·         Honeywell’s advanced methanol-to-olefins technology selected for the production process

Mumbai, INDIA, January 15, 2025– Vioneo and Honeywell (NASDAQ: HON) announced today that Honeywell’s technology will be used by Vioneo as part of its plans to produce plastics using green methanol, at a new facility to be built in Antwerp, Belgium. Vioneo will use Honeywell’s advanced methanol-to-olefin (MTO) conversion technology to produce plastics without the need for traditional feedstock made from fossil fuels. 

Honeywell’s advanced MTO technology will enable Vioneo to use green methanol, containing only biogenic carbon dioxide, in place of coal and crude oil in its plastic production processes. This can avoid the high carbon emissions associated with fossil fuel-derived plastic, while still supporting the production of propylene and ethylene – essential components used in various everyday items such as medical equipment, food packaging, automotive parts, personal care products and toys.

“Vioneo aims to help transition the plastics industry by demonstrating that large-scale, cleaner production is economically viable using green methanol as an alternative to fossil fuel. This initiative offers Europe a chance to lead the €5 trillion chemicals and materials sector’s defossilisation movement. Our collaboration with Honeywell

for our Antwerp production facility marks a key step in our plans to support this transition,” said Alex Hogan, chief executive officer, Vioneo. 

Vioneo plans to implement the technology at a new €1.5 billion plant in Antwerp, Belgium. This facility will use green methanol from renewable energy-based hydrogen and biomaterials and will be powered by renewable electricity. This approach aims to significantly reduce greenhouse gas emissions, and supports the energy transition, one of three compelling megatrends to which Honeywell’s portfolio is aligned. 

“Vioneo’s Antwerp plant has the potential to significantly decrease greenhouse gas emissions, and help position Europe as a leader in lower emissions industrial innovation. We are delighted to be a critical technology partner to this initiative,” said Rajesh Gattupalli, president of Honeywell UOP. “Our MTO technology helps support the industry’s commitment to reducing emissions and the European Union’s ambitious climate goals. This technology will play a crucial role in helping transform the production of olefins, helping advance the shift away from plastics made from fossil-derived feedstocks and supporting a path to a net-zero emissions future for the region.”

Vioneo will also deploy Honeywell’s light olefins recovery process (LORP) and olefins cracking process (OCP) to ensure high-purity ethylene and propylene output while capturing and reusing byproducts. This approach minimizes waste, saves energy, reduces costs and maximizes yield.

Planned development of the Antwerp-based plant will proceed in phases, starting with a Front-End Engineering Design (FEED) in the fourth quarter of 2024 and potential Final Investment Decision (FID) in 2025. Commercial operations are anticipated to begin in 2028.

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