Physical AI platform combines deep industrial expertise and automation to unlock greater plant performance

BENGALURU, India, October 27, 2026 — Honeywell Technologies (NASDAQ: HON) has announced the launch of Forge Plant Cognition, an industrial AI platform built with NVIDIA AI and accelerated computing capabilities, and Dell Technologies’ AI infrastructure. The platform is designed to help refining, petrochemical and Liquefied Natural Gas (LNG) operators generate greater value from their existing assets and transform plant operations.

Launching first at Dangote’s petroleum refinery in Lekki, Nigeria – one of the world’s largest single train refineries – the project is targeting an increase in throughput while strengthening the capabilities of its local engineering and operations teams. Based on preliminary data, Honeywell Technologies estimates that AI-enabled optimization with Forge Plant Cognition could deliver operational benefit[1] of more than 29 cents a barrel at the Lekki Refinery. At full-capacity throughput, this would generate more than $60 million in gross benefit per year for this specific facility.[2]

“Industrial plants are among the most complex operating environments in the world, with enormous potential to realize greater performance and value using digital technologies and connected solutions,” said Rajesh Gattupalli, President, Honeywell Technologies UOP. “By collaborating with Dangote to launch Forge Plant Cognition, we are demonstrating how AI can help transform industrial operations, driving new levels of productivity, reliability and profitability at significant scale.”

Built on Honeywell Technologies’ recently launched Forge Cognition platform, the new solution combines process technology expertise, industrial automation and AI capabilities to help operators identify performance constraints, anticipate problems and translate insights into actions that improve operational outcomes. Unlike conventional AI solutions that primarily analyze data and generate recommendations, Forge Plant Cognition is designed to move beyond simply monitoring and responding by combining real-time operating data, engineering knowledge and Honeywell Technologies UOP’s deep process expertise with trusted calculations and physics-based models.

Forge Plant Cognition is designed to help deliver value across three critical areas:

1. Capture hidden margin: Identify bottlenecks and help optimize throughput, yield and product value across interconnected processes.
2. Protect production: Detect emerging equipment and process issues, recommend corrective actions and help minimize unplanned downtime.
3. Scale industrial expertise: Embed specialized process knowledge into AI-powered workflows, helping operators and engineers make faster, more consistent decisions.

With more than a century of experience designing and operating refineries, Honeywell Technologies UOP has a deep understanding of how even the smallest changes in operating conditions can impact efficiency and throughput. Specialized AI capabilities are designed to use integrated intelligence based on this information to identify operational constraints and recommend actions to improve plant performance.

The platform is powered by Dell AI Factory with NVIDIA and supported by Dell Services. NVIDIA Nemotron open models power agents that understand and interpret operational data, while NVIDIA Omniverse libraries help create a digital twin of the plant and its processes for simulation-based training and planning. Additionally, NVIDIA Cosmos open models with the NVIDIA Metropolis VSS Blueprint enable vision AI agents for real-time alerts and detection of anomalies. NVIDIA PhysicsNemo framework is used for building, training, and fine-tuning efficient and performant physics AI models at scale to realize innovative digital twin integrated agile plant optimization workflows.

Driving Expanded Value with Dangote

Dangote Petroleum Refinery in Lekki, Nigeria, one of the world’s largest single-train refineries, will integrate its operating data with Honeywell Technologies’ process expertise and AI-powered optimization capabilities to help identify operational constraints, accelerate troubleshooting and enable more informed decisions.

“We chose Honeywell Technologies’ Forge Plant Cognition because the platform can deliver unrivaled industrial expertise combined with differentiated AI capabilities to help us optimize performance, unlock greater value from our operations and evolve how we operate our assets,” said David Bird, CEO and Managing Director, Dangote Petroleum Refinery and Petrochemicals FZE. “This investment reinforces our commitment to operational excellence, advancing technology and developing Nigerian talent to operate at world-class standards.”

Beyond operational performance, Forge Plant Cognition will support Dangote’s commitment to developing a highly skilled local workforce. By embedding specialized process knowledge into AI powered tools, the platform will help engineers and operators access expert guidance, accelerate problem-solving and build technical capabilities. As Dangote expands its workforce, these capabilities will support its goal of developing a workforce that is 70% Nigerian, reducing reliance on external expertise over time.

Building on nearly a decade of collaboration, the two companies recently announced that Honeywell Technologies is helping the refinery increase its capacity from 650,000 to 1.4 million barrels per day within three years, by optimizing existing assets and speeding up market delivery.

