Honeywell Licenses Green Diesel Technology To Emerald Biofuels
Honeywell’s Green Diesel is produced from non-edible, second generation oils and fats. It can be dropped into any diesel fuel tank without any modifications to the fuel system or the engine.
While 85 million gallons of fuel is barely a drop in the bucket of the overall fuel needs of the U.S., it’s a lot more than one-time Bay Area biofuel contenders Solazyme (SZYM :NASDAQ) and Amyris (AMYS :NASDAQ) are currently producing.
Solazyme is producing fuel as their Q1 2012 revenues were almost double that of the same quarter in the previous year. $13.6 million in revenues isn’t exactly inspiring for investors but that should change as Solazyme announced a joint venture with Bunge to produce 100,000 metric tons of renewable oil in Brazil.
There is hope for Amyris as they are working with Ceres (CERE :NASDAQ) to successfully refine their sweet sorghum hybrids into renewable diesel fuel.
And both Solazyme and Amyris are working with Volkswagen to test their renewable diesels on the 2012 Passat TDI and 2012 Jetta TDI. The year-long testing will analyze each of the fuels’ and they affect each of the vehicles.
But right now, Honeywell appears to be the new king of the biofuel block with their 85 million gallons of renewable diesel.
Shares of Honeywell were down 0.25 percent.