Honeywell Stock Surges 092% in 96th Ranked Trading Day as Hydrogen Supply Chain Deal with ENEOS Boosts Market Confidence

On May 19, 2025, Honeywell (HON) saw a trading volume of $766 million, ranking 96th in the day's stock market. The company's stock price increased by 0.92%, marking the third consecutive day of gains, with a total increase of 3.57% over the past three days.

Honeywell has been selected by ENEOS, a leading energy company in Japan, to develop the first commercial-scale hydrogen supply chain. This project involves the production, storage, transportation, distribution, and material recovery of hydrogen using Honeywell UOP’s methylcyclohexane (MCH) dehydrogenation process. ENEOS plans to install the MCH unit within its refineries in Japan, leveraging Honeywell's technology to enable safe and effective long-distance transport of hydrogen.

Rajesh Gattupalli, president of Honeywell UOP, highlighted the growing global energy demand and the need for cost-effective hydrogen imports. He emphasized that Honeywell's MCH dehydrogenation process will enhance the commercial viability of hydrogen, helping to meet increasing energy requirements. The process involves converting hydrogen gas into MCH, transporting it via ship or tanker, and then extracting hydrogen gas at its destination. The remaining byproduct, toluene, can be recycled for future use.

Honeywell and ENEOS are actively collaborating on hydrogen transportation projects. In 2024, Honeywell announced plans to develop the world’s first commercial-scale LOHC project at various ENEOS sites. This collaboration underscores Honeywell's commitment to innovation and sustainability in the energy sector.