BENGALURU, India, June 29, 2026 – Honeywell Technologies (NASDAQ:  HON) today announced it has completed the previously announced spin-off of its Aerospace Technologies business, which now operates as Honeywell Aerospace. Honeywell Technologies will continue to trade “regular way” on the Nasdaq Stock Market LLC (“Nasdaq”) under the ticker symbol “HON,” and shares of Honeywell Aerospace common stock will begin trading “regular way” on Nasdaq under the ticker symbol “HONA,” effective at the market opening today.

“Today is a defining moment in Honeywell’s legacy,” said Vimal Kapur, Chairman and CEO of Honeywell Technologies. “With the completion of this separation, we have successfully transformed Honeywell into three independent, industry-leading companies: Honeywell Technologies, Honeywell Aerospace and Solstice Advanced Materials. Each company is built around a distinct strategy with greater focus and financial flexibility to pursue a long-term growth agenda.”

Kapur added, “This milestone is the culmination of years of disciplined execution and marks the conclusion of the portfolio transformation we began in 2023. As standalone companies, Honeywell Technologies and Honeywell Aerospace are uniquely positioned to accelerate innovation, invest with greater precision and capitalize on the value creation opportunities in our respective industries. We are confident each company is strongly positioned to create enduring value for decades to come.”

Honeywell Technologies is now uniquely positioned to lead the industrial sector’s transition from automation to autonomy with a portfolio that spans the building, process and industrial sectors. By pairing its deep domain expertise with decades of data from its vast global installed base, Honeywell Technologies is delivering mission-critical outcomes for customers through services, solutions and products that enable safety, productivity, efficiency and uptime.

The spin-off was completed through the distribution, effective as of today at 12:01 a.m. New York City time, of all of the issued and outstanding shares of Honeywell Aerospace common stock to Honeywell Technologies shareowners of record on the basis of one share of Honeywell Aerospace common stock for every two shares of Honeywell Technologies common stock held as of the close of business on June 15, 2026, the record date for the distribution.  Honeywell Technologies shareowners of record will receive cash in lieu of any fractional shares to which they would otherwise be entitled.

Information on the spin-off and prior transactions can be found in the “About Our Spin-offs” section of Honeywell Technologies’ investor relations website at investor.honeywell.com.

Reverse Stock Split

Honeywell Technologies also announced today that it has completed the previously announced reverse stock split of Honeywell Technologies common stock at a ratio of 1-for-2 and a proportionate reduction in the number of authorized shares of Honeywell Technologies common stock.

Honeywell Technologies common stock will begin trading on a split-adjusted basis effective at the market opening today and will continue trading on Nasdaq under the symbol “HON”, with a new CUSIP number (438516205).

As a result of the reverse stock split, every two shares of Honeywell Technologies common stock issued and outstanding or held by Honeywell Technologies as treasury shares were automatically combined into one share of Honeywell Technologies common stock. This reduced the number of issued and outstanding shares of Honeywell Technologies common stock from approximately 634 million as of March 31, 2026 to approximately 317 million. Concurrently with the reverse stock split, the number of shares of Honeywell Technologies common stock authorized for issuance was also reduced from 2 billion to 1 billion. The par value of Honeywell Technologies common stock did not change. Outstanding Honeywell Technologies equity-based awards and shares or share units under Honeywell Technologies’ benefit plans were proportionately adjusted.

No fractional shares were issued in connection with the reverse stock split. As soon as practicable after the effective time of the reverse stock split, Honeywell Technologies’ transfer agent will aggregate such fractional shares into whole shares and sell the whole shares at the then-prevailing trading prices in the open market on behalf of those shareowners who would otherwise be entitled to receive a fractional share, and after Honeywell Technologies’ transfer agent’s completion of such sale, such shareowners will receive a cash payment (without interest or deduction) from Honeywell Technologies’ transfer agent in an amount equal to their respective pro rata shares of the total net proceeds of that sale and, where shares are held in certificated form, upon the surrender of such shareowners’ stock certificates.

Supplemental Quarterly Information for Honeywell Technologies

In connection with the spin-off, Honeywell Technologies will file a Current Report on Form 8-K later this morning presenting the former Aerospace Technologies (now Honeywell Aerospace) business as discontinued operations, along with the former Advanced Materials (now Solstice Advanced Materials) business which was previously presented as discontinued operations effective Q4 2025.  The information in the filing will contain recast historical financial information for Honeywell Technologies and its segments on a quarterly basis for fiscal years 2024 and 2025, and Q1 2026, and will include reported and organic sales percentage change, operating income and segment profit, and Earnings per share of common stock– diluted and Adjusted earnings per share of common stock– diluted.