United, Honeywell Invest In Alder Fuels Hoping For Jet Fuel Replacement

  • United Airlines Holdings Inc UAL and Honeywell International Inc HON jointly invested multimillion-dollar in Alder Fuels, a cleantech company pioneering technologies for producing sustainable aviation fuel (SAF).
  • The Alder technologies, coupled with Honeywell's Ecofining process, could have the ability to produce a carbon-negative fuel at spec with today's jet fuel. The goal of the technologies is to produce fuel that is a 100% drop-in replacement for petroleum jet fuel.
  • As part of the agreement, United is committing to purchase 1.5 billion gallons of SAF from Alder when produced as per requirement.
  • Honeywell will utilize its process of developing sustainable fuels alongside Alder, applying hydroprocessing design to the process to commercialize the technology jointly. Commercialization is expected by 2025. 
  • Price Action: UAL shares closed higher by 2.31% at $46.58, and HON lower by 0.66% at $222.93 on Thursday.
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