ESG Today writes that company officials also revealed its first customer which will take advantage of the new technology, HIF Global.

The aviation industry, which is responsible for 2-3% of the global emissions today, needs SAF, as well as other types of fuels and energy storage solutions to decarbonize. EU officials also pressed on this issue recently, as they demand a minimum SAF share of 70% in EU airports by 2050.

Lucian Boldea, President and CEO of Honeywell Performance Materials and Technologies, said that "Honeywell recognizes that creating technologies that use new feedstocks is vital to long-term decarbonization of the aviation sector. The ability to use readily abundant CO2 to produce SAF is a transformational opportunity for this market."

Honeywell officials explained that, compared to traditional kerosene, their version of SAF can reduce emissions by 88% and furthermore, it can be implemented without a change in infrastructure or plane engines.