Honeywell acquires battery safety solution Li-ion Tamer

Honeywell (HON) has acquired from Nexceris its Li-ion Tamer business, an off-gas detection solution for lithium-ion batteries that detects thermal runaway events. The acquisition enhances Honeywell’s portfolio of fire life safety technologies within its Building Automation segment. The transaction is expected to be immediately accretive to Honeywell’s financials. Demand for li-ion batteries is expected to grow by over 30% annually through 2030 to greater than $400B; battery safety solutions are believed to be increasingly critical for sectors ranging from renewable energy to cloud computing. This acquisition follows Honeywell’s announcement of the planned spin-offs of its Aerospace Technologies and Solstice Advanced Materials businesses.