Honeywell (NASDAQ: HON) today announced an Emissions Control & Reduction Initiative designed to help customers achieve carbon neutrality in a wide range of areas. The initiative will initially focus on helping oil and gas customers with upstream, midstream and downstream operations to monitor and reduce fugitive methane emissions, which are more than 25 times as potent as carbon dioxide at trapping heat in the atmosphere according to the Environmental Protection Agency.
By combining its portfolio of fixed, portable and personal gas detection solutions with gas cloud imaging cameras, Honeywell will provide customers with early detection of fugitive methane emissions, including the precise location of any leaks and associated data analytics and trends. Equipped with this data, users can act quickly to address leaks and other identified risks to minimize production losses and maintain compliance with legislation.
The solution – which combines wireless gas detector technology with enterprise-wide data management solutions – works in tandem with existing Leak Detection & Repair (LDAR) testing methods to improve the accuracy of reporting and increase productivity by enabling users to find production losses faster.
Honeywell's methane detection capability will be available to customers in Q4 2022.
Honeywell delivers industry-specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable.
HON shares lost $1.93, or 1%, Tuesday to $187.65.
