INDIA: In a growing wave of sophisticated cyber threats against the industrial sector, ransomware attacks jumped by 46% from Q4 2024 to Q1 2025, according to Honeywell’s (Nasdaq: HON) new 2025 Cybersecurity Threat Report. The research also found that both malware and ransomware increased significantly in this period and included a 3,000% spike in the use of one trojan designed to steal credentials from industrial operators. 

“Industrial operations across critical sectors like energy and manufacturing must avoid unplanned downtime as much as possible, which is precisely why they are such attractive ransomware targets,” said Paul Smith, director of Honeywell Operational Technology (OT) Cybersecurity Engineering, who authored the report. “These attackers are evolving fast, leveraging ransomware-as-a-service kits to compromise the industrial operations that keep our economy moving.” 

The Cybersecurity and Infrastructure Security Agency (CISA) in the United States defines incidents as substantial if they enable unauthorized access leading to significant operational downtime or impairments. Industry reports show that unplanned downtime, caused by cybersecurity attacks and other issues like equipment failure, costs Fortune 500 companies approximately $1.5 trillion annually, representing 11% of their revenue.

To develop the report, Honeywell researchers analyzed more than 250 billion logs, 79 million files, and 4,600 incident events that were blocked across the company’s global install base, finding:

• Ransomware still on the rise: 2,472 potential ransomware attacks were documented in the first quarter of 2025, which represents 40% of the annual total from 2024.
• Trojans exploiting industrial access: A dangerous Trojan targeting OT systems – W32.Worm.Ramnit accounted for 37% of files blocked by Honeywell’s Secure Media Exchange (SMX). This finding points to a 3,000% spike in the trojan compared to the previous quarter.
• USB-based threats persist: 1,826 unique USB threats were detected via SMX in Q1 2025, with 124 never-before-seen threats, indicating a persistent risk via external media and USB devices. This is built on a 33% increase in USB malware detections in 2023, following a 700% year-over-year surge in 2022.

The report expanded its analysis to include threats delivered through additional plug-in hardware, known as Human Interface Device (HID), including mice, charging cords for mobile devices, laptops, and other peripherals often used when updating or patching software for on-premise systems.

“With increasingly significant threats and updated SEC reporting regulations requiring the disclosure of material cybersecurity incidents, industrial operators must act decisively to mitigate costly unplanned downtime and risks, including those linked to safety,” Smith said. “Leveraging Zero Trust architecture and AI for security analysis can speed detection and enable smarter decision making and proactive defense in an increasingly complex digital landscape.”

To learn more and download the full report, visit our website.

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INDIA: Honeywell (Nasdaq: HON) today announced that it is working to develop an artificial intelligence (AI)-enabled Multi-Modal Intelligent Agent for Honeywell mobile devices powered by Qualcomm Technologies, Inc. The agent will allow workers and customers in the distribution center and retail industries to interact naturally with their handheld devices through voice, pictures, and barcodes.

This AI-powered solution is built to function as a digital resource for the modern labor force and is designed to enable today’s stretched workforce to quickly tap into answers and outcomes, helping result in time savings, greater accuracy, and interactive results. The design and development of the Multi-Modal Intelligent Agent also supports Honeywell’s alignment of its portfolio to three compelling megatrends, including automation.

Workers will be able to enter data into the technology and then receive practical answers to queries like, “Do we have the gluten-free variant of this product in stock?” or “Where can I find this particular item in the store?” Depending on the question, users will receive responses in the form of an image, video, spoken response, text answer, or a combination of several modalities. This functionality is designed to enable workers to more efficiently complete their work while simultaneously navigating other ongoing tasks, such as assisting customers in a retail setting or performing multi-step workflows in a distribution center. The solution will be available to users through a software development kit that can integrate with an organization’s existing applications and systems.

“Utilizing our strengths in on-device generative AI, high-performance and low power computing, this collaboration with Honeywell underscores our commitment to pioneering innovative solutions that will propel the expansion of the connected intelligent edge,” said Nakul Duggal, group general manager, of automotive, industrial and embedded IoT, and cloud computing, Qualcomm Technologies, Inc. “Honeywell’s new Multi-Modal Intelligent Agent represents a significant step forward in utilizing advanced edge AI to streamline operations and elevate customer interactions across industries. This initiative enables us to drive digital transformation, enhancing how businesses interact with their environments through intelligent and responsive technology.”

