DES PLAINES, Ill. and HOUSTON, Aug. 3, 2016 /PRNewswire/ -- Honeywell (NYSE: HON) UOP and ExxonMobil announced a technology licensing agreement with Hainan Handi Sunshine Petrochemical Co., Ltd., marking the first project in China under a joint marketing alliance for premium fuels and lubes between the two technology providers.
The integrated UOP and ExxonMobil technology platform enables Handi Sunshine to meet growing demand in China for cleaner-burning jet fuel and diesel along with high-quality Group II/III base oils, which are typically used in premium, high performance motor oils and industrial lubricants. Honeywell UOP's Unicracking™ technology and ExxonMobil's MSDW™ catalytic lubes de-waxing technology will be installed at the Hainan, China facility.
"The combination of UOP's hydroprocessing solutions and ExxonMobil's catalytic dewaxing technology provides a single, integrated solution for Handi Sunshine to produce fuels and lubes," said Mike Millard, vice president and general manager of Honeywell UOP's Process Technology & Equipment business. "This will help meet the growing demand in China for motor oil as well as ultra-low sulfur diesel and jet fuel."
"The number of automobiles in China reached nearly 300 million in 2015 and is forecast to reach 600 million by 2025," said Dave Andrew, vice president of ExxonMobil's Catalysts and Licensing global business. "The rapid growth of new automobiles in China is driving growth in demand for premium lube oil, which underscores the importance of this technology."
Honeywell UOP's Unicracking process and catalysts upgrade heavy fractions of crude oil to produce ultra-clean distillate products – such as diesel and jet fuel – as well as feedstock to make lube oils. The business has been developing and licensing hydroprocessing solutions – including advanced catalysts and specialty equipment – for more than 50 years, with more than 200 units licensed in over 40 countries.
ExxonMobil's MSDW process is the industry-leading technology for selective de-waxing to make high quality base oils, with 30 licensed units in operation or under design. The technology uses proprietary catalysts designed to reduce pour point and achieve very high levels of aromatics saturation to deliver base oils with excellent low temperature properties and long-term stability.
Hainan Handi Sunshine Petrochemical Co., Ltd. was founded in 2006 in China's Hainan Yangpu Economic Development Zone. Its products include general Group II and Group III base oils, insulating oils, industrial-grade white oils, cosmetic white oils and other types of special oil.
About the alliance:
ExxonMobil and Honeywell's UOP have formed a joint marketing and licensing alliance to deliver a comprehensive suite of lube and advanced fuels hydroprocessing and engineering capabilities to companies in the refining sector. The alliance is limited to marketing, licensing, engineering package delivery and providing catalysts for fuels and lubricants improving opportunities for refiners globally.
About Honeywell UOP:
Honeywell UOP (www.uop.com) is a leading international supplier and licensor of process technology, catalysts, adsorbents, equipment, and consulting services to the petroleum refining, petrochemical, and gas processing industries. Honeywell UOP is part of Honeywell's Performance Materials and Technologies strategic business group, which also includes Honeywell Process Solutions (www.honeywellprocess.com), a pioneer in automation control, instrumentation and services for the oil and gas, refining, petrochemical, chemical and other industries.
Honeywell (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes, and industry; turbochargers; and performance materials. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.
Exxon Mobil Corporation, the largest publicly traded international oil and gas company, uses technology and innovation to help meet the world's growing energy needs. ExxonMobil is one of the world's largest integrated refiners and chemical manufacturer, and has extensive engineering and operational experience. ExxonMobil Catalysts and Licensing LLC offers a broad portfolio of downstream and chemical manufacturing technologies and supplies catalysts for some of these processes. To learn more about the catalysts and technologies available for license please visit http://www.catalysts-licensing.com
This release contains certain statements that may be deemed "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.
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