Honeywell, Alturus team up on energy storage and distributed assets

July 21, 2021

To provide energy storage as a service (ESaaS), Honeywell and Alturus announced June 17 that they're collaborating to deploy battery-based energy storage systems to users worldwide. Alturus will provide dedicated capital and structuring for Honeywell’s Renewables and Distributed Assets projects.

These projects will be deployed for the commercial and industrial markets under an ESaaSe model that provides an opportunity for energy savings, increased operational efficiency and reduced emissions. Under this turnkey, off-balance sheet approach, customers can achieve electricity bill savings, resiliency and increased sustainability.

For utility-scale projects, the two companies will work together to create a packaged financial and technological solution for project implementers. Alturus will own the assets and will be responsible for financing the storage systems, and Honeywell will provide its industry-leading fully integrated battery energy storage systems and software platform, as well as maximize cost savings and revenues through smart dispatch.

“Battery storage is critical to achieving the decarbonization goals that have been set by the world’s leading governments and corporations," says Charles Esdaile, managing partner and co-founder of Alturus. "Our work together will combine Alturus’ dedicated capital and contract structuring expertise with Honeywell’s industry-leading hardware, software and operational capabilities. As a result, end users will now have a solution that is easy to understand and implement that will dramatically scale the use of this important decarbonization technology worldwide.” 

Eren Ergin, general manager for renewables and distributed assets at Honeywell Process Solutions, adds that: "Our fully integrated energy storage solutions combined with our remote operations platform will make it easier to anticipate and manage facility demand, energy generation and power market needs in today's complex distributed energy ecosystem. Honeywell's advanced control software and performance-based guarantees will help end users improve their energy utilization, optimize operations and revenue streams, mitigate risk and realize significant savings over the entire life of their assets.”