“By pairing Honeywell’s easy-to-use mobile devices and intelligent software with Qualcomm Technologies’ industry-leading edge AI processors, Honeywell is creating solutions to make workers’ jobs easier while also helping businesses produce the stellar experience they want for their customers,” said Jason Urso, Honeywell Industrial Automation chief technology officer. “With AI, Honeywell is amplifying what’s possible for businesses with mobile workers today.”

The Multi-Modal Intelligent Agent is expected to be available in early 2025. To learn more about how Honeywell is leveraging AI across key industries, visit: https://automation.honeywell.com/us/en/solutions/productivity.

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DELHI: Honeywell (NASDAQ: HON) announced the launch of INNCOM Direct, an easy-to-install energy management system that uses automation to help improve energy efficiency in mid-market hotel properties. The launch of INNCOM Direct supports Honeywell’s alignment of its business around three compelling megatrends, including automation and the energy transition.   

With more than 30% of U.S. hotel rooms typically vacant at any time, INNCOM Direct enables a hotel to manage energy-intensive HVAC systems more efficiently during periods when guestrooms are vacant. 

“As hotels become more carbon-conscious, they are taking meaningful steps to show they care about their impact on the environment,” said Billal Hammoud, president and chief executive officer of Honeywell Building Automation. “Until now, mid-market hotels faced fewer options when it came to better managing their HVAC systems with automation. Now, INNCOM Direct is leveling the playing field with an affordable, cloud-based energy management system.”  

The INNCOM technology was previously only available to high-end hotel operators. Now, this combination of hardware, software, and cloud monitoring provides mid-market, also known as limited-service, hotels with quick setup and portfolio analytics that can be accessed from mobile devices or a dashboard and can be used either on a single property or across an entire portfolio.  

Since empty rooms and common areas do not need the same level of heating or cooling, INNCOM Direct uses a proprietary detection system to identify empty spaces and autonomously adjust the temperature without impacting consumer comfort. Similarly, unrented guest rooms can be set to a specific setting that can be heated or cooled to a more comfortable temperature once a guest checks in. If a guest leaves a room for an extended time, INNCOM Direct can change the temperature to an eco-friendlier temperature that is then automatically adjusted when the guest returns.  

When it broke ground on its fifth hotel in Spring Hill, Tenn., Halifax Hospitality wanted ways to control its HVAC use, which can consume as much as 25% of the power bill, so it signed on to use INNCOM Direct. At 92,000 square feet and 159 rooms, this hotel is double the size of what the company would have developed a decade ago, leading to higher operational costs.  

“Hotel rooms are getting bigger and bigger, and we needed something that will deliver energy savings, especially when guests aren’t using the room or a common area is empty,” said Hitesh Patel, vice president of Halifax Hospitality. “Utility costs are going up just like anything else. We’re always looking to find the next big thing to cut costs where we can.”  

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MUMBAI: Honeywell (NASDAQ: HON) has signed a long-term agreement with Air India Limited, India’s leading global airline and a Tata Group enterprise, for Auxiliary Power Unit (APU) aftermarket support covering both Air India’s existing and new fleets. The agreement provides comprehensive maintenance support for Honeywell APUs, ensuring high aircraft dispatch reliability and fleet availability, and lower unplanned maintenance costs across Air India’s fleet.

The APU is a critical piece of aircraft equipment that provides electrical power and air conditioning to a plane while it is on the ground. It helps ensure passenger comfort and supplies the air source before a pilot is ready to start the main engines. APUs are part of a broad range of Honeywell technologies shaping the future of aviation. This is one of three global megatrends that Honeywell’s portfolio is aligned to, which also includes Automation and Energy Transition.

With air travel steadily growing, the need for easily accessible aftermarket services continues to rise. Under the agreement, Honeywell will deliver to Air India comprehensive APU aftermarket support to ensure the continued reliability and efficiency of Air India’s extensive fleet of more than 300 aircraft. This includes its legacy fleet, which consists of over 100 A320 aircraft, 15 B777 aircraft, and its new fleet of 190 B737-8 aircraft, and will cover Honeywell’s 131-9A, 131-9B, and 331-500 series APUs. Honeywell’s extensive global service and support network is designed to ensure that its APUs operate at optimal performance with minimal operational disruption.

