Honeywell, a tech and electronics manufacturing giant based in Charlotte, has reached a $2.4 billion agreement to acquire the catalyst technologies business of London-based Johnson Matthey. This acquisition, expected to be completed in the first half of the following year pending regulatory approvals, aims to expand Honeywell's energy and sustainability business segment. Johnson Matthey's catalyst unit designs and manufactures catalysts for automotive, energy, and chemical industries to remove pollutants and enhance industrial process efficiency. The deal will allow Honeywell to provide customers with comprehensive solutions for producing lower emission fuels such as sustainable methanol, sustainable aviation fuel, blue hydrogen, and blue ammonia, contributing to energy security and emission reduction. Honeywell CEO Vimal Kapur sees this move as enabling the company to offer the necessary innovation to meet the accelerating demand for various energy sources. Honeywell's recent restructuring strategy includes spinning off automation and aerospace tech businesses, with plans to create three independent, publicly-traded companies. The company has been active in acquisitions, with $11 billion deals closed since December 2023, and has also announced the sale of its Personal Protective Equipment business. These strategic moves align with Honeywell's goal to adapt to evolving market demands and enhance its position in the energy and sustainability sectors.