Yahoo Finance Honeywell (HON), Redaptive to Reduce Carbon Impact of Buildings
Honeywell International HON is making a strategic investment in Redaptive to bring Energy-as-a-Service (EaaS) capabilities to private sector-owned commercial and industrial buildings. The terms of the investment were kept under wraps.
The investment helps reduce carbon emission across several buildings through the rapid deployment of technologies, designed to lower energy use and improve asset health. As part of the collaboration, Honeywell’s experience in energy saving performance contracting and building control capabilities will be combined with Redaptive's innovative data technology and EaaS platform.
The partnership offers customers with more ways to baseline current energy use and reduce consumption, thus helping them achieve their sustainability goals with little-to-no upfront investment.
Honeywell International Inc. Price
Honeywell International Inc. price | Honeywell International Inc. Quote
The energy-performance-contracting market and associated funding mechanisms allow for energy improvements without upfront customer capital investment by using the energy savings to fund the work.
The collaboration will generate significant energy savings for customers in a capital efficient manner. It also helps accelerate technology deployment to upgrade existing building infrastructure, support capabilities, such as on-site renewable energy assets, and deploy advanced controls software, such as Honeywell Buildings Sustainability Manager.
Zacks Rank & Key Picks
Honeywell currently carries a Zacks Rank #3 (Hold).
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