Honeywell Expands Industrial Decarbonization Array by Completing $1.5B Catalyst Technologies Acquisition
Honeywell Technologies is deepening its investment in global decarbonization services for industrial and energy companies after completing its $1.5 billion (Euro 1.325 billion) acquisition of British-held Johnson Matthey’s Catalyst Technologies business.
The deal, which was more than a year in the making, expands Honeywell’s portfolio in its global offering of catalyst solutions in the refining, petrochemical and renewable fuel sectors. For instance, last year Phelan Green Hydrogen licensed technologies from Johnson Matthey Catalyst Technologies for its electro‑sustainable aviation fuel (eSAF) facility in the Western Cape, South Africa.
Honeywell highlighted the acquisition as expanding its catalyst, process and digital capabilities.
“This acquisition significantly enhances Honeywell Technologies’ ability to deliver end-to-end solutions that help our customers drive efficiency, reduce emissions and accelerate energy security goals,” said Ken West, President and CEO of Process Technology at Honeywell Technologies, in a statement.
Johnson Matthey is repositioning itself as a streamlined company focused on clean air and platinum group metals, including supply, management, refining and recycling.
“We will now fundamentally re-shape Johnson Matthey into a more focused and leaner business,” the company’s CEO Liam Condon said when the sale was first announced in May 2025. “This will better position us to leverage our strong capabilities and leading market positions in Clean Air and PGM Services to drive a step change in sustainable cash generation with higher returns to shareholders.”
Honeywell’s decarbonization work includes projects in renewables, hydrogen and carbon capture. The company and Johnson Mathey have teamed up on sustainable aviation fuel development in the past.
Catalytic technologies aid in reducing industrial energy use and emissions through enhanced process efficiencies and direct air capture of carbon dioxide at emission sources.
