Honeywell International, Inc. - HON STOCK NEWS

The Honeywell Industrial USB Threat Report, published on June 22, 2021, reveals a significant rise in USB-based threats impacting business operations. Threats using removable media surged to 37%, nearly doubling from 19% in 2020. Furthermore, 79% of cyber threats linked to USB devices could lead to critical disruptions in operational technology. With a 30% increase in USB device usage in production facilities, organizations are urged to adopt robust cybersecurity measures, including Honeywell's Secure Media Exchange (SMX) technology, to safeguard against these evolving risks.

Honeywell (Nasdaq: HON) has introduced the HALO Operator Advisor, enhancing its Experion suite. This software leverages machine learning to evaluate operator performance across various industries, including oil, gas, and chemicals. By utilizing analytics from enterprise data, it enables managers to identify performance gaps and implement training programs. Projected benefits include a 75% reduction in incidents, annual savings of $1.5 million per plant from optimized worker performance, and a $2 million decrease in operational costs. The solution is set to launch in October 2021.

Honeywell (Nasdaq: HON) unveiled its new Battery Energy Storage System (BESS) Platform on June 21, 2021, designed to enhance energy management for commercial, industrial, and utility sectors. This platform integrates advanced asset monitoring and analytics, enabling users to optimize energy use and improve grid stability. Backed by performance guarantees, it aims to reduce reliance on non-renewable energy sources, thus lowering operational costs and carbon emissions. The BESS Platform not only aids in energy arbitrage and demand management but also supports diverse pilot projects across various sites.

Honeywell (NASDAQ: HON) announced a partnership with the Defence Research Development Organisation (DRDO) and the Council of Scientific and Industrial Research–Indian Institute of Petroleum (CSIR–IIP) to supply molecular sieve adsorbents for establishing Medical Oxygen Plants (MOP) in India. This initiative aims to enhance medical oxygen production amid rising demand due to the ongoing pandemic. Honeywell UOP will provide timely supplies and collaborate on optimizing costs and efficiency.

Honeywell (NASDAQ: HON) has been chosen by Lilium to develop avionics and flight control systems for the all-electric 7-Seater Lilium Jet. The compact fly-by-wire system will manage 36 control surfaces, enhancing maneuverability. Honeywell's expertise in urban air mobility ensures safety and comfort for passengers. Their avionics system aims to simplify operations for single-pilot usage, increasing passenger capacity. Furthermore, Honeywell is participating in Lilium's PIPE offering related to its SPAC transaction, showcasing its commitment to this innovative transport solution.

Honeywell (NASDAQ: HON) announced the launch of its Advanced Monitoring and Incident Response (AMIR) service on June 9, 2021. This 24/7 operational technology cybersecurity service aims to enhance detection and rapid response to cyber threats targeting industrial control systems. AMIR is designed for IT and OT security teams, particularly those facing expertise or budget challenges. It leverages advanced software and expert guidance to analyze cybersecurity threats, with ongoing deployment at multiple global sites to bolster cybersecurity maturity.

Honeywell (NASDAQ: HON) announced a merger between Honeywell Quantum Solutions (HQS) and Cambridge Quantum Computing (CQC), creating the largest standalone quantum computing company. This new entity aims to capitalize on a projected $1 trillion industry over the next three decades. Honeywell will maintain a majority stake and invest $270-$300 million to develop the world's highest-performing quantum systems. The merger is expected to finalize in Q3 2021, pending regulatory approvals. No change to Honeywell's 2021 financial outlook is anticipated.

Honeywell (NASDAQ: HON) has launched JetWave MCX, a new broadband satcom solution tailored for military and governmental aircraft. This offering enhances the existing JetWave product line, providing improved situational awareness, secure communications, and connectivity to various Ka-band networks. The JetWave MCX is designed for missions such as surveillance and humanitarian efforts. Over 2,000 JetWave systems are already in use across different sectors, indicating strong demand and adoption in defense applications.