RIYADH, Saudi Arabia, January 26, 2023 — Honeywell (Nasdaq: HON) will showcase digital technologies to support a sustainable energy transition and underscore its commitment to advancing Saudi Arabia’s localization initiatives at this year’s IKTVA Forum, which takes place from January 30 to February 2, 2023 at Dhahran Expo Center.
Aramco’s IKTVA (in Kingdom Total Value Add) program is creating a reliable, world-class supply chain that drives innovation and value creation and supports Saudi Arabia’s vision for economic diversification and job creation.
Sustainability at the core of IKTVA Forum 2023
Honeywell is a leader in ready now sustainability-related innovations, combining this capability with a long legacy in advancing the digital transformation of industrial sectors across the Middle East. Alongside its own target of becoming carbon neutral across its operations and facilities by 2035, Honeywell is helping Saudi Arabia realize its goal of reaching net zero by 2060 through localized technology deployment.
“At IKTVA Forum 2023 we will highlight our commitment to delivering high quality, local careers in line with the Kingdom’s visionary national objectives, and advancing local partnerships to co-create and deploy technologies capable of solving some of the world’s biggest challenges,” commented Mohammed Mohaisen, president and CEO, Honeywell Middle East and North Africa. “The forum is the ideal platform for us to celebrate our 70-year legacy of innovation with Aramco, and to engage with our strategic regional partners on innovation to drive a secure, sustainable energy transition for the world.”
Honeywell is a gold sponsor of this year’s IKTVA Forum, where it will showcase a range of technologies from its stand (DG01) that span sustainability, workforce excellence, digital transformation and localization. These include:
· UpCycle plastics recycling technology which, when used in conjunction with other chemical and mechanical recycling processes, along with improvements to collection and sorting, has the potential to help recycle up to 90% of waste plastics.[i][ii]
· Ecofining™ technology to produce renewable jet fuel and diesel that can be used as a drop-in replacement to petroleum fuel. Fuel produced using Ecofining can offer a greenhouse gas emissions reduction of up to 80% depending on the type of fuel produced and the feedstock used.
· Honeywell Buildings Sustainability Manager powered by Honeywell Forge — a suite of ready now solutions that help building owners and operators meet two pressing, yet often conflicting, objectives – optimizing a building’s indoor air quality while still reducing its environmental impact – with the aim of helping them to support carbon reduction goals.
· Safety Suite Real Time (SSRT) software, which monitors workers’ exposure to gas, changes in vital signs and ambient weather conditions in real time for a comprehensive view of worker safety.
· UniSim Design Suite, which helps process industries improve productivity and profitability throughout an engineering project or plant asset lifecycle. It combines powerful simulation and analysis tools and real-time applications to enable companies to improve operational designs, optimize production and training and enhance decision-making.
Saudi Arabia’s Digital Future
As part of Honeywell’s presence at this year’s forum, Ben Driggs, Honeywell’s president of Global High Growth Regions, will participate in a panel session alongside Aramco senior leadership on ‘Thriving in the Digital Age’ on Tuesday, January 31, at 10:15 a.m at the main congress stage.
Saudi Arabia has adopted several digital strategies and established a framework for digital transformation across its finance, commerce, logistics and information technology sectors. Within its transformation plan, the Kingdom is advancing the use of Artificial Intelligence (AI) to achieve its ambitious Saudi Vision 2030 plans and the Smart Government Strategy objective.
The strategy is expected to set Saudi Arabia’s AI market on course to reach $135.2 billion by 2030, which will contribute an estimated 12.4% to the Kingdom’s gross domestic product and will include the transformation of its workforce.[iii]
At the IKTVA Forum 2023, Honeywell will highlight its portfolio of technologies that support this digital transformation strategy, while enhancing workforce performance and protection. Underscoring this focus, in the last few years Honeywell has signed a series of agreements to support Saudi Arabia’s digitalization journey, including a landmark joint-venture with Aramco to develop digital solutions for end-to-end plant operations.