Sisira Kanta Dash, chief technical officer, of Air India, said: “This is an exciting milestone that adds to our long-standing partnership with Honeywell. This agreement forms part of our global growth and transformation plans, to help achieve more efficient, reliable operations, with maximized fleet availability, through Honeywell’s advanced technology services that enable us to continue meeting the needs of our valued customers.”

With over seven decades of experience and having produced over 100,000 gas turbine APUs, Honeywell is a trusted leader in auxiliary power solutions. Honeywell’s time-tested APUs are known for their reliability and play a crucial role in enhancing flight safety and ensuring operational dependability and fuel efficiency. Honeywell also offers a global, comprehensive support network with fully integrated service solutions that meet the industry’s evolving needs.

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• The acquisition will build on Honeywell’s energy transition capabilities by creating an end-to-end offering for customers worldwide
• The combination will create new opportunities for diversified growth and innovation in aftermarket services and software
• The transaction is expected to be immediately accretive to Honeywell’s sales growth and segment margin while also accretive to adjusted EPS in the first full year of ownership
• Air Products to continue its focus on its industrial gas business and related technology and equipment and drive the energy transition through clean hydrogen at scale

INDIA: Honeywell (Nasdaq: HON) and Air Products (NYSE: APD) jointly announced today that Honeywell has agreed to acquire Air Products’ liquefied natural gas (LNG) process technology and equipment business for $1.81 billion in an all-cash transaction. This represents approximately 13x the estimated 2024 EBITDA.

As a result of the acquisition, Honeywell will be able to offer customers a comprehensive, top-tier solution for managing their energy transformation journey. The new holistic offering will encompass natural gas pre-treatment and state-of-the-art liquefaction, utilizing digital automation technologies unified under the Honeywell Forge and Experion platforms. This full-service solution will enable efficient, reliable, and optimized management of natural gas assets, delivering unparalleled value and support.

Currently, Honeywell provides a pre-treatment solution serving LNG customers globally. Air Products’ complementary LNG process technology and equipment business consists of a comprehensive portfolio, including in-house design and manufacturing of coil-wound heat exchangers (CWHE) and related equipment. CWHEs provide the highest throughput of natural gas in a single exchanger with a small footprint and robust, reliable, and safe operations both onshore and offshore.

“While the world continues to build the renewables-based energy infrastructure of the future, natural gas is a critical lower-emission and affordable transition fuel that will help meet ever-increasing and dynamic global energy demands,” said Vimal Kapur, Chairman and CEO of Honeywell.

This highly complementary acquisition will further strengthen our energy transition portfolio, and Air Products’ CWHE technology will immediately expand our installed base – creating new opportunities to compound growth in aftermarket services and digitalization through our Honeywell Forge platform,” Kapur added.

“The decision to divest our LNG heat exchanger technology and equipment business reflects Air Products’ continued focus on its two-pillar strategy — to grow our core industrial gas business and related technology and equipment, and to be a first-mover delivering clean hydrogen at scale to decarbonize industrial and heavy-duty transportation sectors,” said Air Products’ Chairman, President and Chief Executive Officer Seifi Ghasemi. “The LNG business is a great business and at its strongest point in its decades-long history thanks to the outstanding work of our people, and they will be in good hands to advance as part of Honeywell’s related portfolio of technologies.”

The LNG market has quadrupled over the past 20 years and is expected to double over the next two decades, driven by demand in key end markets including power and data centers according to industry research.

Ken West, President and CEO of Honeywell’s Energy and Sustainability Solutions (ESS) segment said, “The integration of this talented team and the acquired proprietary technologies will enable Honeywell UOP to bring a full spectrum of scalable solutions and services that help our global customers navigate the complex journey to more sustainable and efficient energy practices.”

Air Products’ LNG Business has approximately 475 employees with headquarters in Allentown, Pennsylvania, and a 390,000-square-foot manufacturing facility in Port Manatee, Florida, where all sizes of CWHEs are made.

