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