September 27, 2016

Honeywell Supports U.S. EPA’s Program To Reduce Harmful Greenhouse Gas Emissions

Contact:
Josephine Lee
973-455-2015
josephine.lee@honeywell.com

Honeywell’s diverse portfolio and global supply network ensures low-global-warming solutions are available today for a variety of applications

MORRIS PLAINS, N.J., September 26, 2016 — Honeywell (NYSE: HON) announced today its support of the U.S. Environmental Protection Agency’s latest decisions for the Significant New Alternative Policy (SNAP). The program evaluates and regulates environmentally preferable substitutes for chemicals that are being phased out under the Clean Air Act.

Global warming potential (GWP) is one of several criteria the EPA considers when listing alternative solutions and timelines for adoption. In particular, hydrofluorocarbons (HFCs) have been shown to have high GWP, and the EPA’s latest actions aim to phase down their use.

“Honeywell is committed to supporting the EPA’s efforts to reduce greenhouse gas emissions by restricting the use of high-GWP materials, a key component of President Obama’s Climate Action Plan,” said Ken Gayer, vice president and general manager of Honeywell’s Fluorine Products business. “Our scientists have worked tirelessly to create alternative solutions that are available today, and provide similar or even better performance at much lower environmental impact.”

Honeywell’s Solstice® product suite provides a broad portfolio of reduced-GWP and low-GWP solutions that are considered acceptable and meet the conditions set out by the new SNAP decisions:

  • Medium- and Heavy-Duty Motor Vehicle Air Conditioning: Honeywell’s Solstice yf (HFO-1234yf) is listed as an acceptable solution. More than 10 million cars on the road today use 1234yf, and that number is expected to reach 40 million by the end of 2017.
  • Chillers: Several high-GWP substances are now listed as unacceptable or subjected to narrowed use limits by 2024. Honeywell’s Solstice zd (HFO-1233zd) and Solstice ze (HFO-1234ze) are suitable low-GWP alternatives that can be found in chillers from more than 15 global manufacturers.
  • Foam-Blowing Agents: The EPA is phasing out the use of high-GWP HFC foam-blowing solutions across a range of applications, including foams used for insulation in appliances and construction applications like spray foam and extruded polystyrene (XPS). Honeywell’s Solstice Liquid Blowing Agent (HFO-1233zd) and Solstice Gas Blowing Agent (HFO-1234ze) are acceptable alternatives that are currently used by more than 35 manufacturers around the world.

Honeywell and its suppliers are in the middle of a $900 million investment program in R&D and new capacity to produce stationary, commercial refrigeration and mobile refrigerants, liquid and gaseous blowing agents, solvents and propellants based on Honeywell’s hydrofluoro-olefin (HFO) technology, which helps customers lower their carbon footprint without sacrificing end-product performance. These solutions have GWPs equal to or better than carbon dioxide and at least 99 percent lower than most technologies used today.

Worldwide adoption of Solstice products has resulted in the reduction of more than 31 million metric tons of greenhouse gases to date, equal to eliminating emissions from more than 6 million cars. Honeywell estimates that increasing global adoption of its Solstice products can remove 475 million metric tons of carbon dioxide equivalent emissions by 2025, equal to removing 100 million cars from the road for one year.

Honeywell’s legacy in energy efficiency began more than 125 years ago with the invention of the modern thermostat, and Honeywell continues to lead in this area with best-in-class solutions for homes, buildings, factories and transportation. Nearly 50 percent of Honeywell’s portfolio is dedicated to energy efficient products and services, ranging from programmable thermostats and energy management systems, to turbochargers and green fuels, to industrial controls and lighter aircraft components.

Honeywell (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes, and industry; turbochargers; and performance materials. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.

This release contains certain statements that may be deemed “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.

# # #