This is the fourth acquisition Honeywell has announced this year as part of its disciplined capital deployment strategy. The company is focused on high-return acquisitions that will drive future growth across its portfolio, which is aligned with the three compelling megatrends of automation, the future of aviation, and energy transition.

This transaction, which is expected to be adjusted earnings per share accretive in the first full year of ownership is not subject to any financing conditions and is expected to close before the end of the calendar year, subject to customary closing conditions, including receipt of certain regulatory approvals.

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INDIA: Honeywell (NASDAQ: HON) has announced the launch of its Battery Manufacturing Excellence Platform (Battery MXP), an artificial intelligence (AI)-powered software solution designed to optimize the operation of gigafactories from day one by improving battery cell yields and expediting facility startups for manufacturers.

With traditional standalone solutions, battery manufacturers’ material scrap rates can be as high as 30% at steady state and even higher during the facility startup process^[ii]. This practice can lead to millions of dollars of wasted energy and material while a gigafactory slowly scales to a more efficient and profitable production over several years.

Battery MXP incorporates AI techniques in the manufacturing process, which enables the detection and remediation of quality issues before they result in scrapped material. The solution then utilizes machine learning to identify conditions that lead to quality issues and turns this data into action-oriented insights that manufacturers can use to improve efficiency and productivity.

By delivering powerful data that can improve quality control and decision-making on the plant floor, Battery MXP is designed to help manufacturers cut production ramp-up time, reduce startup material scrap rates by 60%, and increase delivery rates to meet the growing demand for lithium-based batteries.^[iii]

“With Honeywell’s Battery MXP and its automation capabilities, we will be able to quickly and effectively establish a foundation for our network of gigafactories,” said John Kem, president of American Battery Factory. “This solution is vital in our manufacturing operation because it allows us to reduce scrap and scale up quickly, while also ensuring we meet the U.S. and international demand for high-quality lithium iron phosphate batteries as we prepare for the unprecedented surge expected over the next decade.”

By providing bidirectional traceability and genealogy, Battery MXP tracks battery cells from raw material to finished product in real-time, helping to ensure product quality at every step. The solution also helps to address other key challenges faced by battery manufacturers by offering solutions for process controls, workforce management, and thermal runaway battery fire prevention. These safety elements aid both operators in the gigafactory and end-users of the batteries to stay safe.

“The electrification of everyday life continues to increase global demand for quality lithium-ion batteries to power electric vehicles, consumer electronics, and battery energy storage systems,” said Pramesh Maheshwari, President of Honeywell Process Solutions. “With the construction of more than 400 gigafactories planned worldwide by 2030, Honeywell’s Battery MXP is a crucial technology that enables manufacturers to maximize cell yields and reach peak production much quicker than traditional methods.”

The use of automation to advance the world’s electrification journey supports Honeywell’s alignment of its portfolio to the automation and energy transition megatrends. As a key player in the global energy transition, Honeywell is applying its complete portfolio in industrial automation, cyber secure IoT (Internet of Things), material handling, building automation, and safety solutions to help battery manufacturers bring reliable products to the market as quickly as possible to meet the projected demand for battery cells.

For more information on Battery MXP and Honeywell’s gigafactory solutions, visit process.honeywell.com/us/en/industries/sheet-manufacturing/lithium-ion-batteries.

^[i] According to internal Honeywell data testing Battery MXP in the pilot phase

^[ii] Source: NREL (Automotive Lithium-ion Cell Manufacturing: Regional Cost Structures and Supply Chain Considerations (nrel.gov)

^[iii] According to internal Honeywell data testing Battery MXP in the pilot phase, not solely the AI component

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INDIA: Honeywell (Nasdaq: HON) has announced an update to incorporate artificial intelligence (AI) and machine learning into its Guided Work Solutions to help bring greater operational efficiency and better shopper experiences to retailers in today’s competitive landscape. Honeywell Guided Work Solutions’ AI-driven speech technology enables in-store associates to perform tasks like click-and-collect order fulfillment, shelf restocking, and returns processing with speed and efficiency. The development of an AI-enhanced solution to streamline retail operations also supports Honeywell’s portfolio alignment to three compelling megatrends: automation, the future of aviation, and energy transition.

