HONEYWELL COLLABORATES WITH SAF ONE AND TATA PROJECTS TO ENABLE SUSTAINABLE AVIATION FUEL PRODUCTION

Honeywell Collaborates with SAF One and Tata Projects to Enable Sustainable Aviation Fuel Production 

DELHI, India, January 27, 2026 – Honeywell (NASDAQ: HON) today announced that SAF One Energy Management Limited (SAF One) will use Honeywell UOP Ecofining™ process technology to produce sustainable aviation fuel (SAF).

Tata Projects Limited (TPL), the Tata Group’s engineering and construction arm, has been appointed as the engineering, procurement, and construction (EPC) partner for the project. Together, Honeywell and TPL will deliver an integrated solution tailored to SAF One’s project requirements.

Honeywell UOP’s Ecofining process technology, developed in collaboration with Eni S.p.A., offers a capital- and cost-effective solution for processing waste fats, oils and greases into renewable diesel and SAF.

This collaboration marks a significant milestone in SAF One’s plans to develop multiple SAF production units globally, including one in India. Through the deployment of Honeywell UOP’s Ecofining process technology, SAF One will convert used cooking oil (UCO) and other waste oils and fats into SAF, helping the aviation industry reduce lifecycle emissions and advance its decarbonization goals.

Rajesh Gattupalli, President, Honeywell UOP, said: “Our Ecofining process technology broadens the potential feedstock base for SAF and enables producers to adapt to shifting market conditions and resource availability. By leveraging our experience and continuous advancements in process engineering, we aim to make SAF production more economically feasible. The installation of our Ecofining process technology with SAF One and TPL demonstrates our leadership in SAF production and ability to help produce renewable fuels at scale.”

Rajiv Menon, President & COO - Energy & Industrial Business, Tata Projects Limited, said: “Our collaboration with Honeywell and SAF One highlights the value of early engineering integration and disciplined execution in delivering scalable SAF projects. Together, we are enabling solutions that blend technology excellence with constructability and lifecycle efficiency.”

Commenting on this significant milestone, Deepak Munganahalli, cofounder and CEO of SAF One, said: “We are delighted to work with Honeywell and Tata Projects Limited. Their techno-commercial expertise supports SAF One’s ‘design one build many’ approach across our pipeline of SAF projects. This collaboration strengthens our platform and enables us to work with our customers on scalable long-term decarbonization solutions.”

Honeywell and TPL are jointly optimizing the technology configuration to maximize capital expenditure, enhance project timelines, and deliver a solution aligned with SAF One’s global deployment strategy. The companies’ collaboration supports the ambitions of both India and the larger world for climate change mitigation and reinforces Honeywell’s leadership in developing SAF technologies for global markets.

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About Honeywell

Honeywell is an integrated operating company serving a broad range of industries and geographies around the world, with a portfolio that is underpinned by our Honeywell Accelerator operating system and Honeywell Forge platform. As a trusted partner, we help organizations solve the world's toughest, most complex challenges, providing actionable solutions and innovations for aerospace, building automation, industrial automation, process automation, and process technology, that help make the world smarter and safer as well as more secure and sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom

About Tata Projects

Tata Projects is one of India’s most trusted technology-led Engineering, Procurement and Construction (EPC) companies, delivering large and complex infrastructure projects across energy, industrial, urban and transportation sectors. The company has a strong presence in refineries, petrochemicals, green fuels, power generation and transmission, water and waste management, transportation infrastructure, data centres, semiconductor facilities and advanced manufacturing.

Tata Projects focuses on delivering repeatable, scalable, and sustainable infrastructure solutions, combining standardized design philosophies, modular construction techniques, and advanced project execution practices. Its integrated capabilities span the entire project lifecycle, from concept and engineering through construction, commissioning, and operations support-enabling clients to achieve speed, scale, and predictability in project delivery.

Tata Projects is part of the Tata Group, a global enterprise operating in over 150 countries across six continents. In FY 2024–25, Tata Group companies collectively recorded revenues of USD 180 billion and employ over one million people worldwide.

About SAF One Energy Management

SAF One Energy Management Limited is a platform focused on delivering sustainable aviation fuels (SAF) to the global aviation industry. SAF One is co-founded by Novus Aviation Capital Limited (NACL) and Sencirc Holding Limited (SHL). To this partnership, Novus brings nearly 30 years of experience in investing and managing commercial aviation assets in the aviation industry. Sencirc brings decades of experience in the energy industry with domain expertise in developing, building and managing waste to value assets.. Visit http://saf-one.co to find out more.