Expands Honeywell's Smart Energy Portfolio and Builds on Existing Capabilities of Honeywell Forge Performance+ for Utilities
CHARLOTTE, N.C., Aug. 20, 2025 /PRNewswire/ -- Honeywell (NASDAQ: HON) today announced the expansion of its Smart Energy portfolio with the tuck-in acquisition of three utility platforms from SparkMeter, Inc., a provider of leading grid management solutions for utilities. The acquisition includes intellectual property as well as certain related assets from SparkMeter.
The integration of these grid intelligence technologies from SparkMeter significantly enhances Honeywell Forge Performance+ for Utilities, enabling the delivery of scalable, data-driven solutions designed to modernize grid infrastructure and address the increasing demand for energy.
The platforms Honeywell is acquiring include:
- Praxis, a data platform designed to deliver insights and analytics that help utilities modernize, maximize, and monetize their assets.
- GridScan, a software application that provides simple and immediate visibility into the operational performance and health of distribution grids.
- GridFin, a financial management application that analyzes and manages energy supply costs, optimizes customer rates, and improves overall financial performance.
"As the demand for energy continues to grow, utilities are facing new challenges that can impact their ability to quickly and efficiently modernize their infrastructure to meet these needs," said Amol Motivala, president, Honeywell Smart Energy. "By combining these SparkMeter technologies with Honeywell Forge Performance+ for Utilities, we will be able to provide our customers with advanced tools that automate, simplify and optimize their daily planning, operations and existing grid assets. The expansion of our smart energy portfolio will ensure our customers can navigate changing energy demands efficiently - allowing for more comprehensive data management, business intelligence and analytics functionality for utilities."
The acquisition follows Honeywell's announcement of the planned spin-offs of its Aerospace Technologies and Solstice Advanced Materials businesses, which will result in three publicly listed industry leaders with distinct strategies and growth drivers. Since June 2023, Honeywell has also announced a number of strategic actions to drive organic growth and simplify its portfolio, including $14 billion of accretive acquisitions: Compressor Controls Corporation, SCADAfence, the Access Solutions business from Carrier Global, Civitanavi Systems, CAES Systems, the LNG business from Air Products, Sundyne, Johnson Matthey's Catalyst Technologies Business and Li-ion Tamer. Honeywell also completed the sale of its Personal Protective Equipment business to Protective Industrial Products in May 2025.
About Honeywell:
Honeywell is an integrated operating company serving a broad range of industries and geographies around the world. Our business is aligned with three powerful megatrends - automation, the future of aviation and energy transition - underpinned by our Honeywell Accelerator operating system and Honeywell Forge IoT platform. As a trusted partner, we help organizations solve the world's toughest, most complex challenges, providing actionable solutions and innovations through our Aerospace Technologies, Industrial Automation, Building Automation and Energy and Sustainability Solutions business segments that help make the world smarter and safer as well as more secure and sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.
We describe many of the trends and other factors that drive our business and future results in this release. Such discussions contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act). Forward-looking statements are those that address activities, events, or developments that management intends, expects, projects, believes, or anticipates will or may occur in the future and include statements related to the proposed spin-off of the Company's Advanced Materials business into a stand-alone, publicly traded company and the proposed separation of Automation and Aerospace. They are based on management's assumptions and assessments in light of past experience and trends, current economic and industry conditions, expected future developments, and other relevant factors, many of which are difficult to predict and outside of our control. They are not guarantees of future performance, and actual results, developments and business decisions may differ significantly from those envisaged by our forward-looking statements. We do not undertake to update or revise any of our forward-looking statements, except as required by applicable securities law. Our forward-looking statements are also subject to material risks and uncertainties, including ongoing macroeconomic and geopolitical risks, such as lower GDP growth or recession, supply chain disruptions, capital markets volatility, inflation, and certain regional conflicts, that can affect our performance in both the near- and long-term. In addition, no assurance can be given that any plan, initiative, projection, goal, commitment, expectation, or prospect set forth in this release can or will be achieved. These forward-looking statements should be considered in light of the information included in this release, our Form 10-K and other filings with the Securities and Exchange Commission. Any forward-looking plans described herein are not final and may be modified or abandoned at any time.
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SOURCE Honeywell International
