Honeywell
Canvas Category OEM : Aerospace
Honeywell International Inc. is an American publicly traded, multinational conglomerate corporation headquartered in Charlotte, North Carolina. It primarily operates in four areas of business: aerospace, building technologies, performance materials and technologies, and safety and productivity solutions.
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Elliott takes more than $5B stake in Honeywell, advises separating automation, aerospace units
Activist investor Elliott Investment Management has taken a more than $5 billion stake in Honeywell International and is calling for the industrial conglomerate to split into two separate companies. In a letter sent to Honeywell’s board, Elliott said that the Charlotte, North Carolina-based company needs to simplify its structure as it deals with uneven execution, inconsistent financial results and an underperforming stock price.
The activist investor believes splitting up the aerospace and automation businesses would result in share-price gains of 51% to 75% over the next two years. Over the past five years, the stock has gained about 7% on an annualized basis, or less than half the S&P 500 return.
Honeywell and Google Cloud to Accelerate Autonomous Operations with AI Agents for the Industrial Sector
Honeywell (NASDAQ: HON) and Google Cloud announced a unique collaboration connecting artificial intelligence (AI) agents with assets, people and processes to accelerate safer, autonomous operations for the industrial sector.
This partnership will bring together the multimodality and natural language capabilities of Gemini on Vertex AI – Google Cloud’s AI platform – and the massive data set on Honeywell Forge, a leading Internet of Things (IoT) platform for industrials. This will unleash easy-to-understand, enterprise-wide insights across a multitude of use cases. Honeywell’s customers across the industrial sector will benefit from opportunities to reduce maintenance costs, increase operational productivity and upskill employees. The first solutions built with Google Cloud AI will be available to Honeywell’s customers in 2025.
Honeywell And Merlin Partner To Enable Autonomy On Wide Variety Of Aircraft
Honeywell (NASDAQ: HON) and Merlin, the leading developer of safe, autonomous flight technology for fixed-wing aircraft, announced the signing of a Memorandum of Understanding (MOU) to bring autonomy to a wide variety of aircraft, including military fleets.
With this partnership, Merlin Pilot, a non-human pilot system, will integrate with Honeywell Anthem’s advanced avionics suite to reduce pilot workloads and enhance operational efficiency for special missions. Honeywell Anthem provides an intuitive user interface and advanced flight management that complements the Merlin Pilot’s advanced automation system, providing a multitude of robust and safe automated flight tasks for various aircraft.
Honeywell and Merlin’s collaboration will initially target fixed-wing military aircraft with the opportunity to expand to other commercial and military aircraft platforms. The partnership will focus on retrofitting existing military aircraft with Merlin’s advanced automation system to enable reduced crew operations, and eventually uncrewed flight. Unlike fully autonomous systems for new aircraft development, this solution enhances current aircraft operations by minimizing the need for multiple pilots, all while maintaining stringent safety standards.
Honeywell and Chevron Collaborate on AI-Assisted Solutions for Refining Processes
Honeywell (NASDAQ: HON) announced a strategic collaboration with Chevron (NYSE: CVX) to develop advanced artificial intelligence (AI)-Assisted solutions to help operators make decisions to enhance efficiency for refining processes and improve safety within the industrial automation space.
Together, the two companies are leveraging their deep domain knowledge and industry expertise to create a new generation of AI-Assisted alarm management solutions that will help operators make decisions to increase the efficiency, safety and reliability of process operations and industrial assets. The new solutions will include an Alarm Guidance application that provides operators with guided and specific actions to effectively respond to alarms and operational events, helping to reduce lost profit opportunities and process safety incidents. Using AI technology, the system will mine historical data on past actions to identify patterns of alarms and the corresponding operator actions that successfully return the process to normal operation.
Mighty Buildings to use Honeywell technology to 3D print homes
Mighty Buildings, a 3D printing construction technology provider, is set to use Honeywell Solstice Liquid Blowing Agent (LBA) as a key component in the material it uses to build 3D printed homes. Honeywell’s low-global warming potential (GWP) technology will replace traditional foam insulation – helping Mighty Buildings reduce emissions and produce strong, energy-efficient building panels. Honeywell offers aerospace, building automation, performance materials and technologies, and safety and productivity solutions, and this collaboration is the alignment of its portfolio to three powerful megatrends, including the energy transition.
