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HONEYWELL INTERNATIONAL INC.

(HON)
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Honeywell International : Cambrian College Works With Honeywell To Continue Its Campus Sustainability Efforts; College upgrades building technology to create a safer environment for students and staff

10/15/2021 | 11:12am EST

ATLANTA and ONTARIO - Cambrian College, the leading post-secondary institution in Northern Ontario, and Honeywell (Nasdaq: HON) announced the next phase of a comprehensive performance contract project designed to reduce carbon emissions and utility costs and provide a safer experience for staff and students.

The improvements, implemented through an Energy Savings Performance Contract (ESPC), are projected to support the college's sustainability commitment by replacing aging equipment and updating lighting. The work is projected to save the college at least $480,000 within the first year. The energy and operational savings achieved by the new measures are guaranteed by Honeywell and will help self-fund the project.

'A leading mission of Cambrian College is our commitment to reduce our carbon impact,' said Kristine Morrisey, vice president International, Finance and Administration, Cambrian College. 'This project will allow us to do just that. We anticipate the project will reduce approximately 300 tons of greenhouse gasses a year, which is the equivalent of removing close to 100 medium-size cars from the road every year. In addition, the project is supporting the modernization of our campus, in both its digital and physical space, which ultimately will provide our students and faculty an improved education environment.'

Honeywell first began work with Cambrian College in 2011 and the next project phase includes:

Geothermal heating solution: Implementing an energy-efficient geoexchange system to provide supplemental heating and cooling sourced from the earth to create a better heat transfer medium than traditional air source systems. It will help offset boiler consumption in Cambrian's Sustainable Energy Centre building's water source heat pump lamp.

Upgraded LED lighting: Installing new smart interior lighting to understand space usage. In addition, new LED fixtures and lighting are being installed to improve energy savings.

High-efficiency chiller: Replacing end-of-life air-cooled chiller with a high-efficiency unit to help improve occupant comfort.

Building management system: Expanding and optimizing the campus' Honeywell Enterprise Buildings Integrator (EBI) building automation system to further support energy conservation and create more comfortable learning environments.

'This project is another example of how Cambrian College is cementing itself as a leader in the field of technology education,' said Michael Pringle, Senior Business Consultant, Honeywell Building Technologies. 'It has been an exciting project to partner with the college on over the last decade to develop unique ways to support their energy efficiency, technology and sustainability goals. Our current phase takes this to a new level as we break ground with a geothermal heating system and deploy solutions that will help improve the college for staff and students.'

Earlier this year, Honeywell pledged its commitment to achieving carbon neutrality in its own operations and facilities by 2035. Since then, Honeywell has announced sustainability initiatives with partners like Kunsan Air Base, Sydney Opera House and Port Esbjerg, to help reduce their carbon impact.

About Cambrian College

Cambrian College is Northern Ontario's largest college, with more than 80 programs. Cambrian's main campus is in Greater Sudbury, with satellite centres in Espanola and Little Current. For more information about Cambrian College, visit www.cambriancollege.ca.

About Honeywell Building Technologies

Honeywell Building Technologies (HBT) is transforming the way every building operates to help improve the quality of life. We are a leading building controls company with operations in more than 75 countries supported by a global channel partner network. Commercial building owners and operators use our hardware, software and analytics to help create safe, efficient and productive facilities. Our solutions and services are used in more than 10 million buildings worldwide.

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.

Telleen Gegner

Sr External Comms Specialist

Email

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2021 34 588 M - -
Net income 2021 5 613 M - -
Net Debt 2021 8 626 M - -
P/E ratio 2021 25,2x
Yield 2021 1,87%
Capitalization 139 B 139 B -
EV / Sales 2021 4,27x
EV / Sales 2022 3,97x
Nbr of Employees 103 000
Free-Float 71,9%
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Last Close Price 202,24 $
Average target price 240,70 $
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Darius Adamczyk Chairman & Chief Executive Officer
Gregory P. Lewis Chief Financial Officer & Senior Vice President
Krishna Mikkilineni SVP-Engineering Operation & Information Technology
Suresh Venkatarayal Chief Technology Officer
Victor J. Miller Secretary, Chief Compliance Officer & VP
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