MINNEAPOLIS, May 12, 2015 Honeywell (NYSE: HON)
and the U.S. Army today announced a $22.4-million modernization project at the Rock Island Arsenal (RIA) Garrison
in Rock Island, Ill. The project will help the Garrison eliminate its reliance on coal-fired heating and replace it with high-efficiency boilers that will reduce the RIA Garrison's emissions and help the site comply with new Environmental Protection Agency regulations.
The upgrades to the RIA Garrison's heating system will be funded by a 15-year energy savings performance contract from Honeywell awarded by the U.S. Army Corps of Engineers. The company guarantees the upgrades will generate enough savings each year to pay for the work, creating a self-funded project, which should reduce or even eliminate the need for up-front capital or additional taxpayer dollars.
The Honeywell-led improvements will also help the Garrison address recent changes to the EPA Clean Air Act. The updated rule calls for a reduction of coal use or the installation of costly pollution control equipment in plants that burn fossil fuels.
"Deferred maintenance due to lack of financial resources is a common challenge for federal agencies and other public entities. However, there are low-risk options that can help overcome these barriers," said John Rajchert, president of Honeywell Building Solutions
. "Our work with the Rock Island Arsenal Garrison is a prime example of how organizations can make important infrastructure upgrades, leveraging guaranteed energy and operational savings to help fund projects."
As part of the project, Honeywell will replace the existing coal-fired central steam plant with high-efficiency natural gas boilers at approximately 30 buildings. The revamp to the heating system is expected to reduce energy consumption by approximately 11 percent and water consumption by 12 percent. The work should also reduce annual greenhouse gas emissions by an estimated 20,800 metric tons, equivalent to removing 4,500 cars from the road.
"Evolving our operation to be more efficient and sustainable not only helps protect the environment, but also the well-being of the community, which we've been a part of for more than 150 years," said Colonel Elmer Speights, Jr., commander of the Rock Island Arsenal Garrison. "With this project, we'll reduce our operating costs significantly while also lowering our environmental impact by eliminating our reliance on coal as a heating source."
Honeywell and the RIA Garrison expect to finish the improvements by the fall of 2016. This work builds on a previous modernization project at an Army manufacturing facility that operates on the Arsenal. Together with the latest effort, the upgrades are expected to cut Arsenal-wide energy use by more than 35 percent and water consumption by approximately 30 percent.
A global leader in energy-saving technology and services, Honeywell has completed almost 5,700 guaranteed efficiency projects around the world, including upgrades at more than 150 U.S. government facilities and campuses. Combined, this work is expected to decrease customers' energy and operating costs by an estimated $6 billion.
) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes, and industry; turbochargers; and performance materials. For more news and information on Honeywell, please visit www.honeywellnow.com
This release contains certain statements that may be deemed "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements.