Honeywell and SGP BioEnergy to develop plant-based biochemicals, reducing industry’s reliance on fossil fuels

• Honeywell technology will use second-generation feedstock to advance biochemical production
• SGP BioEnergy will be the first company to use and scale the new technology

CHARLOTTE, N.C., Oct. 8, 2024 - Honeywell (NASDAQ: HON) and SGP BioEnergy today announced they are working together to develop new, scalable technology to convert industrial hemp and other plant-based material into biochemicals that can be used to produce plastics and other everyday items, offering an alternative to chemicals produced from fossil fuels.

As part of this collaboration, Honeywell will develop the new technology that enables plant material to be used as feedstock for biochemical production on an expanded scale. SGP BioEnergy will provide the infrastructure, workforce and second-generation feedstock, including industrial hemp, for this initiative through its “READY.GROW.” program.

To ensure safe and efficient unit operations, Honeywell will provide ongoing operational support and workforce training for the team at SGP BioEnergy. The collaboration with SGP BioEnergy supports Honeywell’s alignment of its portfolio to three powerful megatrends, including the energy transition.

“Honeywell is committed to developing innovative solutions to help enable the energy transition. This cutting-edge technology will enable the production of a variety of petrochemical alternatives using second-generation feedstocks,” said Bryan Glover, chief technology and growth officer of Honeywell Energy and Sustainability Solutions. “By using hemp and other non-edible feedstocks to produce these important chemicals, Honeywell and SGP BioEnergy are helping to reduce the world’s reliance on fossil fuels without impacting the food chain.”

“Advancements in the creation and use of biochemicals and biomass are bringing the world to a transformative inflection point. The global stakeholder demand is continually growing, and policies to incentivize cleaner and safer solutions are aligned among many of those stakeholders,” said Randy Delbert Letang, founder, president and CEO of SGP BioEnergy. “Honeywell’s leadership, technological renown and commitment to accelerating the energy transition made it a perfect partner for this initiative given our ‘Zero Waste Ecosystem’ model and continued efforts towards decarbonization.”

For more information about Honeywell’s range of technologies driving the energy transition, visit: https://ess.honeywell.com/us/en/solutions/sustainability. 

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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 SGP BioEnergy
SGP BioEnergy is a fully integrated bioenergy products development company working towards a Net Zero global economy. By leveraging existing, proven technology and infrastructure, SGP BioEnergy solves for the transition from traditional energy sources to those that are clean and renewable. Utilizing the global energy sector’s best kept secret, carbon neutral, non-food crops such as industrial hemp, we produce advanced biofuels such as Sustainable Aviation Fuel, renewable diesel for marine and electricity, Green Hydrogen, and Net Zero e-fuels. We believe agriculture is the new oil, and with our collaborative, people-first approach, SGP BioEnergy fosters global industrial, social, economic, and humanitarian impact, creating a more sustainable future for the world. Learn more at www.sgpbioenergy.com.