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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SOURCE Honeywell