The 3D printed panels developed using Solstice LBA will be manufactured at Mighty Buildings’ production facility in Monterrey, Mexico. The facility currently has capacity to print enough panels for two homes per day, and Mighty Building’s total construction time for a 3D printed home is often less than a week. Once complete, these homes require less energy for heating and cooling than those built with other commonly used blowing agents due to Solstice LBA’s ability to provide better thermal insulation.
Honeywell Aerospace Leverages Ansys for Future-Ready Aviation Solutions
Honeywell To Acquire Air Products' Liquefied Natural Gas Process Technology And Equipment Business To Expand Energy Transition Solutions And Services
Honeywell (Nasdaq: HON) and Air Products (NYSE:APD) jointly announced that Honeywell has agreed to acquire Air Products’ liquefied natural gas (LNG) process technology and equipment business for $1.81 billion in an all-cash transaction. This represents approximately 13x estimated 2024 EBITDA.
As a result of the acquisition, Honeywell will be able to offer customers a comprehensive, top-tier solution for managing their energy transformation journey. The new holistic offering will encompass natural gas pre-treatment and state-of-the-art liquefaction, utilizing digital automation technologies unified under the Honeywell Forge and Experion platforms. This full-service solution will enable efficient, reliable and optimized management of natural gas assets, delivering unparalleled value and support.
Honeywell exec reveals plan to deliver $100 million in value with generative AI: “Just getting started”
Jordan did not divulge which specific gen AI application is yielding the most value, but said the company has a range of generative projects that fall into five buckets, and that value is being realized across all of them. She said GitHub and large language models (LLMs) for operations, in particular, have shown early promise.
Honeywell has created a Generative AI Council, made up of representatives of the company’s functional and business departments. Each function and department has a plan for generative AI, and that translates into 24 active programs that have either been deployed or will be deployed over the next couple of months, Jordan said. Jordan is personally tracking the P&L of the projects, and how they are controlled, and works closely with a colleague who is running the Council. Moreover, the CEO holds an all-day staff meeting monthly, and generative AI is an agenda topic every month.
Honeywell Technology To Power The World's First Commercial Scale Liquid Organic Hydrogen Carrier Project
Honeywell announced that ENEOS, a leading energy company in Japan, will develop the world’s first commercial scale Liquid Organic Hydrogen Carrier (LOHC) project using Honeywell’s solution at multiple sites. The LOHC solution enables the long-distance transportation of clean hydrogen and can help meet the growing requirements for hydrogen use across various industries by leveraging existing refining assets and infrastructure. The project supports Honeywell’s alignment of its portfolio to three compelling megatrends in automation, the future of aviation and energy transition.
Honeywell To Drive Distribution Center Efficiency And Enhanced Storage Capacity Through Collaboration With Hai Robotics
Honeywell announced it will team up with Hai Robotics to deliver flexible, high-density storage and retrieval solutions to distribution centers (DCs). The alliance couples Hai’s innovative robotics technology with Honeywell’s Momentum Warehouse Execution Software, enhanced cybersecurity capabilities and experience integrating robotics solutions. Additionally, it supports Honeywell’s portfolio alignment to three compelling megatrends: automation, the future of aviation and energy transition.
Hai Robotics solutions integrate with Honeywell’s Momentum Warehouse Execution Software, enabling DC operators to analyze real-time operating information across a DC and prioritize and redirect work as it is performed by both robotic systems and people, allowing for reduced costs and greater customer service levels.
🔋 Lyten Raises $200M in Series B Equity Round
Lyten, Inc, a pioneer in 3D graphene decarbonizing supermaterials, announced it has raised $200 million as part of its over-subscribed Series B funding round to scale manufacturing and commercialize its first three product lines: Lithium-Sulfur batteries, lightweighted composites, and next generation IoT sensors.
