HONEYWELL AND MIT FIND DIGITAL TECHNOLOGIES CAN HELP INCREASE ENERGY SUPPLY, REDUCE ENERGY PRODUCTION COST BY TENS OF BILLIONS ANNUALLY

Honeywell analysis and MIT Center for Sustainability Science and Strategy modeling project annual savings of up to $225 billion in production costs for oil-based fuels, $80 billion in LNG alone, by 2050, using AI-enabled technologies

CHARLOTTE, N.C., June 24, 2026 /PRNewswire/ -- Honeywell (NASDAQ: HON), in collaboration with the MIT Center for Sustainability Science and Strategy, today released new research titled Accelerating Energy Expansion, which shows that digital and AI-enabled technologies can significantly reduce the cost of fuel production annually, citing applications across traditional oil-based fuels and LNG.

The report addresses three focus areas and the supporting policies needed to help achieve energy security and affordability: increasing energy supply, efficiently managing demand, and diversifying energy resources and feedstocks.

"Meeting the world's growing energy needs will require both investment in new technologies to broaden feedstock options and more efficient use of today's energy infrastructure," said Ken West, President and CEO of Honeywell Process Technology. "Honeywell is helping customers apply AI, automation, digital and connected solutions to help get more out of their existing assets while also increasing reliability and throughput. The MIT analysis highlights the significant cost-reduction opportunities AI-enabled technologies can unlock in fuel production, which is top of mind for consumers and policymakers alike as we navigate increasingly complex geopolitical dynamics."

"Energy demand is rising quickly, and many organizations are looking for practical ways to add power without waiting years for new generation to come online," said Jim Masso, President and CEO of Honeywell Process Automation. "On-site power generation and energy storage can help operators add capacity where it's needed most, helping to support the growing demands of AI infrastructure and reduce reliance on already stretched grids. As a result, this enables them to scale more quickly and efficiently."

Based on Honeywell analysis and modeling by the MIT Center for Sustainability Science and Strategy, key themes and findings revealed through the research include:

Digital Technologies, Including AI, Help Increase Energy Supply and Reduce Production Costs

Scaling Power for a New Era of Energy Demand Begins with Improving Existing Infrastructure

Achieving Regional Energy Security by Diversifying Energy Resources with Alternative Fuels

The Accelerating Energy Expansion report was released at Honeywell's 2026 Future of Energy Summit, an annual event that brings together industry leaders, policymakers and technology experts to discuss strategies for strengthening energy security, affordability and competitiveness while meeting growing global energy demand.

About Honeywell
Honeywell is an integrated operating company serving a broad range of industries and geographies around the world, with a portfolio that is underpinned by our Honeywell Accelerator operating system and Honeywell Forge platform. As a trusted partner, we help organizations solve the world's toughest, most complex challenges, providing actionable solutions and innovations for aerospace, building automation, industrial automation, process automation, and process technology, that help make the world smarter and safer as well as more secure and sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.

Media Contact:
Melissa Volin
1-980-502-9330
melissa.volin@honeywell.com

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SOURCE Honeywell