BEIJING, July 8, 2014 /PRNewswire/ -- Honeywell (NYSE: HON) announced today that it will help reduce the climate impact of refrigerators and freezers in China under a grant agreement signed today between the U.S. Trade and Development Agency (USTDA) and Midea, a leading China-based manufacturer of home appliances.
The project will focus on Honeywell Solstice ® Liquid Blowing Agent (LBA), which allows appliance insulation to expand and provides the majority of the resulting foam's excellent insulating properties. Solstice LBA has a global warming potential of 1, which is 99.9 percent lower than the hydrofluorocarbons (HFCs) it often replaces. It also offers improved insulating performance when compared to those HFCs. Solstice LBA is nonflammable and is not a volatile organic compound, unlike cyclopentane, an alternative blowing agent. Honeywell will partner will Midea to further develop the application technology of Solstice LBA for energy-efficient refrigerators in China.
"We are honored to be part of this exciting program, which will help improve the environmental profile of refrigerators sold in China," said Ken Gayer, vice president and general manager of Honeywell's Fluorine Products business. "Honeywell is the leader in the development of low-global-warming-potential blowing agents, refrigerants, aerosols and solvents, and we are uniquely positioned to help manufacturers like Midea achieve their energy-efficiency goals."
"Midea is a leader in the manufacture of energy-efficient appliances, and this grant will enable us to more quickly adopt technologies such as Solstice LBA," said Suk Sangjo, vice president of Midea's refrigeration division. "Solstice LBA can enable us to maintain the high energy-efficiency of our refrigerators while reducing their carbon footprint."Honeywell made the announcement at the sixth meeting of the U.S.-China Strategic and Economic Dialogue, which was established by U.S. President Barack Obama and former China President Hu Jintao. The meeting represents the highest-level bilateral forum to discuss a broad range of issues between the two nations. "USTDA is committed to forming partnerships between the U.S. and China to mitigate the effects of global climate change," said USTDA Director Leocadia I. Zak. "This project will benefit the economies of both nations, while improving the environmental footprint of appliances in China." In addition to Solstice LBA, Honeywell's family of Solstice-branded products includes stationary and mobile refrigerants, gaseous blowing agents, propellants, and solvents based on Honeywell's new hydrofluoro-olefin technology that helps customers lower their carbon footprint without sacrificing end-product performance. The Solstice products have been developed and are being commercialized by Honeywell's Fluorine Products business, a leader in the manufacture and supply of zero ozone-depleting refrigerants used by top air-conditioning and refrigeration makers worldwide, and blowing agents for energy-efficient foam insulation, as well as hydrofluoric acid and precursors for nuclear fuel.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV