US-based industrial technology firm, Honeywell, has announced its agreement to acquire the UK chemicals-and-technology business Johnson Matthey’s Catalyst Technologies segment for £1.8bn ($2.4bn). This move aims to further Honeywell's presence in the hydrogen, ammonia, and sustainable aviation fuel sectors. The acquisition, expected to be completed in the first half of 2026, aligns with Honeywell's UOP unit, strengthening its capabilities in producing lower-emission fuels. Through this deal, Honeywell will expand its solutions portfolio to include sustainable methanol, SAF, blue hydrogen, and blue ammonia. The company's Chairman and CEO, Vimal Kapur, emphasized the strategic value of this acquisition in meeting the rising demand for diverse energy sources and driving innovation for customers. This acquisition is part of Honeywell's broader restructuring strategy, which involves divesting its Aerospace Technologies and Advanced Materials divisions and reshaping the business for vertical integration. Honeywell's recent investments, totaling around $11bn since December 2023, demonstrate a concerted effort to enhance its market presence and technological advancements. The acquisition of Johnson Matthey's Catalyst Technologies business will not only contribute to Honeywell's earnings in its first year but also enable the UK firm to refocus on its remaining core divisions, including platinum group metals processing. Overall, Honeywell's acquisition signifies a positive step towards expanding its energy solutions portfolio and positioning itself as a leading technology provider in the evolving energy landscape.