Honeywell Receives Frost & Sullivan Award for its Expertise in Energy Services
Palo Alto, Calif. — March 21, 2006 — Frost & Sullivan today announced it has selected Honeywell as the recipient of the 2006 Industry Innovation & Advancement Award for its industry-leading approach of integrating supply- and demand-side measures to help its clients save on energy expenses.
The award stems from Frost & Sullivan’s recent analysis of energy services companies (ESCOs) in the U.S. market. The analysis found that the Honeywell processes for developing and delivering programs that reduce energy consumption and related operating costs have been broadly duplicated throughout the industry and continue to set benchmarks for excellence.
“Honeywell not only demonstrates a clear expertise in actual energy services but also possess a keen knowledge and understanding of a shifting and volatile energy landscape,” says Frost & Sullivan research analyst Devin Castleton. “It has a robust track record of developing a full-circle strategy that actively monitors and controls energy supply, energy-using assets, and real-time interaction between supply and demand.”
The company has also developed finance structuring for a vast array of energy-management projects apart from standard performance contracting.
Honeywell Building Solutions (HBS), part of the Honeywell Automation and Controls Solutions business group, has worked extensively with government agencies and departments to achieve critical building and environmental initiatives. This includes the Energy Policy Act of 2005, which requires federal organizations to reduce energy consumption 20 percent from 2003 levels by 2015. These initiatives have helped drive the ESCO industry to unprecedented heights.
HBS has an entire division dedicated to federal government project development and has completed some of the largest and most complex energy-management projects for the Air Force, Army and Department of Energy. For example, the company is in the midst of a massive energy-modernization program with Fort Bragg, the Army post in Fayetteville, N.C. Work at the post has resulted in a significant reduction in energy usage — more than 193 million kWh of electricity, and almost 1 million MMBtu of natural gas and fuel oil to date. The decrease in consumption has translated into $74 million in energy and maintenance savings at Fort Bragg, a current rate of about $15 million per year.
Beyond Fort Bragg, Honeywell has completed more than 4,000 energy-related projects since the early 90s, and delivered more than $3 billion in guaranteed energy and operational savings.
“Frost & Sullivan recognizes Honeywell as a prominent leader in not only innovation and advancement but also as a strong, consistent generator of revenue and growth,” notes Castleton. “Honeywell is expected to achieve further growth and continue on its path of leadership in many spheres.”
Each year, the Innovation & Advancement Award is presented to a company or organization that has proven to be a leader in the industry through its pioneering technology, sound business strategy, superior customer relations and ongoing educational efforts. Its excellence in the field has extended beyond its technical advancements and encompasses a comprehensive view of the customers’ needs resulting in an ongoing improvement in the quality of products and services.
This company’s interrelated services and activities have also been instrumental in creating unique synergies between customers, industry participants, and end users, which has had the effect of expanding the market for all industry participants.
About Frost & Sullivan
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company’s industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit www.frost.com.
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