Honeywell Engages Minority- and Women-Owned Contractors to Help Execute Energy Savings Projects in Boston’s City-Owned Buildings

ATLANTA – August 1, 2023 – Honeywell (Nasdaq: HON) today announced an innovative collaboration with Interise, a national not-for-profit with award-winning small business programs, to create a pipeline of Minority- and Women-Owned Business Enterprise (MWBE) sub-contractors for Honeywell and others in and around Boston. The program, called Interise Equity Contractor Training Sponsored by Honeywell, is accepting applications to join the 2023 inaugural year.

The initiative with Interise will also support Honeywell Energy Solutions Group’s existing multi-phase Energy Savings Performance Contract (ESPC) program with the City of Boston as part of the Renew Boston Trust program to help achieve energy and carbon reductions in City-owned historic buildings. Honeywell was recently awarded one phase of the project, in part due to its collaboration with Interise, which enables the company to significantly exceed the City of Boston’s minimum MWBE requirements with 85% of the contract value going to MWBE contractors.

“Older buildings mean older systems, which is why we set out to help the city of Boston achieve its sustainability and infrastructure goals. Along the way, we found an opportunity to also complement the city’s diversity and inclusion activities by starting at the foundation – its inspiring workforce,” said Stefano D’Agostino, vice president and general manager of Sustainable Buildings Honeywell. “By collaborating with Interise, we are supporting inclusive economic development and job creation for established small businesses while also helping the city of Boston work towards its inclusivity and sustainability goals.”

In 2021, a report commissioned by the City of Bostonⁱ found that just 11% of City contracts went to businesses owned by women or people of color, with only 1.2% being awarded specifically to Black- and Hispanic-owned businesses combined. To combat this disparity and proactively create a competitive MWBE contractor pool in the Boston area, Honeywell and Interise are working together to provide small business owners with the knowledge and networks needed to grow businesses. Using Interise’s award-winning StreetWise ‘MBA’™ⁱⁱ curriculum, contractors can gain a strong focus on business management and procurement expertise.

“Interise is thrilled to work with Honeywell to bring much-needed assistance to minority- and women-owned businesses in Boston,” said Darrell Byers, CEO, Interise. “These small business owners face challenges on a daily basis and our programs aim to provide them with practical knowledge and practices they can use to thrive, as well as support the small business ecosystem in making system changes for better outcomes.”

The Interise Equity Contractor Training Sponsored by Honeywell program is free of charge and consists of 13 sessions meeting every other week for three hours, subject to availability and eligibility requirements.

Honeywell serves as the design build contractor and since 2019 has supported upgrades to municipal buildings around Boston including school facilities, fire stations, police stations and libraries. Honeywell leads planning, design, construction and support services while working with local Boston contractors to execute projects, which include upgrades to HVAC systems, lighting, water conservation, building weatherization, solar power and more.

Renew Boston Trust began in 2017 and is a City program that conducts energy audits and invests the projected savings in conservation and sustainable upgrades for municipal buildings. The program is helping the City lead by example in reaching its carbon neutrality goals while becoming a Green New Deal city.

About Interise

Interise (www.interise.org) builds diverse and inclusive local economies through small business development, supporting the growth of minority-owned small businesses and small businesses located in low- and moderate-income communities. Interise contributes to inclusive economic development through its national research on the growth of established small businesses and its award-winning business development programs. As Interise companies grow, they contribute to local job creation and build community wealth. Interise companies historically create new jobs at five times the rate of the private sector and are responsible for the creation of over 30,000 new jobs. Interise partners with government agencies, anchor institutions, and business associations to offer the StreetWise ‘MBA’™ program in more than 80 cities nationwide. Strategic Growth Partners include the Kauffman Foundation, the TD Bank Foundation, the Wells Fargo Foundation and the Prudential Foundation.

About Honeywell Building Technologies

Honeywell Building Technologies (HBT) is transforming the way every building operates to help improve the quality of life. We are a leading building controls company with operations in more than 75 countries supported by a global channel partner network. Commercial building owners and operators use our hardware, software and analytics to help create safe, efficient and productive facilities. Our solutions and services are used in more than 10 million buildings worldwide.

Honeywell (www.honeywell.com/us/en) delivers industry specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/us/en/news.

_{ⁱ BBC Research and Consulting, 2020 Disparity Study City of Boston, February 2021. [Accessed June 20, 2023]}

_{ⁱⁱ Interise, StreetWise ‘MBA’: Our Award Winning Program [Accessed June 20, 2023]}