MORRIS PLAINS, N.J.,
Nov. 17, 2021 /PRNewswire/ --
Honeywell (Nasdaq: HON) announced today the expansion of its
facility in Baton Rouge, La. to
double the capacity of its Solstice® ze (1234ze), an
ultra-low-global-warming-potential (GWP) solution. Solstice ze is
used in foam insulation, as a propellant in personal and household
care products, and in refrigeration and air conditioning
applications.
Honeywell will invest significant capital in the facility for
the growth of Solstice ze, which is part of the company's Solstice
line of products based on hydrofluoroolefin (HFO) technology that
helps customers lower their carbon footprint without sacrificing
end-product performance.
The demand for low-GWP solutions continues to grow, and this new
capacity will help meet the needs. Multiple global regulations
stemming from the Kigali Amendment to the Montreal Protocol require
the phasedown of hydrofluorocarbons (HFCs), driving the demand for
sustainable solutions. Honeywell has already invested over
one billion dollars in research,
development and new capacity for its Solstice technology, having
anticipated the need for lower-GWP solutions to combat climate
change more than a decade ago.
"Honeywell is at the forefront for the development and
introduction of next-generation technology, with the
commercialization of Solstice more than a decade ago, and we
continue to invest today to ensure there is ample supply to meet
our customer needs for the market conversion to low-GWP solutions,"
said Laura Reinhard, vice president
and general manager, Honeywell Foam and Industrial Products. "The
expansion of our Baton Rouge
facility—and doubling the capacity of Solstice ze-- will allow us
to bring additional supply to market and continue to deliver
low-GWP products that reduce carbon footprint and meet regulatory
needs."
About half of Honeywell's investment in new product introduction
research and development is directed towards products that improve
environmental and social outcomes for customers, such as Solstice.
This aligns with the company's commitment to become carbon neutral
in its facilities and operations by 2035, building on a track
record to sharply reduce its greenhouse gas intensity as well as
its decades-long history of innovation to help its customers meet
their environmental and social goals. Worldwide adoption of
Solstice products has avoided potential release of more than
250 million metric tons of carbon dioxide into the atmosphere,
equal to eliminating the potential emissions from more than 52
million cars per year.
Honeywell (www.honeywell.com) is a Fortune 100 technology
company that delivers industry-specific solutions that include
aerospace products and services; control technologies for buildings
and industry; and performance materials globally. Our technologies
help aircraft, buildings, manufacturing plants, supply chains, and
workers become more connected to make our world smarter, safer, and
more sustainable. For more news and information on Honeywell,
please visit www.honeywell.com/newsroom.
This release contains certain statements that may be deemed
"forward-looking statements" within the meaning of Section 21E of
the Securities Exchange Act of 1934. All statements, other than
statements of historical fact, that address activities, events or
developments that we or our management intends, expects, projects,
believes or anticipates will or may occur in the future are
forward-looking statements. Such statements are based upon certain
assumptions and assessments made by our management in light of
their experience and their perception of historical trends, current
economic and industry conditions, expected future developments and
other factors they believe to be appropriate. The forward-looking
statements included in this release are also subject to a number of
material risks and uncertainties, including but not limited to
economic, competitive, governmental, and technological factors
affecting our operations, markets, products, services and prices.
Such forward-looking statements are not guarantees of future
performance, and actual results, developments and business
decisions may differ from those envisaged by such forward-looking
statements. We identify the principal risks and uncertainties that
affect our performance in our Form 10-K and other filings with the
Securities and Exchange Commission.
Global media contact:
Tehani
Manochio
(973) 216-0684
tehani.manochio@honeywell.com
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SOURCE Honeywell