In an interview, Modi stated Honeywell lately restructured its operations into three segments: automation, aviation and power transition. Battery storage and inexperienced hydrogen shall be key areas of speedy focus in power transition, he added.

“We are all the time open to inorganic alternatives that bolster our technique. Like we stated, an announcement got here out for the automation area. I feel, power transition is most evident one (for acquisitions) as there are too many shifting elements, and never one participant can remedy the problem or the equation. So, you want extra assist.”

On 11 December, the agency acquired Carrier Global Corp.’s world entry options enterprise. In aviation, Honeywell works in partnership for particular applied sciences reminiscent of unmanned aerial automobiles, however in power transition, he stated there are ample alternatives for inorganic progress and acquisitions of newer applied sciences. “The power transition facet is up for grabs. Already you already know persons are grappling with it…”

The firm is focussing on battery administration methods (BMS) and a inexperienced hydrogen ecosystem. “Our participation in battery is thru a few locations. One is we name BESS, battery power storage system, so we don’t precisely manufacture batteries. But we might put collectively grid scale battery storage system. In which you’re taking the battery, you place the management system round it, you arrange the security system round it. You construct the software program in order that it interacts with the grid. You put the entire thing collectively.”

The firm additionally presents applied sciences for battery security and manufactures aerosol sensors, which assist in early detection of smoke and thermal runaway. “EV is certainly rising and we promote a number of sensors for EVs.”

The firm produces catalyst-coated membranes for electrolyzers utilizing proton change membrane expertise, to acter to inexperienced hydrogen sector. However, he identified that the demand for inexperienced hydrogen remains to be selecting up. “We work on inexperienced hydrogen, which is getting an enormous push from the federal government. There’s coverage that got here by means of the nationwide inexperienced hydrogen mission. In inexperienced hydrogen we’re seeing progress. Lot of initiatives have been introduced. People are beginning the crops, however haven’t began procuring massive time for it. They are nonetheless within the planning design part,” Modi stated.

In January, the Union Cabinet sanctioned the ₹19,000 crore National Green Hydrogen Mission. The Centre has acquired bids from numerous gamers, signalling the launch of the inexperienced hydrogen initiatives in India.

Apart from battery power storage methods and inexperienced hydrogen, one other key space for the corporate is sustainable aviation gasoline (SAF). It is working with refineries to develop SAF. “At 1-2% mixing of SAF, the fee shall be very negligible. We are working with them (refineries). They will put up the crops and we are going to present expertise. So, we’re working with them on the economics of it. The work earlier than really placing the plant is as a result of it requires capex they usually must do it. We already work with them as we’re an enormous participant in refining petrochemicals. So, we clearly work on many applied sciences…that is now changing into the centre piece of discussions.”

Modi additionally highlighted Honeywell’s presence in carbon seize, utilization, and storage (CCUS). However, the sector has not gained momentum in India as a result of low demand, he stated, emphasizing the necessity for presidency incentive to stimulate CCUS progress.

“The demand seen in India is as a result of it’s very pricey. Unless there may be some type of incentive or a disincentive, both by the use of carbon tax, or a carbon incentive, there won’t be the required demand for CCUS,” he added.