By combining headset-enabled speech direction with software that offers insights and analytics built on Honeywell Forge architecture, the updated solution walks retail associates through workflows in real time. Associates simply talk into a hands-free headset and then receive specific directions and confirmation they are selecting the right items. With the integration of AI, the solution can understand employees’ speech in more than 48 different languages, despite variations in tone, dialect, and pronunciation.

“The retail landscape has undergone a significant transformation, particularly with trends like buy online, pick up in-store, and the advent of highly personalized shopping experiences,” said David Barker, president of Honeywell Productivity Solutions and Services. “As retailers seek ways to improve their operational performance and enhance the customer experience, Guided Work Solutions is the ideal tool to accomplish these goals. It harnesses the strengths of AI technology to empower retail associates to serve in-store customers more efficiently.”

Honeywell Guided Work Solutions helps retailers build a competitive advantage and optimize daily operations by increasing productivity, decreasing training time, and cutting out-of-stock items on shelves, thereby facilitating the potential for greater in-store sales. Since launching Honeywell Guided Work Solutions in 2018, it has enabled retailers to improve productivity by more than 30% over radio frequency (RF) scanning and to reach upwards of 99% accuracy in product picking.* As a result, store managers can make improved use of limited labor resources by leveraging time savings to reallocate their workforce to other value-added activities or to increase the number of orders fulfilled within the same timeframe.

To learn more about Honeywell Guided Work Solutions, visit: https://automation.honeywell.com/us/en/solutions/productivity

*According to Honeywell customer data regarding Guided Work Solutions overall, not solely the AI component.

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INDIA: Honeywell today introduced Honeywell Forge Performance+ for Utilities, a groundbreaking platform designed to help utilities improve their operations and enhance the performance of existing utility grid assets and IT investments. The integration of automation software for utilities supports Honeywell’s alignment of its portfolio with the automation and energy transition megatrends.

The new solution is built on Honeywell Forge, which incorporates artificial intelligence (AI), machine learning, and digital twin capabilities intended to help utilities monitor assets, effectively identify root causes, and introduce predictive analytics to become more proactive with grid asset management. Forge Performance+ for Utilities also enables automation processes like demand response and distributed energy resource management to increase grid reliability and stability.

“Honeywell Forge Performance+ for Utilities is designed to enhance existing systems, providing greater value to utility companies’ investments and supporting a seamless combination of capabilities from various tools into a single, reliable platform,” said Hamed Heyhat, President of Honeywell Smart Energy and Thermal Solutions (SETS). “Through the power of digitalization, utilities will now have access to more quality data to better serve their customers and assets.”

Most traditional utility distribution grids were designed over a century ago to support highly predictable top-down generation and distribution of energy, water, or gas to consumers, leading to a lack of data or siloed data. Today, utilities face new challenges ranging from interpreting massive amounts of Advanced Metering Infrastructure (AMI) data and grid asset data to managing the accelerating adoption of less predictable Distributed Energy Resources (DERs). These renewable energy sources include solar panels, wind turbines, energy storage systems, and electric vehicles.

Honeywell Forge Performance+ for Utilities delivers near real-time insight to help utilities improve grid operation and address variability associated with new energy sources. The solution also provides a “bottom-up” forecast of energy demand, available distributed power-generating assets, and controllable loads designed to provide heightened operational visibility. With this visibility, utilities can better balance energy supply and demand which contributes to grid reliability and resiliency.

“The industry needs an innovative solution to help store and digitalize the multiple data streams from complex utility infrastructures around the world,” said Ben Dawson of SECO Energy, a not-for-profit electric cooperative based in Central Florida. “Honeywell Forge Performance+ for Utilities’ ability to receive real-time actionable insights on one connected platform helps utilities better connect with their customers worldwide.”

The innovative platform integrates, organizes, and visualizes data from various sources to accelerate analytics processes and digitalize utility grid data into actionable, real-time business and operational insights. It can run a variety of applications, including those from both Honeywell and third-party partners such as SparkMeter.

To learn more about Honeywell Forge Performance+ for Utilities, please visit this website.

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MUMBAI: Honeywell today announced a transformational new naphtha to ethane and propane (NEP) process that will enable regions across the world to improve the efficiency of light olefin production and lower CO2 emissions per metric ton of olefin produced. 

