“With the recent portfolio announcement we are on a track to accelerate capital deployment and exceed our commitment to deploy at least $25 billion of capital in 2023 through 2025 with a bias towards high value accretive M&A.”

In context

“s and Cambridge Quantum Computing in late 2021, securing $300 million at a pre-money valuation of $5 billion, demonstrating Quantinuum’s leading position on [fault-tolerant] (ph) quantum computing. The round was anchored by Quantinuum’s strategic partner JP Morgan Chase with additional participation from Mitsui & Company, Amgen and Honeywell. This investment brings the total capital raised by Quantinuum since inception to approximately $625 million. Quantum computing is the key enabler for AI to reach scale potential and Quantinuum is a pioneering key breakthrough and expanding use cases across a number of industries. Honeywell remains a majority owner with over 50% equity ownership and we are committed to demonstrating a path to monetization of our [stake] (ph) within the next 18 months. With the recent portfolio announcement we are on a track to accelerate capital deployment and exceed our commitment to deploy at least $25 billion of capital in 2023 through 2025 with a bias towards high value accretive M&A. Our balance sheet then continues to give us meaningful capacity for both opportunistic share repurchases and M&A and the ongoing relatively favorable [demand] (ph) environment in 2024 will support the execution of our M&A strategy on a consistent basis. Before I hand over to Greg, let me turn to Slide 5 to review some of our recent exciting wins. Let me briefly highlight some of our recent commercial proof points. These wins demonstrate innovation across our portfolio and support Honeywell's recently announced plan to align its portfolio to three compelling megatrends: automation, future of aviation, and energy transition, all underpinned by robust digitalization capability and solution. In aero, we secured over $1 billion in new avionics and mechanical wins directly with airlines carrier”