The round is led by Prime Movers Lab, a venture capital firm focused on investments in breakthrough scientific startups and has $1.2B in assets under management. Prime Movers Lab is joined with significant participation from strategic investors and sector leaders Stellantis (previously announced), FedEx Corporation, Honeywell, and Walbridge Aldinger Company. Additional strategic, venture capital and individual investors make up the remainder of the round.
In June, Lyten announced the opening of its first Lithium-Sulfur battery automated pilot plant in San Jose, CA. They are on target to produce commercial cells by year-end 2023 and begin shipping to early adopting customers for revenue in early 2024. The remaining space on the pilot line is expected to be allocated before the end of the year, including allocation to Stellantis and additional auto OEMs for cell testing. Lyten intends to break ground on scaled-up 3D Graphene and Lithium-Sulfur battery manufacturing facilities in 2024 in the US. Lyten targets a fully domestic supply chain to deliver Lithium-Sulfur batteries with greater energy density than lithium-ion but without NMC (nickel, manganese, cobalt) or graphite.
Honeywell And Arbin Instruments Team Up To Revolutionize Large Scale Lithium-Ion Battery Manufacturing
Honeywell today enhanced its Battery Manufacturing Excellence Platform (MXP) for lithium-ion battery manufacturers and gigafactories through a collaboration with Arbin Instruments to integrate an advanced autonomous formation system. This solution addresses battery manufacturers’ need to increase throughput of battery cells while reducing floor space and saving energy costs.
Honeywell to Acquire SCADAfence, Strengthening its Cybersecurity Software Portfolio
Honeywell today announced it has agreed to acquire SCADAfence, a leading provider of operational technology (OT) and Internet of Things (IoT) cybersecurity solutions for monitoring large-scale networks. SCADAfence brings proven capabilities in asset discovery, threat detection and security governance which are key to industrial and buildings management cybersecurity programs.
The SCADAfence product portfolio will integrate into the Honeywell Forge Cybersecurity+ suite within Honeywell Connected Enterprise, Honeywell’s fast-growing software arm with strategic focus on digitalization, sustainability and OT cybersecurity SaaS offerings and solutions. This integration will enable Honeywell to provide an end-to-end enterprise OT cybersecurity solution to site managers, operations management and CISOs seeking enterprise security management and situational awareness. The acquisition strengthens existing capabilities in cybersecurity and bolsters Honeywell’s high-growth OT cybersecurity portfolio, helping customers operate more securely, reliably and efficiently.
Honeywell To Acquire SCADAfence, Strengthening Its Cybersecurity Software Portfolio
Honeywell (Nasdaq: HON) today announced it has agreed to acquire SCADAfence, a leading provider of operational technology (OT) and Internet of Things (IoT) cybersecurity solutions for monitoring large-scale networks. SCADAfence brings proven capabilities in asset discovery, threat detection and security governance which are key to industrial and buildings management cybersecurity programs.
🏢 Honeywell And Arcadis Join Forces To Help Commercial Building Owners Accelerate Their Efforts To Reduce Energy And Carbon Impact
Honeywell (NASDAQ HON) and Arcadis (EURONEXT ARCAD) have today announced a collaboration to provide tools and services that help optimize energy use and carbon emissions in commercial buildings worldwide. With an initial focus on five projects in various locations worldwide, the companies will jointly offer a range of end-to-end solutions to help clients and customers expedite progress toward their carbon-reduction goals.
For Arcadis and Honeywell, this relationship strengthens the efforts that both organizations are making to help clients that are committed to improving outcomes related to ESG. The relationship is not exclusive, and both companies expect to add additional collaborations to enhance their offerings in this space.
Redaptive Closes Next Phase of Series E Funding Round with Further Investment from Linse Capital
Redaptive, a leading provider of Energy-as-a-Service solutions, today announced an additional investment in its series E funding round from long-term investor Linse Capital. This funding represents another significant step towards expanding Redaptive’s offerings and supporting more customers.
This latest investment follows recent contributions to the round made by Canada Pension Plan Investment Board (CPP Investments), Honeywell, CBRE, and others - bringing the total amount raised for this round to approximately $250 million. With this, Redaptive will continue to support enterprise customers with data-driven energy generation and efficiency programs including HVAC, LED lighting, solar, EV, as well as Data Solutions, and other utility upgrades that can be deployed at large sites or across distributed real estate portfolios.
