Honeywell Invests In Energy-As-A-Service Provider Redaptive - What's On The Cards? - Honeywell Intl (NASDAQ:HON)

Honeywell International Inc HON plans to make a strategic investment in Redaptive, an Energy-as-a-Service (EaaS) provider that funds and installs energy-saving and energy-generating equipment.
The financial terms of the investment were not disclosed. The investment will accelerate a collaboration to bring EaaS capabilities to private sector-owned commercial and industrial buildings.
Redaptive was founded in 2015 and is headquartered in San Francisco, California.
The partnership combines Honeywell's experience in energy savings performance contracting (ESPC) and building controls capabilities with Redaptive's data technology and EaaS platform.
It also offers accelerated technology deployment to upgrade existing building infrastructure, support capabilities such as on-site renewable energy assets, and deploy advanced controls software.
As part of the collaboration, Honeywell will deploy the Redaptive platform in its own facilities.
"Our work with Redaptive will enable us to help more commercial buildings deploy energy conservation projects with innovative capital deployment models and efficiently deliver asset-level analytical insights," said Del Misenheimer, president of Honeywell Building Solutions.
Price Action: HON shares closed lower by 0.04% at $187.92 on Tuesday.

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Honeywell Invests In Energy-As-A-Service Provider Redaptive - What's On The Cards?