Honeywell and RAKBANK collaborate on energy optimization services to help reduce carbon emissions

Honeywell and RAKBANK collaborate on energy optimization services to help reduce carbon emissions

Dubai, United Arab Emirates – Honeywell (Nasdaq: HON) and RAKBANK today announced a strategic guaranteed energy savings project to help improve energy efficiencies and carbon reduction goals, in support of Ras Al Khaimah’s Energy Efficiency and Renewable Energy (EE&R) Strategy 2040.

In the first energy project of this type for RAKBANK, Honeywell will optimize heating, ventilation and air conditioning (HVAC), building management system (BMS) and chillers within RAKBANK’s headquarters building, located in Ras Al Khaimah, spanning a total area of 19,900sqm. As a certified ESCO (Energy Services Company), Honeywell will implement energy efficient measures based on a Guaranteed Energy Savings approach over the five-year agreement. Honeywell will also regularly assess and optimize the energy saving performance of the building's systems to identify opportunities for further energy savings.

“Honeywell is committed to furthering sustainability efforts in the region and supporting leading organizations in enabling their ESG goals, by identifying energy savings and reducing their carbon footprint,” said Umar Khan, general manager of sustainability, smart cities and energy, Honeywell Building Technologies, Middle East, Turkey and Africa. “We’re looking forward to supporting the sustainability targets of RAK Vision 2030 and showcasing our ready now approach to energy optimization and benefits of remote building monitoring.”

Honeywell is