As per a grant agreement between the U.S. Trade and Development Agency (:USTDA) and Midea – a leading manufacturer of home appliances in China, Honeywell International Inc (HON) decided to help lessen the climate impact of refrigerators and freezers in China.
Midea and Honeywell will work together to implement its low-global-warming-potential Solstice Liquid Blowing Agent (:LBA) technology for refrigerator insulation. Honeywell’s Solstice LBA technology has a global warming potential of 1, which is significantly lower in comparison to hydrofluorocarbon (HFC) blowing agents. The benefits of Solstice LBA combined with its low environmental impact and nonflammability makes it a perfect replacement for hydrocarbons.
Solstice LBA performs better in comparison to hydrocarbons in refrigerator applications by delivering low-temperature efficiency, which results in energy savings.
Honeywell's Solstice products are already in use by premium air-conditioning and refrigeration makers globally and its blowing agents are well known for energy-efficient foam insulation. This project is likely to improve the environmental footprint of appliances in China. Other products in the Solstice-branded products range by Honeywell include stationary and mobile refrigerants, gaseous blowing agents, propellants and solvents that help customers lower their carbon footprint.
Honeywell is a globally diversified technology and manufacturing company offering a wide range of products and services. These include control, sensing and security technologies for buildings, homes and industry, turbochargers, automotive products, specialty chemicals, electronic and advanced materials, process technology for refining and petrochemicals as well as energy efficient products and solutions for homes, business and transportation.
Honeywell currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth a look include Noble Group Limited (NOBGY), carrying a Zacks Rank #1 (Strong Buy), United Technologies Corp. (UTX) and ITT Corporation (ITT), carrying a Zacks Rank #2 (Buy).