Honeywell (NYSE:HON) announced yesterday afternoon an agreement with the Tianjin Economic-Technological Development Area to implement China's first Smart Grid Demand Response project. State Grid Electric Power Research Institute selected Honeywell to develop the project in February.
The agreement also represents the official launch of the Demand Response System Pilot jointly sponsored by the United States and Chinese governments. Under the agreement, Honeywell will conduct a demonstration project using its automated demand response technology at select facilities within the development area, including government and commercial facilities, and industrial plants.
"Cutting demand and consumption is the cheapest and cleanest source of energy, and this project will create the bridge between the utility and its customers to make 'using less' easy and automatic," said Stephen Shang, president of Honeywell China. "With the unique combination of advanced technology and energy experience and expertise from Honeywell, I am sure this demonstration project will not only bring economic benefits to TEDA, but will support the development of relevant standards and regulations for the broader deployment of smart grid solutions in China."
Honeywell International (NYSE:HON) has potential upside of 10.1% based on a current price of $56.16 and an average consensus analyst price target of $61.84.
Honeywell International is currently above its 50-day moving average (MA) of $53.54 and above its 200-day of $53.42.
In the last five trading sessions, the 50-day MA has climbed 0.42% while the 200-day MA has remained constant.
Honeywell International Inc. is a diversified technology and manufacturing company with operations around the world. The Company provides aerospace products and services, control technologies, automotive products, and power generation systems. Honeywell also provides specialty chemicals, fibers, plastics, and electronic and advanced materials.
