Honeywell focuses on energy transition tech, eyes acquisitions in India

livemint.com:

NEW DELHI : Nasdaq-listed Honeywell is open to acquisitions in India’s energy transition technology sector, said Ashish Modi, president for India operations. In an interview, Modi said Honeywell recently restructured its operations into three segments: automation, aviation and energy transition. Battery storage and green hydrogen will be key areas of immediate focus in energy transition, he added.

“We are always open to inorganic opportunities that bolster our strategy. Like we said, an announcement came out for the automation space. I think, energy transition is most obvious one (for acquisitions) as there are too many moving parts, and not one player can solve the issue or the equation.

So, you need more help." On 11 December, the firm acquired Carrier Global Corp.’s global access solutions business. In aviation, Honeywell works in partnership for specific technologies such as unmanned aerial vehicles, but in energy transition, he said there are ample opportunities for inorganic growth and acquisitions of newer technologies. “The energy transition side is up for grabs.

Already you know people are grappling with it..." The company is focussing on battery management systems (BMS) and a green hydrogen ecosystem. “Our participation in battery is through a couple of places. One is we call BESS, battery energy storage system, so we don’t exactly manufacture batteries.

But we would put together grid scale battery storage system. In which you take the battery, you put the control system around it, you set up the safety system around it. You build the software so that it interacts with the grid.