Honeywell establishes the Low Carbon Center of the Institute for Sustainable Development

• Focus on low-carbon technology research to help customers achieve sustainable development and China's "dual carbon" goals

• Honeywell and Wison Engineering (China) Co., Ltd. signed a memorandum of understanding on strategic cooperation in low-carbon technologies

Shanghai, China, August 18, 2021 – Honeywell (NASDAQ: HON) today announced the establishment and unveiling of the Low Carbon Center of the Honeywell (China) Co., Ltd. Institute for Sustainable Development. The center will focus on the development and market demand of low-carbon technologies, and use Honeywell's innovative products and technologies as the engine to promote the development and implementation of low-carbon solutions in the Chinese market, helping customers achieve sustainable development and China's "carbon peak" and "carbon neutrality" goals.

Honeywell establishes the Low Carbon Center of the Institute for Sustainable Development

The Low Carbon Center will pay close attention to the current market development and actively explore cutting-edge trends, and regularly publish white papers and research reports on advanced low-carbon technologies, products and services. At the ceremony, Honeywell pointed out that the direction of the low-carbon center will focus on six major technical areas: new energy, recycling of renewable resources and materials, technologies to improve hydrocarbon conversion efficiency and reduce energy consumption, carbon capture, utilization and storage, non-carbon dioxide greenhouse gas emission reduction technology and green hydrogen application.

"The birth of the low-carbon center is not only driven by global climate governance and China's 'dual carbon' goals, but also a strong reflection of Honeywell's own continuous investment in environmental, social and corporate governance (ESG)." Maoshu Liu, vice president and general manager of Honeywell Performance Materials and Technologies Group for Asia Pacific, said. "We will be committed to building the low-carbon center into a platform for cooperation between Honeywell and government departments, enterprises, research institutions, industry organizations, universities and other partners in the low-carbon field, so as to jointly promote the low-carbon transformation of the industrial chain and develop a circular economy."

At the unveiling ceremony, Honeywell signed a strategic cooperation memorandum with Wison Engineering (China) Co., Ltd., a subsidiary of Wison Group, to cooperate in the application and engineering of low-carbon emission technologies, covering the application of hydrogen in petrochemical industry, renewable energy, biomass energy production and utilization, etc. The two parties will also explore and cooperate in the development and application of localized process design, market opportunities, and new business models. The two companies hope to leverage Honeywell's low-carbon technologies, equipment, services, and commercial experience in the Chinese market to help customers in China sustain their sustainable development.

"We are pleased to enter into a strategic cooperation with Honeywell in the field of low-carbon emission technology application and engineering, in line with the global trend of carbon emission reduction and promote the application of low-carbon technology in China." Liu Hongjun, chairman of the board of directors of Wison Engineering, said. "We look forward to the two parties giving full play to their respective advantages to help customers achieve sustainable development and China's 'dual carbon' goals."

Honeywell has extensive experience and unique advantages in sustainability, energy conservation and emission reduction, and approximately 50% of the company's new product development is based on improving customers' environmental performance and social benefits. Taking Honeywell Performance Materials and Technologies as an example, its Solstice® low-GWP series of products, "refinery of the future" solutions, renewable energy network management and optimization technology, battery energy storage technology, Kellert smart combustion solutions, and carbon capture, utilization and storage technology can effectively help customers reduce carbon emissions and achieve cost reduction and efficiency improvement.

"One of the missions of the Low Carbon Center is to introduce Honeywell's world-class advanced low-carbon technologies to serve the Chinese market, and at the same time help independently develop low-carbon solutions that meet the needs of local customers." Dr. Lubo Zhou, Chief Technology Officer of Honeywell Performance Materials and Technologies Asia Pacific and President of the Institute of Sustainable Development of Honeywell (China) Co., Ltd., said. "We firmly believe that technological innovation can truly solve the pain points of customers and the industry, and we look forward to building the Low Carbon Center into a think tank that integrates forward-looking insights and pragmatic operations."

The Institute of Sustainable Development of Honeywell (China) Co., Ltd. is a subsidiary of Honeywell Performance Materials and Technologies Group, formerly known as the Environmental Protection Research Institute of Honeywell (China) Co., Ltd., which was established in 2018. The upgraded research institute integrates the innovative strength and experts of the business group, covering various fields such as R&D, technology, marketing, and products.

As a high-tech digital industry company, Honeywell is well aware of its important responsibility in the low-carbon transformation of the industry. Honeywell has a long history of improving its own environmental and sustainability performance, as well as helping customers achieve their sustainability goals through product innovation. In April, Honeywell announced its commitment to achieve carbon neutrality across all operations and facilities by 2035, in line with China's carbon reduction goals and sustainable development direction.

Honeywell establishes the Low Carbon Center of the Institute for Sustainable Development

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