Honeywell Enters Supply Agreement With EnergyHub, Expands Industry-Leading Consumer Smart Grid Portfolio

Honeywell Home Energy Manager Helps Homeowners Reap the Benefits of the Smart Grid Now

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Oct 19, 2010, 09:00 ET

MINNEAPOLIS, Oct. 19 /PRNewswire/ -- Honeywell (NYSE: HON) today announced a supply agreement with EnergyHub, a leading home energy solutions provider. Honeywell will integrate EnergyHub's technology into its energy management product portfolio, providing consumers with the industry's most robust set of tools to simplify their management of energy and control costs in the home.

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"The smart grid represents a new era in which customers will pay the actual cost of the energy they consume. This presents a challenge for consumers to better manage their consumption and control their energy costs," said Joseph Puishys, president, Environmental and Combustion Controls, Honeywell. "The Honeywell Home Energy Manager will complement our existing product line and improve consumers' visibility and control over the cost and comfort of the utilities within the home."

The Honeywell Home Energy Manager provides real-time meter reads, energy usage, cost and trending data as well as load measurement, load control, remote access, and real time connection to utility control systems. These products, combined with existing Honeywell smart grid products, will provide consumers the ability to monitor and manage their utility usage in real time, enabling total control over comfort and cost savings.

"Honeywell is a proven leader in residential smart grid products and services for utilities, and we're pleased to be working together so closely," said Seth Frader-Thompson, CEO of EnergyHub.

Honeywell is a global leader in energy efficiency, with control technology in more than 150 million homes, 10 million buildings and thousands of industrial plants around the world. In addition to a full-line of home comfort products available through HVAC professionals and retail outlets, Honeywell also works directly with utilities to design, market and implement demand response programs, which help limit energy consumption when the demand for electricity is at its highest. The company has installed more than 1 million load control devices to date, including the Honeywell UtilityPRO® thermostat. And this has given utilities combined control of more than 1 gigawatt of peak consumption — equivalent to the generation capacity of approximately 20 gas-fired peaking plants.

To learn more about the various energy-saving Honeywell products for the home, visit http://www.yourhome.honeywell.com.

Honeywell International (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; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell's shares are traded on the New York, London, and Chicago Stock Exchanges. For more news and information on Honeywell, please visit www.honeywellnow.com. Honeywell Environmental & Combustion Control is part of the Honeywell Automation and Control Solutions business group, providing integrated product solutions in heating and heating processes, ventilation, cooling and refrigeration, air filtration, zoning, humidification, air conditioning, water controls and processes, electrical devices and systems, lighting control, buildings controls, switches, sensors and controllers. ECC's technologies are found in more than 150 million homes, 10 million buildings, and a multitude of manufacturing plants around the world.

EnergyHub (www.energyhub.com) is Bringing the Smart Grid Home by helping homeowners to reduce energy consumption and save money. With the in-home dashboard at its center, the EnergyHub system allows homeowners to understand full-home energy use in real time while taking control right down to the appliance level. Tie devices to three simple settings (home, away, goodnight) and automate your heating and cooling with ease. Users can also control it all on the web or mobile devices through MyHub. The EnergyHub system is in pilots with utilities today and is flexible with evolving Smart Grid metering plans. Together with utilities, the system can help to reduce peak power loads on hot summer days while encouraging customers to become more efficient all year.

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.

SOURCE Honeywell