What are Honeywell’s broader objectives in Latin America?

Latin America is a strategic market for Honeywell, and it holds significant potential for the company. We see strong and sustainable opportunities for growth due to the rapid urbanization that is occurring throughout the region and the resulting energy and environmental challenges. In the next four years, we intend to transform ourselves and establish a completely new organization in Latin America, heavily focusing on digital transformation. For example, in March 2019 we announced the expansion of our Research and Development Center in Mexico City, adding a 2,500-square meter floor in Tecnoparque, which will allow us to reach close to 500 engineers.

Honeywell supplies several different industrial verticals. Are there any particular segments of business that are a key focus for the company, especially in regards to sustainability?

Our technologies help everything to be more connected: aircrafts, buildings, manufacturing plants, supply chains and even workers. This enables a safer, more comfortable and more productive world. Particularly in the business I lead, Performance Materials and Technology, we have three key strategies moving forward. In the oil and gas industry, which is primarily managed by our UOP business unit, we are focusing largely on renewables moving forward. UOP is one of the major centers for refinery technology in the world, meaning that of all the technologies available in the marketplace, 80% of those are proprietary to UOP. Nevertheless, as the world moves towards more renewable products, we have developed a unique technology that can convert vegetable and animal oils into a renewable fuel, which we call either "Green Diesel" or "Green Jet Fuel."

We have several unique chemistries in our portfolio that not only provide better solutions for our customers, but also bring specific benefits to the end-user. For example, we developed the first biodegradable detergents, unleaded gas and the catalytic converter. Honeywell Green Diesel and Honeywell Green Jet Fuel require no changes to engines or fuel infrastructure and reduce greenhouse gas emissions by more than two-thirds.

How will the transition towards non-fossil fuels impact mobility in the years to come, and what is Honeywell’s role in this respect?

Honeywell has a role to play in introducing technologies that are not only sustainable from an environmental point of view, but also competitive enough to make that transition faster. History shows that the implementation of new technologies sometimes takes a long time. Hydrotreated Vegetable Oil (HVO) can be derived from both vegetable oil and animal fat. We have converted those oils into a sustainable fuel that is suitable not only for automotive, but also for planes. The ability to use this fuel for an aircraft is an indication of its quality. United Airlines uses our fuel technology, which demonstrates that we have a very competitive and sustainable product to offer to the industry. Honeywell is engaged in further conversations with companies in Latin America that are interested not only in utilizing the fuel domestically, but also to export it to international markets.

What about the introduction of fully electrical vehicles?

Electrical engines are an increasingly common topic, and Honeywell has solutions in this field as well. When companies try to introduce electrical vehicles into the cities, there are also challenges for governments. One of these is the logistical availability of electricity and how to refuel vehicles. In that regard, we have developed our renewable technology to utilize the same logistical routes used to transport fossil fuels. For example, ethanol is a very well positioned product in Brazil's energy market as a renewable fuel for cars. Although this development was driven primarily by truck and bus companies, we have here the opportunity to utilize the same logistics process with a similar price point for end-users, minimizing the total infrastructure investment cost that would be required to change technology.

To conclude the interview, can you share a final message about the vision for Honeywell in the Latin American region moving forward?

Honeywell has maintained a presence in Latin America for more than 80 years, and this is one of the most promising and strategic regions in which the company is expecting to drive its growth for the years to come. We focus on breakthrough ideas to enable growth, and we also need to strengthen relationships and synergies with local players across all our business units so that we can help them to improve their performance and competitiveness in the new ‘Digital Transformation’ landscape.