Yahoo Finance Honeywell (HON), Arcadis to Lower Carbon Impact of Buildings
Honeywell International HON announced a collaboration with Arcadis to offer building owners end-to-end solutions that would help them reduce energy use and carbon emissions to optimize building performance.
The agreement will initially focus on five international projects, out of which the first is set to launch this month.
For building owners who aim to reduce carbon footprint across their portfolio, the collaboration will offer complementary solutions to help them comply with local regulations and document and report progress to internal and external stakeholders.
Honeywell International Inc. Price
Honeywell International Inc. price | Honeywell International Inc. Quote
As part of the deal, Honeywell and Arcadis will also formulate strategic goals for organizations in case they cannot access asset or device-level energy performance data.
Honeywell Building Technologies president and chief executive officer, Billal Hammoud, said, “By combining our ready-now advanced building controls software with Arcadis' expertise in sustainability assessments and roadmapping, we can develop plans for customers that meet both their short-term need to manage energy use and their long-term aspiration to reduce their carbon footprint."
Lately, Honeywell has been working toward reducing the carbon impact of buildings through various collaborations. In March, the company made a strategic investment in Redaptive to bring Energy-as-a-Service capabilities to private sector-owned commercial and industrial buildings. The agreement is aimed at reducing carbon emissions across several buildings through the rapid deployment of technologies designed to lower energy use and improve asset health.
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Honeywell carries a Zacks Rank #3 (Hold).
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