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Honeywell has acquired three utility platforms from SparkMeter, expanding its Smart Energy portfolio.
Honeywell, a diversified tech and manufacturing company, announced the acquisition of the solutions from SparkMeter, which provides grid management solutions for utilities.
The acquisition, an amount for which has not been disclosed, includes intellectual property, as well as certain related assets from SparkMeter.
The integration of these grid intelligence technologies from SparkMeter enhances Honeywell Forge Performance+ for Utilities, says Honeywell in a release, enabling the delivery of solutions designed to modernise grid infrastructure and address the increasing demand for energy.
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Commenting in a release was Amol Motivala, president, Honeywell Smart Energy: “As the demand for energy continues to grow, utilities are facing new challenges that can impact their ability to quickly and efficiently modernize their infrastructure to meet these needs.”
According to Motivala, the acquisition will boost Honeywell’s Forge Performance+ for Utilities offering, adding advanced tools to enhance planning, operations and existing grid assets.
Said Motivala: “The expansion of our smart energy portfolio will ensure our customers can navigate changing energy demands efficiently – allowing for more comprehensive data management, business intelligence and analytics functionality for utilities.”
Specifically, the platforms Honeywell is acquiring include:
- Praxis, a data platform designed to deliver insights and analytics that help utilities modernise, maximise, and monetise their assets.
- GridScan, a software application that provides simple and immediate visibility into the operational performance and health of distribution grids.
- GridFin, a financial management application that analyses and manages energy supply costs, optimises customer rates, and improves overall financial performance.
The acquisition follows Honeywell’s announcement of the planned spin-offs of its Aerospace Technologies and Solstice Advanced Materials businesses, which will result in three publicly listed industry leaders with distinct strategies and growth drivers.
Since June 2023, Honeywell has also announced a number of strategic actions to drive growth and simplify its portfolio, including $14 billion across several acquisitions, including Compressor Controls Corporation, SCADAfence, the Access Solutions business from Carrier Global, Civitanavi Systems, CAES Systems, the LNG business from Air Products, Sundyne, Johnson Matthey’s Catalyst Technologies Business and Li-ion Tamer.
