Honeywell (HON) and NXP Semiconductors (NXPI) announced at CES 2024 that they have signed a Memorandum of Understanding, or MOU, to help optimize the way commercial buildings sense and securely control energy consumption. According to the International Energy Agency, or IEA, buildings’ operations contribute to 30% of global final energy consumption and 26% of global energy-related emissions, so decisions made today will significantly impact future energy use and potential savings. Today’s smart energy solutions increasingly leverage machine learning and data analytics to enhance buildings’ autonomy and energy efficiency. The collaboration aims to help make buildings operate more intelligently by integrating NXP Semiconductors’ neural network-enabled, industrial-grade applications processors into Honeywell’s building management systems. The MOU will initially focus on the Honeywell Optimizer Suite, which offers a flexible, more future-proofed building control and automation platform.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on HON:
- Honeywell and Analog Devices partner in digitization of commercial buildings
- Honeywell price target raised to $225 from $212 at Barclays
- Ansys takeover price of $400 per share ‘in play,’ says Oppenheimer
- Honeywell price target lowered to $250 from $265 at BofA
- M & A News: Honeywell Snaps Up Carrier’s Global Access Solutions Business for $4.95B
