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Honeywell: acquires Hud Systems from Saab
(CercleFinance.com) - Honeywell announced on Monday the signing of a strategic partnership with ESS Tech, designed to accelerate the development and adoption of energy storage systems for iron flux battery (IFB) technology.
As part of the agreement, the diversified US industrial conglomerate plans to invest an undisclosed amount in ESS. In a joint press release, the companies state that they intend to draw on Honeywell's expertise in advanced materials and energy systems, as well as on ESS's intellectual property, which owns the patent for the IFB technology. According to a recent McKinsey study, the global energy storage market is expected to be worth almost $3 trillion by 2040, compared with around $50bn a year today. Copyright (c) 2023 CercleFinance.com. All rights reserved. |
30/05/2025 18:02
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