Honeywell Technology Helps Set Ground-Breaking Energy Efficiency Standards in Cold Storage

CHARLOTTE, N.C., April 17, 2024 – Honeywell (Nasdaq: HON) today announced that Honeywell’s Solstice ze refrigerant has enabled Q-REF's KIBO chiller to be 46% more energy efficient compared to traditional ammonia-powered solutions.¹ The collaboration with Q-REF supports Honeywell’s recently announced plans to align its portfolio around three compelling megatrends, including the energy transition.

As cold storage capacity needs rise in Europe and across the world, so does the need for energy since power costs account for 50 to 70% of the spending for cold storage and logistics.² For many retailers and food producers, cold storage has a large impact on Scope 3 emissions and the use of more energy-efficient technologies can help them reach their decarbonization goals.

“Because of Honeywell Solstice, our KIBO chiller, powered by Danfoss Turbocor’s compressor technology, is reaching never before seen energy efficiency levels in the cold storage industry,” said Benoit Duparc, CEO of Q-REF. “KIBO is now able to save nearly 20% in maintenance operations, while being 30% smaller and lighter than traditional ammonia chillers we otherwise would have had to use.”

In 2019, the European Union announced Fit for 55 as part of its European Green Deal strategy, adopting an “energy efficiency first” principle - with a goal to reduce greenhouse gas emissions by 55% by 2030. Honeywell Solstice technology helps Q-REF’s customers contribute to Europe's ambitious emissions targets, while complying with the newest revision of the F-Gas regulation.

“As the shift to low global warming potential refrigerants continues, Honeywell is accelerating innovation to create responsible replacements that lower carbon footprints, improving energy efficiency, safety and performance,” said Julien Soulet, vice president and general manager of Honeywell Advanced Materials in EMEA. “Honeywell Solstice technology supports manufacturers like Q-REF in developing efficient chillers to meet Europe's increasing regulatory targets around energy consumption."

Honeywell has invested more than $1 billion in research, development and the creation of new capacity for its Solstice technology, which currently has applications in refrigerants, blowing agents, aerosols and solvents, and is also being evaluated for expanded use in metered dose inhalers. Since its introduction in 2011, the use of Honeywell Solstice technology has helped avoid the potential release of the equivalent of more than 326 million metric tons of carbon dioxide into the atmosphere or the carbon emissions from nearly 70 million gasoline-powered passenger vehicles per year.³

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 Connected Enterprise integrated software 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, safer and more sustainable.  For more news and information on Honeywell, please visit www.honeywell.com/newsroom.

_{¹ Performance comparison turbo cooling unit vs NH3 Unit. Optinergie, April 2023.}

_{² Based on a recent study in the United Kingdom, cold storage is estimated to generate in the meantime over 6% of total emissions for energy consumption by refrigeration in the food chain (Foster et al., 2022: Baseline Refrigeration Emissions in the UK, London South Bank University).}

_{³ Calculations are based on actual sales of Solstice products (in lbs) from Jan 2010 through Dec 2022 and utilize the EPA GHG equivalency calculator for conversion.}