There have been a number of months of speculation now as to what Remedy's Codename Heron would actually be, but now the Finnish developer has finally announced that it is Control 2. It will be a direct sequel to the first game and it is currently in the early stages of development.
Control 2 is being developed in partnership with 505 Games and has a budget of €50 million to play with. Remedy will publish the PC version and 505 Games will publish the console versions of the game, and the profits will then be split equally between the two companies.
Control 2 will be released for PC, PlayStation 5 and Xbox Series S/X. There is no release date yet and we will likely have to wait for it given how early in development it is. However, if you're keen for more from Remedy, Alan Wake 2 will be released as early as next year and they also have more titles in development.