WEBVTT 00:00:00.019 --> 00:00:05.070 When you eat french fries, are you helping to save the planet? All right, a little bit of a 00:00:05.078 --> 00:00:11.009 stretch. But follow me here, the oil that is used to make french fries is becoming 00:00:11.019 --> 00:00:16.908 sustainable. Aviation fuel that can help you fly around the world in a much more eco 00:00:16.929 --> 00:00:23.658 friendly way. And that is just the beginning of the future of aviation fuel. I learned about 00:00:23.670 --> 00:00:30.559 it from Lee Abrams at Honeywell Lee. What 00:00:30.568 --> 00:00:36.270 is sustainable jet fuel? And why is this an important thing to talk about? So sustainable 00:00:36.279 --> 00:00:42.509 jet fuel is a fuel that looks pretty much like the Jett fuel we use today. The big difference 00:00:42.520 --> 00:00:48.069 is what it's made from. So instead of making this from fossil sources of energy, we're now 00:00:48.079 --> 00:00:54.929 taking things like waste oils, say used French fried oil or crop 00:00:54.939 --> 00:01:01.740 oils, things like soybean and corn oil and converting them into fuels that look and 00:01:01.750 --> 00:01:06.269 perform like the fuels that we're used to using every day. And this is important, I 00:01:06.278 --> 00:01:12.409 imagine because air travel is a big consumer of fuel. And so if we can solve that problem, 00:01:12.418 --> 00:01:17.088 we're making some real headway in creating a more sustainable future. Is that right? That's 00:01:17.099 --> 00:01:23.528 right. I think uh aviation today is accountable for about 3.5% of global greenhouse 00:01:23.540 --> 00:01:30.329 gas emissions. So there's absolutely a big part for aviation to play in reducing those 00:01:30.338 --> 00:01:34.558 emissions through things like the use of sustainable aviation fuel. I've read that 00:01:34.569 --> 00:01:41.418 sustainable aviation fuel is really hard to make. Why is that? It is um hard in some 00:01:41.430 --> 00:01:45.629 cases to find the right feed stocks to make it from, right? Because you want these to be 00:01:45.638 --> 00:01:51.040 things that aren't going to lead to deforestation, land degradation, you want them 00:01:51.049 --> 00:01:57.430 to truly be sustainable feed stocks. So once you find those the process to turn them 00:01:57.439 --> 00:02:03.370 into a fuel, it's actually a lot of the things that we as Honeywell, a technology developer 00:02:03.379 --> 00:02:09.338 already know how to do. We know how to take the oxygen out of things like that used French 00:02:09.349 --> 00:02:15.580 fry oil and make it into a fuel that performs much better in an engine. If I get on a 00:02:15.588 --> 00:02:22.050 plane today, what are the chances that the fuel that is in that plane is sustainable if 00:02:22.058 --> 00:02:28.558 you are flying out of lax? Uh The chances are pretty good. One of our 00:02:28.569 --> 00:02:34.199 first customers um who's using our technology to make sustainable aviation fuel today is 00:02:34.210 --> 00:02:40.159 world energy and they supply LAX with that sustainable aviation fuel. Beyond 00:02:40.689 --> 00:02:47.618 uh a select number of airports in the US and Europe, there's not a whole lot in use today. 00:02:47.629 --> 00:02:52.599 And so that's something that we're really all trying to work to change. So why is that? 00:02:52.610 --> 00:02:57.449 Because what you're telling me is really exciting, the technology exists, the know how 00:02:57.460 --> 00:03:03.740 exists. So why isn't this everywhere yet? First of all, I think it's the uh incentives 00:03:03.750 --> 00:03:09.719 and kind of motivations of different folks to really start adopting sustainable 00:03:09.792 --> 00:03:15.901 technologies. The good news I think is that while this technology takes a little bit of 00:03:15.912 --> 00:03:20.842 time to, you know, develop a design and to actually build those plants and get them 00:03:20.852 --> 00:03:26.893 operating. There are already dozens of facilities in the planning and construction 00:03:26.901 --> 00:03:31.842 stages today. So you're going to see a lot more sustainable aviation fuel become available 00:03:31.852 --> 00:03:37.923 in the next several years. But you also see governments really trying to uh stand up this 00:03:37.931 --> 00:03:44.305 industry as well in the US. The Inflation Reduction Act has done a lot to really enable 00:03:44.314 --> 00:03:51.246 this uh to continue to grow. One of the ways that it's done that is through a specific 00:03:51.254 --> 00:03:57.944 credit that is for every gallon of sustainable aviation fuel produced in Europe instead of 00:03:57.955 --> 00:04:04.545 using credits they tend to use uh mandates and there are mandates starting in 2025 even 00:04:04.645 --> 00:04:11.338 for the use of sustainable aviation fuel in the eu. Um in 2030 that starts to include 00:04:11.659 --> 00:04:18.379 uh regulations for EU or fuel that is made from CO2 and renewable energy 00:04:18.509 --> 00:04:25.410 Lee. Can you just help me imagine how the French fry oil at the local 00:04:25.420 --> 00:04:31.500 fast food place? Actually travels somewhere and then becomes the fuel that gets me from New 00:04:31.509 --> 00:04:37.528 York to L A. How is that happening? So we have a technology that converts that French fry oil 00:04:37.588 --> 00:04:44.369 into a, a blending component that you would then typically blend with 00:04:44.379 --> 00:04:50.488 some fossil jet. Um That's because of the current regulatory environment and then that 00:04:50.500 --> 00:04:56.019 goes directly to an airport and gets uplifted into a plane. It's really not that many steps. 