Honeywell Makes Strategic Tuck-in Acquisition of Li-ion Tamer to Bolster Fire Detection Technologies, Further Strengthening Building Automation Portfolio

Acquisition enhances Honeywell's leading fire life safety portfolio in its Building Automation business, supports high growth energy storage and data center sectors Li-ion Tamer's differentiated technology provides early detection of thermal runaway to help prevent devastating lithium-ion battery fires With more than 30 global patents across its product lines, Li-ion Tamer is trusted by battery OEMs around the world , /PRNewswire/ -- Honeywell (NASDAQ: HON) today announced that it has acquired from Nexceris its Li-ion Tamer business, a leading off-gas detection solution for lithium-ion (li-ion) batteries that detects thermal runaway events. The acquisition enhances Honeywell's portfolio of best-in-class fire life safety technologies within its Building Automation segment and emerged from a partnership with Nexceris over the past 5 years to strategically address lithium-ion battery system safety. The transaction is expected to be immediately accretive to Honeywell's financials. With demand for li-ion batteries expected to grow by over 30% annually through 2030 to greater than $400 billion,1 battery safety solutions are increasingly critical for sectors ranging from renewable energy to cloud computing. Safe monitoring and early detection enable essential steps to avoid or reduce the effects of thermal runaway – without these solutions, an entire system can be lost once a fire begins in an energy storage system. By using early warning technology to detect battery off-gassing, which typically precedes thermal runaway, Li-ion Tamer provides facilities with vital time to intervene before a battery fire starts. With its detection technology that provides a warning up to 30 minutes in advance, Li-ion Tamer is trusted by leading battery OEMs worldwide. "As lithium-ion battery use grows rapidly across data centers, EV infrastructure, and grid-scale energy storage, the risk of fire is increasing in parallel," said Billal Hammoud, President and CEO of Honeywell's Building Automation segment. "Li-ion Tamer's early warning technology has been revolutionary for our customers and partners over the last five years. Building on our legacy partnership, the acquisition of this product suite will position Honeywell as a leader in early gas detection and battery fire prevention. We expect this tuck-in acquisition to further bolster growth of our fire detection business." The Li-ion Tamer product portfolio, which includes more than 30 global patents, will be integrated into Honeywell's Building Automation business, enabling Honeywell to offer a comprehensive suite of fire detection products that complement its existing advanced smoke detection technology and life safety solutions. Currently, this includes VESDA —a leading solution that detects the earlier signs of a potential fire — and Connected Life Safety Services, hosted on the Honeywell Forge IoT Platform that uses data to deliver the connectivity and intelligence needed for secure, compliant and more efficient fire system management. This acquisition follows Honeywell's announcement of the planned spin-offs of its Aerospace Technologies and Solstice Advanced Materials businesses, which will result in three publicly listed industry leaders with distinct strategies and growth drivers. Since December 2023, Honeywell has announced a number of strategic actions to drive organic growth and simplify its portfolio, including $13.5 billion of accretive acquisitions, including the Access Solutions business from Carrier Global, Civitanavi Systems, CAES Systems, the LNG business from Air Products, Sundyne and Johnson Matthey's Catalyst Technologies Business. Honeywell also completed the sale of its Personal Protective Equipment business to Protective Industrial Products last month. About HoneywellHoneywell is an integrated operating company serving a broad range of industries and geographies around the world. Our business is aligned with three powerful megatrends – automation, the future of aviation and energy transition – underpinned by our Honeywell Accelerator operating system and Honeywell Forge IoT platform. As a trusted partner, we help organizations solve the world's toughest, most complex challenges, providing actionable solutions and innovations through our Aerospace Technologies, Industrial Automation, Building Automation and Energy and Sustainability Solutions business segments that help make the world smarter and safer as well as more secure and sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom. We describe many of the trends and other factors that drive our business and future results in this release. Such discussions contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act). Forward-looking statements are those that address activities, events, or developments that management intends, expects, projects, believes, or anticipates will or may occur in the future and include statements related to the proposed spin-off of the Company's Advanced Materials business into a stand-alone, publicly traded company and the proposed separation of Automation and Aerospace. They are based on management's assumptions and assessments in light of past experience and trends, current economic and industry conditions, expected future developments, and other relevant factors, many of which are difficult to predict and outside of our control. They are not guarantees of future performance, and actual results, developments and business decisions may differ significantly from those envisaged by our forward-looking statements. We do not undertake to update or revise any of our forward-looking statements, except as required by applicable securities law. Our forward-looking statements are also subject to material risks and uncertainties, including ongoing macroeconomic and geopolitical risks, such as lower GDP growth or recession, supply chain disruptions, capital markets volatility, inflation, and certain regional conflicts, that can affect our performance in both the near- and long-term. In addition, no assurance can be given that any plan, initiative, projection, goal, commitment, expectation, or prospect set forth in this release can or will be achieved. These forward-looking statements should be considered in light of the information included in this release, our Form 10-K and other filings with the Securities and Exchange Commission. Any forward-looking plans described herein are not final and may be modified or abandoned at any time. SOURCE Honeywell WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

Honeywell Makes Strategic Tuck-in Acquisition of Li-ion Tamer to Bolster Fire Detection Technologies, Further Strengthening Building Automation Portfolio

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