Ethane and propane are the ideal feedstocks for producing ethylene and propylene – important petrochemicals used in the production of chemicals, plastics, and fibers. This innovation demonstrates Honeywell’s alignment of its portfolio with three compelling megatrends, including the energy transition.

The NEP technology generates a tunable amount of ethane and propane from naphtha and/or LPG feedstocks.  In a typical NEP-based olefin production complex, the ethane will be fed to an ethane steam cracking unit and the propane will be fed to a propane dehydrogenation unit. This approach generates more high-value ethylene and propylene with reduced production of lower-value byproducts compared to a traditional mixed-feed steam cracking unit directly processing the same quantity and composition of the feedstock. This new approach results in Net Cash Margin increases from 15 to 50%¹.

An NEP-based olefins complex also reduces CO₂ intensity per metric ton of light olefins produced by 5 to 50% versus a traditional mixed-feed steam cracker². Honeywell’s latest technology expands our portfolio of offerings to help meet the growing demand for efficient petrochemical solutions.

“The petrochemical industry faces strong competition and challenges in obtaining raw materials globally,” said Matt Spalding, vice president and general manager of Honeywell Energy and Sustainability Solutions in MENA. “Our technology helps to enable more efficient production of ethylene and propylene, two chemicals which are in high demand, while also helping our customers lower their carbon emissions.”

This new solution is a part of Honeywell’s Integrated Olefin Suite technology portfolio – a first-of-its-kind in the industry that creates differentiated offerings to enhance the production of light olefins.

^[1] Based on two UOP crude to petrochemical studies (ID#0033, ID#0034) using standard UOP simulation models and methodologies to estimate net cash margin (NCM) as applied to two different greenfield petrochemical configurations and use cases. 

² Based on three UOP crude to petrochemical studies (ID#0033, ID#0034, ID#0035) using standard UOP simulation models and methodologies to estimate combined Scope 1-3 emissions as applied to three different greenfield petrochemical configurations and use cases. 

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INDIA: Honeywell (Nasdaq: HON) announced it was selected by Lilium (Nasdaq: LILM), the developer of the first all-electric vertical takeoff and landing (eVTOL) jet, to supply propulsion unit position sensors for the Lilium Jet. Honeywell designed these sensors, known as “resolvers,” specifically for the needs of the Lilium Jet. The sensors will play a critical role in accurately sensing the engine’s position, ensuring that the jet can safely reach the exact position required for a successful takeoff.

Creating sensing solutions for regional air mobility supports Honeywell’s portfolio alignment to three compelling megatrends: automation, the future of aviation, and energy transition. Honeywell is an investor in Lilium and supplies many key components for the Lilium Jet, including e-motors for the engines, avionics, onboard thermal management systems, and the flight control computer.

“Honeywell’s expertise in both the aerospace and sensing industries means that they can understand the unique needs of and create tailored solutions for the Lilium Jet,” said Yves Yemsi, chief operating officer at Lilium. “In rethinking the traditional resolver, Honeywell is playing a key role in turning our concept, a fully electric jet that takes off and lands vertically, into a reality.”

Lilium is creating the world’s first eVTOL jet and aims to develop zero operating emissions, and accessible modes of high-speed, regional transportation. The Lilium Jet is powered by 30 electric ducted fan engines, each of which needs to move precisely from a vertical to a horizontal position to support takeoff and forward movement in the air. This action is controlled by a resolver, traditionally a heavier piece of equipment composed of coils of copper wire and magnetic steel.

Honeywell, working closely with Lilium, created a customized, solid-state resolver using patented spiral magnet technology and magneto-resistive sensors that can determine the position of magnetic objects. The resolver is substantially less expensive and lighter-weight than traditional counterparts. Although specific to the Lilium Jet, this Honeywell-patented technology can be replicated across other types of electric aircraft and will play an important role in furthering the adoption of advanced air mobility.

“This expansion of the existing partnership between Honeywell and Lilium demonstrates the companies’ ongoing commitment to create solutions for the future of more sustainable transportation,” says Sarah Martin, president of Honeywell Sensing Solutions. “A growing number of eVTOLs will be flying above us very shortly, representing a groundbreaking step in the electrification of air transport. Our sensors, though small, are playing a large part in making these aircraft a reality.”

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