Honeywell Intl Inc - HON STOCK NEWS

Honeywell's refrigerant technology, Solstice^® ze (R-1234ze), is now powering a new cooling system at the Eiffel Tower. This upgrade replaces the older refrigerant R-407C, significantly reducing greenhouse gas emissions with an ultra-low GWP of 1. The installation meets EU regulations and enhances energy efficiency, reliability, and safety. The project aligns with Honeywell's commitment to sustainability and follows their $1 billion investment in low-GWP solutions. This initiative supports ongoing efforts to lower the carbon footprint of this iconic landmark.

Honeywell (NASDAQ: HON) has appointed George Koutsaftes as Chief Operating Officer of its Safety and Productivity Solutions (SPS) segment effective April 1, 2022. He will succeed John Waldron, who takes on a new senior role. Under Waldron's leadership, SPS grew sales from about $5.6 billion to approximately $8 billion since 2017, achieving a compound annual growth rate of 9%. Koutsaftes, previously leading a $3 billion business unit, has a strong record in growth and margin expansion, crucial for sustaining SPS's momentum.

Honeywell (NASDAQ: HON), in collaboration with SES and Hughes, has unveiled a significant advancement in high-speed airborne connectivity for military use through the JetWave MCX terminal. This solution employs SES’ medium earth orbit (MEO) satellites, showcasing robust data capabilities and security features essential for defense operations. During live demonstrations, the system achieved data rates exceeding 40 Mbps, fulfilling the rigorous communication demands of military personnel in challenging environments. The JetWave MCX is now available for immediate deployment.

Honeywell (Nasdaq: HON) has partnered with The University of Texas at Austin to enhance carbon dioxide capture technology, targeting power, steel, and cement industries. This technology utilizes advanced solvents to lower costs and boost efficiency in emissions reduction. Honeywell's existing capacity stands at 40 million tons of CO₂ captured annually. The collaboration aims to support regulatory compliance and sustainability goals, contributing towards carbon neutrality efforts by 2035. With immense market potential, the solution is designed to retrofit existing plants and improve project economics.

Honeywell has announced the acquisition of US Digital Designs, a company specializing in alerting and dispatch communications solutions, for approximately 14X EBITDA in an all-cash deal. The acquisition aims to enhance Honeywell's Fire and Connected Life Safety systems, improving first responders' situational awareness and reducing emergency response times. Honeywell anticipates achieving a return on investment exceeding 25% by the fifth year. The deal is expected to close in Q1 2022, subject to regulatory approvals, and will not affect Honeywell's financial guidance.

Honeywell (Nasdaq: HON) unveiled a new user-friendly monitor designed to alert users to potential risks of airborne virus transmission in indoor environments like schools and restaurants. This portable device tracks carbon dioxide levels and uses a proprietary algorithm based on research from the University of Colorado. It features a risk alerting system, three activity level settings, and is Bluetooth and WiFi-enabled. The monitor aims to enhance indoor air quality, which the CDC states is crucial for reducing disease spread. Honeywell's innovation complements its broader Healthy Buildings solutions.

Honeywell (NASDAQ: HON) achieved a milestone by initiating the first engine test for the T55-GA-714C engine under the U.S. Army's Cooperative Research and Development Agreement. The testing, which began in November 2021, aims to enhance the Chinook helicopter's capabilities with an engine that is 23% more powerful and 8% more fuel-efficient than its predecessor. This development is essential for validating the engine's performance and integration onto the Chinook platform over a two-year period, ultimately supporting the U.S. Army's operational readiness.

Honeywell (NASDAQ: HON) announced the successful business combination of Honeywell Quantum Solutions and Cambridge Quantum, forming Quantinuum, the largest standalone quantum computing company. This new entity will focus on serving various sectors including cybersecurity, drug discovery, and finance, leveraging its advanced quantum hardware and software solutions. With a quantum volume of 1,024, the highest for a commercial quantum computer, Quantinuum aims to expand its market presence in an anticipated $1 trillion industry. Honeywell retains a majority stake and will manufacture critical ion traps used in Quantinuum's technology.

Honeywell (Nasdaq: HON) is set to establish a new advanced R&D testing facility for its Intelligrated warehouse automation segment in Brno, Czech Republic. This 150,000-square-foot site, expected to open in mid-2022, aims to enhance supply chain efficiency by developing innovative technologies for logistics. The facility will support the design, prototyping, and testing of automation systems, catering to logistics companies across Europe. Additionally, a customer training center will be launched, with plans to hire numerous skilled technicians over the next 18 months.