Company’s Role in Energy Sector and the Impact on Indian Economy

India is now at the center of the energy transition, combining economic and energy demand growth with rapid decarbonization efforts. The country has set ambitious targets, including achieving 50 percent of its generation capacity from non-fossil fuel resources by 2030 and achieving net-zero emissions by 2070.

India’s power sector currently accounts for 34 percent of the nation’s total greenhouse gas (GHG) emissions, with fossil fuels making up 75 percent of the energy mix for electricity generation. Urgent action is required to decarbonize this sector, offering significant potential for reducing GHG emissions across residential, commercial, and industrial domains. Honeywell presents ready-now solutions leveraging renewable resources to aid India’s transition. These include smart microgrids for load management, energy storage solutions, and dispatchable power generators ensuring grid reliability amid fluctuations in renewable output.

The transport sector contributes 10 percent of India’s total GHG emissions, with more than 300 million vehicles on Indian roads. Decarbonizing road and rail transportation can be further accelerated by the adoption of green diesel. Honeywell’s Ecofining technology enables the production of green diesel that can be a drop-in replacement, requiring no changes to fleet technology or the fuel storage and delivery infrastructure. Depending

on the type of ethanol feedstock used, jet fuel produced from Honeywell’s ethanol-to-jet fuel process can reduce greenhouse gas (GHG) emissions by 80 percent on a total lifecycle basis, compared to petroleum-based jet fuel.

Industrial manufacturing constitutes 28 percent of India’s GHG emissions, with key sectors like steel, cement, refining, iron, aluminum, and mining expected to grow, amplifying both investments and emissions. Honeywell’s diverse range of process, environment, and industrial control systems can play a crucial role in transitioning these sectors to lower emissions.

To summarize, Honeywell’s Sustainability Solutions are developed based on foundational pillars of Circular Economy, Energy Evolution, Environmental Transformation, Health Safety, Security, Resilience, and Accountability. Globally, 60 percent of Honeywell’s research and development expenditure is focused on solving sustainability challenges for its customers, with much of the technology development work being undertaken in India, which is a matter of great pride for the company.

Skill Development and Training

Honeywell has driven technological collaboration and greater localization through partnerships for the last 4 decades. All of Honeywell’s global businesses have a strong legacy in India, built over the last eight decades. Honeywell’s India commitment is evident in 3 state-of-the-art manufacturing facilities and 4 global R&D centers of excellence for technology development and innovation. Most of these technologies breath life in these hubs which are run and managed by a diverse talent pool.  Honeywell has been actively engaged with various skill development programs and research- oriented projects across premier institutes (IISc and IITs) and multiple engineering colleges to mentor, nurture and engage the institutions in building an in-country strong engineering talent pool for critical domains like Energy Transition. In addition, their teams have been closely interacting with various government and industry fora on knowledge sharing and trainings for safety critical product development, aviation safety and certification.

Results Achieved/ Partnerships/ Future Programs

Over the last century, Honeywell engineers and chemists have shaped the refining, petrochemical and gas processing industries by turning laboratory science into industrial reality. Honeywell UOP processes produce the fuels that power our cars, trucks, jets, and trains. They make the natural gas that heats our homes and serves as a source of power generation. Biodegradable detergents and the plastic resins, films and fibers we use in commercial goods, packaging and fabrics are made with technologies from Honeywell. Honeywell continues to innovate to create flexible, future forward and sustainable solutions that address the challenges in our ever-changing world. We’re striving to create cleaner fuels by developing processes that reduce emissions and produce renewable fuel sources. Our process technologies, equipment and lifecycle solutions are helping customers generate the most value from every drop of oil, every cubic foot of natural gas and every ton of coal. And through connected software, Honeywell is helping customers become more efficient and profitable through digital tools that ensure plants are running at the peak of their capability. We are leading industry into the new world of energy.

Honeywell celebrated our 50th Renewable Fuels license in 2024. When functioning, the 50 sites have a combined capacity to produce more than 500,000 barrels per day of renewable fuel. Eight facilities are currently operational, and more than 40 licensed plants will be operational by 2030. From a catalyst perspective, Honeywell introduced 7 new catalyst offerings that have been commercialized and we are committed to R&D investment for future generation catalysts. These catalysts are seeing strong acceptance with customers, including multiple takeaways. Our sustainable technology solutions business is driving the clean energy movement forward. ExxonMobil selected Honeywell's CO2 Fractionation and Hydrogen Purification System - at its integrated complex in Baytown, Texas. This technology is expected to enable ExxonMobil to capture about 7 million tons of carbon dioxide (CO2) per year, the equivalent of the emission of 1.5 million of automobiles for one year. Honeywell’s digital transformation business is powering real time insights with our digital performance services that help unlock greater efficiencies, to benefit our customers’ bottom line. We recently announced a strategic collaboration with ESS Tech, Inc to advance technology development and market adoption of iron flow battery (IFB) energy storage systems. The relationship builds upon each company’s development of energy storage systems, and brings together ESS’ market-leading, patented IFB design with Honeywell’s advanced materials and energy systems expertise. And finally, Honeywell recently announced it will be acquiring Air Products' liquefied natural gas process technology and equipment business to expand on its LNG pretreatment business. Honeywell already pre-treats 50% of the world’s LNG and this acquisition makes it a more robust partner for customers within this industry. 

Global/Local Best Practices

Honeywell helps organizations solve the world's most complex challenges in automation, the future of aviation and energy transition. As a trusted partner, we provide actionable solutions and innovation through our Aerospace Technologies, Building Automation, Energy and Sustainability Solutions, and Industrial Automation business segments – powered by our Honeywell Forge software – that help make the world smarter, safer and more sustainable.

Honeywell exemplifies both global and local best practices through its commitment to innovation, sustainability, and community engagement. Globally, Honeywell sets industry standards by integrating advanced technologies, such as IoT and AI, into its products and services, ensuring operational excellence and efficiency across diverse sectors. The company's stringent adherence to international regulatory frameworks and quality certifications further underscores its dedication to best practices. Locally, Honeywell tailors its initiatives to meet specific community needs, fostering strong relationships through localized projects and investments. By prioritizing sustainable practices, reducing environmental impact, and promoting workforce diversity and inclusion, Honeywell demonstrates a holistic approach to best practices that benefits both global markets and local communities.