Boeing Company (BA) along with the Masdar Institute of Science and Technology, Etihad Airways and Honeywell International Inc.’s (HON) subsidiary UOP LLC will establish a research institute and demonstration project in Abu Dhabi dedicated to sustainable energy solutions. The Sustainable Bioenergy Research Project (SBRP) will use integrated saltwater agricultural systems to support the development and commercialization of bio-fuel sources for aviation and co-products.

SBRP will undertake research projects that combine the arid, saline-rich environment of Abu Dhabi with innovative saltwater farming practices. The Masdar Institute will host the SBRP and provide laboratory and demonstration facilities both within and outside Masdar City, which aims to be the world’s first zero-carbon city.

The institute will use saltwater to create an aquaculture-based seafood farming system parallel to the growth of mangrove forests and salicornia, a plant that thrives in saline conditions. Sustainable bio-fuel development is a key element of Boeing’s aviation business growth strategy by reducing carbon emissions.

Headquartered in Chicago, Boeing is the world’s largest manufacturer of commercial jet liners and military aerospace products (based on total sales). Boeing designs and produces commercial airplanes, defense systems, and civil and defense space systems. It is also the largest NASA contractor. Non-airplane products include helicopters, electronic and defense systems, missiles, satellites, rocket engines, launch vehicles, and advanced information and communication systems.

Boeing is slated to release its fiscal 2009 numbers on January 27, 2010. The company expects its fiscal 2009 revenue in the range of $68 billion – $69 billion and operating cash flow to be approximately $2.5 billion. Boeing expects its earning per share for fiscal 2009 in the range of $1.35 – $1.55, in line with the Zacks Consensus Estimate of $1.45 for the fiscal 2009.

Zacks Investment Research

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