General Category: Investments
New Delhi, June 12, 2016: India and the United States (US) are strategic partners. On his three-day visit to the US, Indian Prime Minister (PM) Narendra Modi met with President Barack Obama at the White House on June 7. Bilateral talks between the two leaders coalesced in a joint statement, laying out a road map for broad-ranging India-US collaboration in areas such as defense, trade, cyber security and clean energy.

Especially on the latter, both leaders have vowed to early ratification of the Paris Climate Agreement and have committed to work toward a global agreement to cut heat-trapping climate pollutants known as hydrofluorocarbons (HFCs) under the Montreal Protocol this year. In a press statement, the White House has stated that the two countries have resolved to collaborate in adopting an HFC amendment with increased financial support from donor countries to the Multilateral Fund to help developing countries with implementation – and an ambitious phasedown schedule – under the Montreal Protocol, pursuant to the Dubai Pathway.

The following is Honeywell’s (NYSE: HON) response to the joint announcement from President Obama and PM Modi regarding global HFC phasedown in accordance with the proposed amendment.

"Honeywell fully supports the US and India's commitment to a global HFC phasedown. Honeywell has formed commercial partnerships with Indian firms to Make in India and adopt our broad portfolio of reduced- and low-global-warming-potential (LGWP) solutions that are available today to accelerate the transition away from HFCs and other high-GWP materials. We are continually innovating to produce next-generation, environmentally preferable alternatives to help countries achieve aggressive goals to reduce greenhouse gas emissions."

- Ken Gayer, Vice President and General Manager of Honeywell Fluorine Products

Honeywell in India – at the forefront of HFC phasedown

Honeywell is aligned with and has a significant Make in India footprint with seven manufacturing facilities in Chennai, Dehradun, Gurgaon, Pune and Vadodara, and five technology and engineering centers in Bangalore, Gurgaon, Hyderabad and Madurai. Honeywell India employs close to 15,000 people to deliver innovative technologies that help customers improve energy efficiency, safety, security, and productivity – all of which are key imperatives for India. Honeywell and its employees are creating solutions and technologies in India, for India, and for the rest of the world.

Recently, Honeywell entered into a supply agreement and technology license with Navin Fluorine International Ltd (NFIL) to produce Honeywell Solstice® yf, an automobile refrigerant with a global warming potential (GWP) of less than 1.

More than 8 million cars on the road today safely use Solstice yf. That number is expected to grow to more than 18 million cars by the end of 2016. Solstice yf, also known as HFO-1234yf, is a next-generation hydrofluoro-olefin (HFO) refrigerant that is a near drop-in replacement for R-134a, an HFC with a GWP of 1,300! Solstice yf is also being used in a growing number of stationary air conditioning and commercial refrigeration applications. Solstice yf is part of a family of stationary, commercial and mobile refrigerants, liquid and gaseous blowing agents, solvents and propellants based on Honeywell’s HFO technology, which helps customers lower their carbon footprint without sacrificing end-product performance. Honeywell and its suppliers are in the middle of a $900 million investment program in R&D and new capacity to produce next-generation refrigerants, insulation materials, aerosols and solvents, which have global warming potentials equal to or better than carbon dioxide and at least 99 percent lower than most technologies used today.

Corporate Comm India (CCI Newswire)
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