Honeywell UOP technologies to potentially support removal of CO2 for production of clean hydrogen energy in study at Ulsan refinery DES PLAINES, Ill. -- Honeywell announced today SK Innovation and Energy, a Korea-based energy refining company, has selected Honeywell UOP for a feasibility study to retrofit SK’s hydrogen plant with carbon capture. SK will explore capturing and sequestering 400,000 tons of carbon dioxide (CO2) from existing hydrogen production assets at its refinery in Ulsan, Korea using a range of Honeywell UOP technologies. The CO2 will be re-injected into depleted natural gas reservoirs, beginning in 2026. “We selected Honeywell UOP for this feasibility study because of their multiple proven cost-effective technologies for the capture of CO2 and hydrogen purification that will assist in reducing greenhouse gas emissions,” said Dr. Seonjun Lee, head of Institute of Environmental Science & Technology of SK Innovation. “This project falls in line with the carbon neutrality initiative that South Korea has pledged to achieve by 2050.” “With the global demand for hydrogen expected to grow significantly within the next decade, hydrogen producers need a low-cost carbon capture system to help them meet their sustainability goals,” said Ben Owens, vice president and general manager, Honeywell Sustainable Technology Solutions. “Honeywell UOP is uniquely positioned for this feasibility study as our multiple technology offerings for carbon capture based on solvents, membranes, cryogenics, and pressure swing adsorption (PSA) systems can be optimized to meet the project needs.” As one of the leading refineries in Korea, SK Energy (www.skenergy.com) produces various petroleum products at the Ulsan Complex, which can refine 840,000 barrels of crude oil per day, and sells them in both domestic and overseas markets. SK Innovation, a SK Group’s intermediate holding company in field of energy, petrochemical, e-mobility battery, information electronic materials businesses, operates EV battery and E&P along with 6 major subsidiaries including SK Energy, SK geo centric, SK Lubricants, SK Incheon Petrochem, SK Trading International and SK IE Technology. Honeywell UOP (www.uop.com) is a leading international supplier and licensor of process technology, catalysts, adsorbents, equipment, and consulting services to the petroleum refining, petrochemical, and gas processing industries. Honeywell UOP is part of Honeywell’s Performance Materials and Technologies strategic business group, which also includes Honeywell Process Solutions (www.honeywellprocess.com), a pioneer in automation control, instrumentation and services for the oil and gas, refining, petrochemical, chemical and other industries. Honeywell recently committed to achieve carbon neutrality in its operations and facilities by 2035. This commitment builds on the company’s track record of sharply reducing the greenhouse gas intensity of its operations and facilities as well as its decades-long history of innovation to help its customers meet their environmental and social goals. About half of Honeywell’s new product introduction research and development investment is directed toward products that improve environmental and social outcomes for customers. Honeywell (www.honeywell.com) is a Fortune 100 technology company that delivers industry-specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.

SK Innovation to Use Honeywell Technology for Carbon Capture and Sequestration Feasibility Study for Production of Clean Hydrogen Energy in Korea