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TheStreet Open House

Honeywell And Tinker Air Force Base Launch Landmark Efficiency Project

Stocks in this article: HON

MINNEAPOLIS, Oct. 30, 2012 /PRNewswire/ -- Honeywell (NYSE:HON) today announced an $80.6-million energy efficiency project for the U.S. Air Force that will improve operations and cut utility costs at Tinker Air Force Base (AFB) near Oklahoma City, Okla. The project is the Air Force's largest domestic energy retrofit funded through guaranteed savings to date. And, combined with previous Honeywell-led improvements and other on-base initiatives, it will help Tinker meet the mandated 30 percent energy reduction goal defined by Presidential Executive Order 13514. It should also remove Tinker from atop the list of the most energy-intensive Air Force bases.

(Logo: http://photos.prnewswire.com/prnh/20071030/AQTU029LOGO)

The upgrades are expected to save $6.4 million the first year after the work is complete and more than $170 million over 20 years, guaranteed by Honeywell through an energy savings performance contract. The Air Force plans to use the reduction in utility and operating expenses to pay for the project and ongoing maintenance, which Honeywell will also provide. As a result, Tinker AFB should not have to increase its budgets or request additional taxpayer dollars.

The improvements will have a significant impact on energy and water consumption as well, trimming the use of natural gas by almost 27 percent and fresh water by approximately 20 million gallons per year. Annual carbon dioxide emissions are also estimated to decrease by more than 60 million pounds, equivalent to removing 6,100 cars from the road.

In addition, the project will help create and sustain local jobs, with more than 500 Honeywell workers and supporting tradespeople expected on site during peak construction.

"The extraordinary efforts and teamwork between the AFSC Tinker Operational Contracting Branch and the 72nd Civil Engineer Directorate resulted in this seminal contract award, and will ultimately help Tinker gain energy efficiencies by significantly reducing our energy consumption in the winter time," said Colonel Steven J. Bleymaier, 72nd Air Base Wing and Installation Commander, Tinker Air Force Base. "This is exciting and a big milestone towards the many energy challenges and opportunities ahead, especially in the area of industrial processes, which account for 70 percent of Tinker's energy consumption."

Under the contract, Honeywell will oversee hundreds of energy- and water-saving upgrades, and will help maintain and repair the equipment it installs. The company's technicians will decommission three central steam plants and downsize a fourth, removing 56 buildings from the base's steam heat grid. The plants will be replaced by high-efficiency heating equipment at each building, which requires putting in more than four miles of natural gas piping, approximately 130 packaged hot-water and steam boilers, and a variety of infrared and direct-fired gas heaters.

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