SHANGHAI, May 24, 2017 /PRNewswire/ -- Honeywell (NYSE: HON) UOP today signed a partnership agreement with China's Wison Engineering Ltd. to jointly provide methanol-to-olefin (MTO) technologies and engineering, procurement and construction (EPC) services to customers outside of China.
Honeywell UOP's Advanced MTO technology converts methanol from coal or natural gas into the olefins that form the basis for many types of plastic resins, films and fibers. It is a rapidly growing technology in regions rich in coal or natural gas but poor in crude oil, and that have high demand for plastics.
As one of the leading chemical EPC service providers in China, Wison Engineering is developing opportunities for the MTO technology, particularly in countries included in China's Belt and Road Initiative, covering the historic trading route that stretches from China, through central Asia to Western Europe.
The agreement combines Honeywell UOP's advanced process technologies with Wison's strong EPC service capability, allowing them to help customers further improve olefin production capacity while reducing energy consumption and production costs.
"The Belt and Road initiative promises to raise the level of connectivity, cooperation and trade between dozens of nations that have traded with China for thousands of years," said Rebecca Liebert, president and CEO of Honeywell UOP. "Honeywell is working with China's leading enterprises to bring economic development to these countries through its broad clean energy and chemicals technologies."
"We are excited to work with Honeywell UOP to bring the Advanced MTO technology to customers in countries that traditionally have traded with China for centuries," said Li Yansheng, Chief Engineer of Wison Engineering. "MTO is an innovative technology that enables coal- and gas-rich regions in Russia, Central Asia, the Middle East, Southeast Asia, and as far as Europe and Africa, to make plastics from their own coal and natural gas.
"We have a long history of cooperation with Honeywell and the close cooperation between Wison Engineering and Honeywell UOP on overseas offerings is an important milestone," he added. "Together we can provide our customers with the best-in-class MTO technologies and project counsel."
Ethylene and propylene, the two most widely used components to make plastics in the world, have been traditionally derived from crude oil. Global demand for ethylene and propylene is growing 4 to 5 percent per year, with growth driven by strong demand for plastics and other chemicals. MTO technology allows countries and regions that are rich in coal or natural gas to cost-effectively and efficiently convert these resources into valuable petrochemicals with high yield, at the lowest cost of production and lowest catalyst consumption.
Since 2011, Honeywell UOP has announced nine licenses for MTO technology in China. Wison was the first manufacturer that licensed Honeywell UOP Advanced MTO technology, and it has been the EPC for seven of the UOP Advanced MTO units in China, and the licensor for the olefins recovery section of these MTO units.
Honeywell UOP's Advanced MTO process converts methanol from coal and natural gas into ethylene and propylene. At the heart of the technology are UOP's proprietary catalysts, which make it possible to efficiently adjust the ratio of propylene and ethylene produced, so operators can most effectively meet demand for those products. In addition, the Advanced MTO process offers the lowest operating cost, quick and efficient start-up and operational reliability.
Wison Engineering Limited is a member of the Wison Group. The company stands as one of leading chemical engineering, procurement and construction management (EPC) service providers in China. From project consultation and planning to the design, procurement and construction phases, as well as the start-up and operational services, Wison Engineering provides comprehensive solutions for domestic and foreign clients.
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 software-industrial company that delivers industry specific solutions that include aerospace and automotive products and services; control technologies for buildings, homes, and industry; and performance materials globally. Our technologies help everything from aircraft, cars, homes and buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.
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