HON's Biofuel Powers Gulfstream - Analyst Blog
22 Juin 2011 - 1:45PM
Zacks
Honeywell International
Inc.’s (HON) Green Jet Fuel was recently used to power the
first transatlantic biofuel flight, Gulfstream G450. The flight,
operated by Honeywell, landed at the Paris-Le Bourget Airport.
Gulfstream G450 was the first
aircraft to fly from North America to Europe, and will be powered
by equal proportion of Honeywell Green Jet Fuel and petroleum-based
jet fuel. The mixed fuel powered one of the aircraft's Rolls-Royce
engines. Moreover, Gulfstream G450 was the first business jet to
fly on biofuel.
The bio-fuel used to power the
business jet has been derived from an energy crop called camelina.
This energy crop production does not interfere with food crop
production cycle and was grown and harvested by Sustainable Oils, a
U.S.-based producer of camelina-based technology.
The use of Honeywell Green Jet Fuel
decreased carbon dioxide emissions of the Gulfstream G450 by about
5.5 metric tons more in comparison with the flight being powered by
petroleum-based fuel. Gulfstream targets to achieve carbon neutral
growth by 2020 and reduce 50% carbon emissions by 2050 in relation
to 2005.
Honeywell’s short-cycle businesses
as well as its commercial aerospace spares and residential and
commercial retrofit businesses are performing impressively well and
are expected to support future growth outlook of the company.
First-quarter 2011 was the eighth consecutive quarter in which
orders in short-cycle businesses have increased. The company’s
long-cycle backlog continued to be at near record levels.
The savings incurred from the
implementation of Honeywell’s building techniques will be used for
development without any need for outside funding. Further, the
program will create job facilities for local contractors and
housing authority residents.
Based in Morris Township, N.J.,
Honeywell International Inc. is a Fortune 100 company providing
technical and manufacturing support to customers worldwide. It also
provides aerospace products and services; control technologies for
buildings, homes and industry; automotive products; turbochargers;
and specialty materials. Major competitors of Honeywell are
BorgWarner Inc. (BWA), United Technologies
Corp. (UTX) and Johnson Controls Inc.
(JCI).
We currently maintain our Neutral
rating on Honeywell, with a Zacks #2 Rank (Buy recommendation) over
the next one-to-three months.
BORG WARNER INC (BWA): Free Stock Analysis Report
HONEYWELL INTL (HON): Free Stock Analysis Report
JOHNSON CONTROL (JCI): Free Stock Analysis Report
UTD TECHS CORP (UTX): Free Stock Analysis Report
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