Honeywell China Inaugurates Sustainability Research Institute Low Carbon Center

Shanghai, August 18, 2021----Honeywell (Nasdaq: HON) announced the establishment of Honeywell China Sustainability Research Institute Low Carbon Center. The Center will focus on researching low-carbon technology and market demand, leveraging Honeywell's innovative products and technologies to promote the development and implementation of low-carbon solutions in China market. The Center will also help its Chinese customers achieve sustainable development, as well as facilitating China’s efforts to peak emissions before 2030 and achieve carbon neutrality before 2060.

The Low Carbon Center will closely monitor current market development, actively explore cutting-edge trends to regularly publish white papers and research reports on advanced low-carbon technologies, products, and services. At the inauguration ceremony, Honeywell pointed out that the Center will focus on six major technical fields: new energy, renewable resources and material recycling, technologies to improve efficiency of carbon-hydrogen conversion and reduce energy consumption, carbon capture, utilization and storage (CCUS), reduction of non-carbon dioxide greenhouse gases, and green hydrogen application.

"The launch of the Low Carbon Center is not only driven by global climate governance and China's dual carbon goals, but also a strong manifestation of Honeywell's continuous increase investment in environmental, social and corporate governance (ESG)," said Henry Liu, vice president and general manager of Honeywell Performance Materials and Technologies (PMT) for Asia Pacific. "We will strive to build the Center into a platform for collaboration and cooperation in the low-carbon field between Honeywell and governmental departments, enterprises, research institutions, industry organizations, universities and other related stakeholders in China. The Center will work with multiple parties to jointly promote low-carbon transformation of industrial chain and develop a circular economy."

Honeywell and Wison Engineering (China) Co., LTD., affiliated to Wison Group, signed a memorandum of understanding on the application and engineering of low carbon emission technologies, covering the application of hydrogen in petrochemical industry, renewable energy, and biomass energy production and utilization. The parties will also explore and collaborate on localized process design, market opportunities, and the development and application of new business models.  The two sides hope to leverage Honeywell's low-carbon technologies, equipment, services, and business experience in the Chinese market to help customers achieve sustainable growth.

"We are pleased to have a strategic partnership with Honeywell in low-carbon technology application and engineering, to comply with the global carbon emission reduction trend and promote the application of low-carbon technology in China," said Liu Hongjun, chairman of Wison Engineering.  "I look forward to leveraging our respective strengths to support our customers' sustainable development and China's 'double carbon' goal."

Honeywell has rich experience and unique advantages in sustainable development, as well as energy conservation and emission reduction. About half of Honeywell’s new product introduction research and development investment is directed toward products that improve environmental and social outcomes for customers. Take PMT as an example, its high-tech products and solutions such as Solstice^® low global-warming potential (GWP) solutions, UOP "Refinery of the Future", RDA technology, battery energy storage technology, Callidus burner technology and CCUS technology can effectively help customers reduce energy consumption and cost while improving production efficiency.

"One of the missions of the Low Carbon Center is to introduce Honeywell's worldwide advanced low-carbon technology to serve China market and boost indigenous research and development of low-carbon solutions that meet the needs of local customers," said Dr. Zhou Lubo, chief technology officer of PMT APAC and director of Honeywell China Sustainability Research Institute. “We firmly believe that only technological innovation can truly solves the pain points of customers and industry. Therefore, we look forward to building the Low Carbon Center into a think tank that integrates forward-looking insights and pragmatic solutions."

Honeywell China Sustainability Research Institute, established in 2018 and formerly known as the Honeywell China Environmental Protection Research Institute, is affiliated to Honeywell Performance Materials and Technologies. The upgraded research institute boasts PMT’s innovative strength and experts from various fields such as research and development, technology, marketing, and product development.

Honeywell has always been committed to improving its own environmental and sustainable development performance, as well as helping customers achieve sustainable development goals through product innovation. As a high-tech digital industrial company, Honeywell is deeply aware of its important responsibilities in low-carbon transformation of the industry. In April 2021, Honeywell announced its commitment to achieve the carbon neutrality goal for all business operations and facilities by 2035, which is in line with China's carbon emission reduction goals and sustainable development direction.

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 everything from 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.