MORRISTOWN (dpa-AFX) - Nexceris has sold its Li-ion Tamer® off-gas monitoring solution to Honeywell (HON), integrating the premier lithium-ion battery safety technology into Honeywell's Building Automation fire life safety portfolio.
The move allows Nexceris to refocus on advanced materials and component-level innovations across clean energy sectors.
Li-ion Tamer®, originally developed in response to a battery fire at a U.S. Navy shipyard, has since logged over 400 million sensing hours and was commercialized globally through a five-year partnership with Honeywell. Nexceris CEO Kyle Shen praised the team's efforts in transforming a safety idea into a global solution that enhances energy storage safety.
The transaction aligns with Nexceris' strategy of commercializing technologies via partnerships and acquisitions. CCO Randall Stacy emphasized the company's broader mission to drive clean energy and safety innovations across renewable and fossil fuel industries.
Going forward, Nexceris will focus on scaling solutions for catalysts, electric vehicles, and electrochemical systems through its brands fuelcellmaterials and HeatPath Solutions. GreenFront Energy Partners acted as Nexceris' exclusive financial advisor for the deal.
Tuesday, HON closed at $235.30, down 1.16%, and dipped further after hours to $234.10, a decline of 0.51% on the NasdaqGS.
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