00:04:56.199 --> 00:05:00.588 Now, if you look at a different feedstock, for example, if you look at our uh recently 00:05:00.600 --> 00:05:07.350 announced ef finding technology, that's one that goes directly from CO2 to 00:05:07.358 --> 00:05:13.889 jet fuel um enabled by our Methanol to jet technology. So you may have a couple of steps 00:05:13.899 --> 00:05:20.420 there where you first of all have a facility that converts Co2 into Methanol. Methanol is 00:05:20.428 --> 00:05:24.790 great because you can ship it anywhere. And that means that when you're converting that Co2 00:05:24.798 --> 00:05:31.689 into Methanol, you can use renewable energy, that is really the lowest cost, most 00:05:31.699 --> 00:05:36.778 efficient renewable energy that you can find out there. And then once you have Methanol, 00:05:36.875 --> 00:05:41.514 which is a an intermediate that's easily shipped and transported, that we have supply 00:05:41.526 --> 00:05:47.295 chains for already, then that can be converted into sustainable aviation fuel, which has 00:05:47.305 --> 00:05:52.526 higher value overall. Are, are there any projections for what the future looks like here? 00:05:52.536 --> 00:05:58.204 How quickly this gets adopted and how much it can save in fossil fuel when we start looking 00:05:58.216 --> 00:06:02.170 at, how do we develop a better technology. We're thinking about efficiency. We're thinking 00:06:02.182 --> 00:06:07.401 about how much energy does it use to make the fuel? How much fuel can we make out of a given 00:06:07.411 --> 00:06:12.752 feed stock? The more fuel that you can make with the less energy, the better it is overall, 00:06:12.992 --> 00:06:18.730 our eco finding technology, for example, that's the one that converts French fry oil is 00:06:18.742 --> 00:06:24.872 something that can give you a 65 to 80% reduction in carbon intensity versus 00:06:24.880 --> 00:06:30.548 conventional jet fuel. And that's something that you can use in the existing infrastructure 00:06:30.559 --> 00:06:35.988 for fueling and flying today. You don't need a new type of airplane. So that's really 00:06:36.000 --> 00:06:41.829 important as well because it means it costs less overall to be more sustainable. That's 00:06:41.838 --> 00:06:45.338 pretty incredible. Can I just double click on that for a second to make sure I understand. So 00:06:45.350 --> 00:06:50.569 when you're saying that you don't need any kind of new infrastructure, you're saying that 00:06:50.750 --> 00:06:57.028 this fuel can just feed directly into the existing planes and engines that we already 00:06:57.040 --> 00:07:02.730 have. That's right now, there are some guidelines, um of course, for how to do that 00:07:02.738 --> 00:07:07.160 and how to, how to do that safely. And it depends on the feedstock that you're making the 00:07:07.170 --> 00:07:13.980 fuel from and the properties of that. But there's an organization that kind of regulates 00:07:13.988 --> 00:07:20.920 those fuels and makes sure that they look and feel and mix well with existing uh petroleum 00:07:21.009 --> 00:07:25.540 jet fuel lee, I think that this subject is gonna sound really exciting to a lot of 00:07:25.548 --> 00:07:31.879 entrepreneurs who of course, are thrilled by the idea that their air travel is gonna become 00:07:31.889 --> 00:07:38.079 more sustainable. But you know, most of us don't own private jets. So we aren't really in 00:07:38.088 --> 00:07:44.119 the position to be purchasing sustainable jet fuel. So how can entrepreneurs feel like they 00:07:44.129 --> 00:07:50.100 have some control or ability to contribute to this movement? So there are various airlines 00:07:50.108 --> 00:07:55.548 who are developing mechanisms for their passengers to be able to select the type of 00:07:55.559 --> 00:08:02.139 fuel they want to fly on DH L and fedex, I believe have committed to uh 30% 00:08:02.439 --> 00:08:09.059 of their transport by 2030 will be on staff. And that's a pretty substantial 00:08:09.069 --> 00:08:15.019 commitment in terms of really enabling this industry to mature. Well, Lee, thank you for 00:08:15.028 --> 00:08:20.988 the work that you and the Honeywell team are doing to help make aviation travel more 00:08:21.000 --> 00:08:27.298 sustainable. And I really love the idea that my next French fry could be bathed in oil that 00:08:27.309 --> 00:08:30.319 helps me get across the country. Thank you very much for having me.