HVAC & Plumbing
ABB invests in BrainBox AI – Montreal-based building technology start-up
November 1, 2021 By Anthony Capkun
November 1, 2021 – ABB has invested in Montreal-based start-up BrainBox AI as “part of its ambition to make buildings smarter, safer and more secure while improving energy efficiency and reducing carbon emissions”.
Launched in 2019, BrainBox AI uses artificial intelligence to reduce energy costs and carbon emissions from HVAC systems in commercial buildings. Financial details of the investment were not disclosed.
“Our core focus is on bringing radical change to new and existing buildings with safe, secure, smart and sustainable solutions,” said Oliver Iltisberger, president of ABB’s Smart Buildings division. “I am confident that ABB’s investment in BrainBox AI—when combined with our ABB Ability Building Ecosystem—will help us leapfrog current approaches to digital transformation, further reduce energy costs and play our part in addressing climate change.”
This investment will allow ABB’s Smart Buildings division to combine its existing portfolio of digital solutions (e.g. Ability Building Ecosystem) with BrainBox AI’s predictive, self-adaptive and scalable cloud-based artificial intelligence. ABB and BrainBox AI are committed to interoperability, allowing customers to use a variety of technologies.
“BrainBox AI is excited to be working with ABB, a global technology leader at the core of the energy transition, to further accelerate the deployment of our industry-changing AI-driven energy solutions for the commercial real estate sector,” said Sam Ramadori, president of BrainBox AI. “With buildings producing 28% of the world’s total carbon emissions, it is more critical than ever to bring scalable clean technology to our cities.”
“Overlaying autonomous artificial intelligence on existing infrastructure in the built environment is not only key to energy efficiency, but also a crucial step towards future grid-interactive buildings,” Ramadori added.
“With its true autonomous artificial intelligence engine and its pure SaaS business model, BrainBox AI constitutes the epitome of the kind of investments we look for,” said Malin Carlstrom, head of Ventures, ABB Electrification. “The capital injected will be used for Brainbox AI’s continued and accelerated internationalization as well as for product and offering development.”
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