HONEYWELL COLLABORATES WITH THE GREEN SOLUTIONS CORPORATION FOR VIETNAM’S FIRST GREEN HYDROGEN MANUFACTURING PLANT

HANOI, Vietnam, Feb. 21, 2024 /PRNewswire/ — Honeywell announced that it has signed a Memorandum of Understanding (MoU) with The Green Solutions Group Corporation (TGS) on the Tra Vinh Green Hydrogen project, Vietnam's first green hydrogen plant in the Mekong Delta.

Honeywell Battery Energy Storage System helps decrease costs and carbon emissions while providing grid stability from renewable power sources, enabling the production of green hydrogen at the Tra Vinh green hydrogen plant.

Honeywell will bring to the project its ready now technologies such as project automation design and management, and energy management for energy transition, including battery energy storage systems (BESS), to enable TGS to integrate renewable energy sources into the green hydrogen plant.

Witnessed by the Prime Minister of Vietnam, Pham Minh Chinh, the MoU signing took place in November 2023 at the COP28 United Nations Climate Change Conference in Dubai, United Arab Emirates.

"Honeywell's battery energy storage system will play a key enabling role in the Tra Vinh Green Hydrogen project," said Ramanathan Valliyappan, Regional General Manager of Honeywell Process Solutions. "It will extend renewable energy from TGS's solar farms beyond sunlight time as well as extend wind power when the winds are calm. Honeywell's BESS platform helps decrease costs and carbon emissions by providing grid stability from renewable power sources, thus enabling the production of green hydrogen at the Tra Vinh plant."

In addition to BESS, Honeywell will provide extensive solutions and expertise covering the entire hydrogen value chain to help TGS operate safely, profitably, and meet its renewable energy production goals.

"Our collaboration marks a critical step toward the production of green hydrogen at the Tra Vinh plant," said Huynh Thi Kim Quyen, Managing Director of TGS. "The Tra Vinh Green Hydrogen Project is a major landmark for our company and a significant milestone toward realizing our national goal of decarbonizing the energy sector with renewable energy solutions, contributing to a cleaner and more sustainable future."

Vietnam pledged to become net zero by 2050. By some estimates, it is one of the top five countries likely to be most affected by climate change, with possible severe social and economic risks.[i] The country has high solar and wind power potential, especially in the Mekong Delta region, where the Tra Vinh plant is located.

Honeywell is committed to achieving carbon neutrality in its operations and facilities by 2035. This commitment builds on decades-long history of innovation to help its customers meet their environmental and social goals. About 60% of Honeywell's 2022 new product introduction research and development investment was directed toward ESG-oriented outcomes for customers.[ii]

About Honeywell

Honeywell is an integrated operating company serving a broad range of industries and geographies around the world. Our business is aligned with three powerful megatrends – automation, the future of aviation and energy transition – underpinned by our Honeywell Accelerator operating system and Honeywell Connected Enterprise integrated software platform. As a trusted partner, we help organizations solve the world's toughest, most complex challenges, providing actionable solutions and innovations that help make the world smarter, safer and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom

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