Honeywell has expanded its smart energy portfolio with the acquisition of three utility platforms from SparkMeter, a provider of grid management products for utilities.

The acquisition includes intellectual property as well as certain related assets from Washington DC-based SparkMeter.

The integration of these grid intelligence technologies enhances Honeywell Forge Performance+ for Utilities, enabling the delivery of scalable, data-driven products designed to modernise grid infrastructure and address the increasing demand for energy.

The platforms Honeywell is acquiring are:

• Praxis, a data platform designed to deliver insights and analytics that help utilities modernise, maximise and monetise their assets.
• GridScan, a software application that provides simple and immediate visibility into the operational performance and health of distribution grids.
• GridFin, a financial management application that analyses and manages energy supply costs, optimises customer rates and improves overall financial performance.

“As the demand for energy continues to grow, utilities are facing new challenges that can impact their ability to quickly and efficiently modernise their infrastructure to meet these needs,” said Amol Motivala, president of Honeywell Smart Energy. “By combining these SparkMeter technologies with Honeywell Forge Performance+ for Utilities, we will be able to provide our customers with advanced tools that automate, simplify and optimise their daily planning, operations and existing grid assets. The expansion of our smart energy portfolio will ensure our customers can navigate changing energy demands efficiently, allowing for more comprehensive data management, business intelligence and analytics functionality for utilities.”

The acquisition of the SparkMeter (www.sparkmeter.io) products follows Honeywell’s announcement of the planned spin-offs of its aerospace technologies and Solstice materials businesses, which will result in three publicly listed companies with distinct strategies and growth drivers.

Since June 2023, Honeywell (www.honeywell.com) has announced a number of actions to drive organic growth and simplify its portfolio, including $14bn of accretive acquisitions: Compressor Controls, ScadaFence, the access business from Carrier Global Civitanavi Systems, CAES Systems, the LNG business from Air Products, Sundyne, Johnson Matthey’s catalyst technologies business and Li-ion Tamer. Honeywell also completed the sale of its personal protective equipment business to Protective Industrial Products in May this year.