Financial Release

CHARLOTTE, N.C., Dec. 16, 2019 /PRNewswire/ -- Honeywell (NYSE: HON) today announced that it has acquired Rebellion Photonics, a Houston-based provider of innovative, intelligent, visual gas monitoring solutions that maximize safety, operational performance, emissions mitigation and compliance in the oil and gas, petrochemical and power industries.

Rebellion's self-calibrating technology offers a cost-effective monitoring solution by reducing the need to install, maintain and calibrate sensors throughout a site. Its customers include some of the world's largest oil and gas, petrochemical and power companies, and its solutions are deployed at refineries, oil rigs, offshore platforms, pipelines and power plants.

The acquisition will become part of Honeywell's Safety and Productivity Solutions business, which provides a wide range of gas detection technologies, safety gear, mobility solutions and software to help workers stay safe and productive. Rebellion's technology will also be deployed through Honeywell's Performance Materials and Technologies business to help process manufacturing customers improve safety and compliance.

"To rapidly respond to a gas leak and keep their facilities safe, oil and gas, petrochemical and power companies are deploying Rebellion Photonics' next generation visual monitoring technology powered by machine learning," said John Waldron, president and CEO of Honeywell Safety and Productivity Solutions. "This acquisition complements Honeywell's strong portfolio of process technologies, automation and gas detection solutions and accelerates our transformation to a software-industrial company. Rebellion's employees share our mission of helping keep workers healthy and safe on the job while reducing the environmental impacts of gas emissions."

"Honeywell is an amazing company and a recognized leader in our industry. We are excited to be part of their world-class family," said Robert Kester, CEO of Rebellion Photonics. "Automated visual monitoring is the future of gas leak detection. Combining our products with Honeywell's platform will make this the new industry standard for safety and environmental monitoring globally."

Founded in 2009, Rebellion provides a patented gas cloud imaging system that incorporates cameras and proprietary hyperspectral imaging technology to pinpoint the source of a leak and measure the volume and concentration of gases. The company also provides real-time fire detection and intrusion and surveillance monitoring solutions to keep plants and facilities safe.

Honeywell has more than 60 years of experience in delivering fixed and portable gas detection solutions for industrial, commercial and governmental applications where people can be exposed to toxic or flammable gases. These gas detection solutions can be deployed where workers enter confined spaces or in challenging environments, such as cold storage plants and offshore oil production facilities.

Terms of the deal were not disclosed, and there is no change to the company's 2019 financial guidance as a result of the acquisition.

Honeywell Safety and Productivity Solutions (SPS) provides products, software and connected solutions that improve productivity, workplace safety and asset performance for our customers across the globe. We deliver on this promise through industry-leading mobile devices, software, cloud technology and automation solutions, the broadest range of personal protective equipment and gas detection technology, and custom-engineered sensors, switches and controls.

Honeywell (http://www.honeywell.com) is a Fortune 100 technology company that delivers industry-specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.

This release contains certain statements that may be deemed "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.

View original content to download multimedia:http://www.prnewswire.com/news-releases/honeywell-acquires-rebellion-photonics-a-leader-in-intelligent-automated-visual-gas-monitoring-solutions-300975311.html

SOURCE Honeywell