Honeywell to Acquire Compress Controls Corporation, Driving the Energy Transition Through Leading Automation and Control Portfolio
Honeywell (Nasdaq: HON) today announced it has agreed to acquire Compressor Controls Corporation (CCC) from INDICOR, LLC, which is owned by funds affiliated with private equity firm Clayton, Dubilier & Rice, LLC and Roper Technologies, Inc., for $670 million, which represents ~15x 2023E EBITDA on a tax adjusted basis, in an all-cash transaction. CCC is a leading provider of turbomachinery control and optimization solutions, including control hardware, software and services, and primarily serves the LNG, gas processing, refining and petrochemical segments.
Databricks Announces Lakehouse for Manufacturing, Empowering the World's Leading Manufacturers to Realize the Full Value of Their Data
Databricks, the lakehouse company, today announced the Databricks Lakehouse for Manufacturing, the first open, enterprise-scale lakehouse platform tailored to manufacturers that unifies data and AI and delivers record-breaking performance for any analytics use case. The sheer volume of tools, systems and architectures required to run a modern manufacturing environment makes secure data sharing and collaboration a challenge at scale, with over 70 percent of data projects stalling at the proof of concept (PoC) stage. Available today, Databricks’ Lakehouse for Manufacturing breaks down these silos and is uniquely designed for manufacturers to access all of their data and make decisions in real-time. Databricks’ Lakehouse for Manufacturing has been adopted by industry-leading organizations like DuPont, Honeywell, Rolls-Royce, Shell and Tata Steel.
The Lakehouse for Manufacturing includes access to packaged use case accelerators that are designed to jumpstart the analytics process and offer a blueprint to help organizations tackle critical, high-value industry challenges.
Honeywell Collaborates With Borealis
Honeywell announced that Borealis will implement Honeywell’s UniSim Live software as early adopters to build process models for optimizing operations through virtual process simulation. UniSim Live will allow Borealis to extend the utility of process models to near real-time process monitoring and focus on early event detection by using digital twins to improve plant reliability.
Based in Austria, Borealis is a leading international provider of polyolefins, base chemicals, and fertilizers, and also one of the world’s largest producers of polyethylene (PE) and polypropylene (PP). The organization continues to invest in new technology and digitalization tools to improve processing capabilities and efficiencies as part of its Borstar™ program to optimize and transform key operations.
How Honeywell Achieved 7X Faster Lead Times for a Critical Component
Cybersecurity Leaders Launch Operational Technology Cybersecurity Coalition
Today, a diverse group of cybersecurity leaders joined together to launch the Operational Technology Cybersecurity Coalition. Founding members include Claroty, Forescout, Honeywell, Nozomi Networks, and Tenable, each with decades of experience in building, protecting, and defending our nation’s industrial control systems and critical infrastructure assets.
The OT Cyber Coalition advocates for vendor-neutral, interoperable, and standards-based cybersecurity solutions and works collaboratively with industry and government stakeholders on how to best deploy data-sharing solutions that enhance our country’s collective defense. Its efforts support the notion that competitive solutions promote innovation and strengthen our national security.
How Honeywell's CEO is turning the legacy manufacturer into a SaaS player
Cumulatively, it marked a significant step forward in Adamczyk’s vision to turn Honeywell from a legacy industrial manufacturer into a top software provider for sectors like real estate, life sciences and aviation.
“The one common fiber across all our businesses is we are a controls company,” he told Protocol at an event on Tuesday. “When you’re a controls company, you’re connected to everything, you’re connected to all the systems in that building, in that aircraft. We use that data to drive controls, but we could use that data to drive energy savings, to drive efficiency.”
Introducing Microsoft Cloud for Manufacturing
What makes the Microsoft Cloud for Manufacturing unique is our commitment to industry-specific standards and communities, such as the Open Manufacturing Platform, the OPC Foundation, and the Digital Twins Consortium, as well as the co-innovation with our rich ecosystem of partners.