Posted: Dec 10, 2013 12:17 PM
Updated: Dec 10, 2013 6:50 PM
Source: Associated Press
GEISMAR - Honeywell will build a new auto-refrigerant plant in Geismar.
The plant is part of $300 million the company is investing to increase production of a new refrigerant for automobiles.
The company says the new product's global-warming potential is 99.9 percent lower than that of the current refrigerant in use, and even lower than carbon dioxide.
"The technology is going to be reducing greenhouse gases with a 99.9 percent reduction, compared to the current type of refrigerant, so I think that's world changing kind of stuff," said Chris Loar, Ascension Parish Council Chairman.
The expansion comes on the heels of a major pull out by Shell, but Parish President Tommy Martinez knows it's not the end of the road for Ascension.
"We're not gonna win them all, but we're gonna win some and there's some big ones on the books, not in the magnitude of 10.5 billion, but we've got a couple of them that's going to be in the billions," said Martinez.
The new Geismar plant is expected to begin operating in 2016. How big the plant will be depends on supply agreements with Honeywell's major customers.