ABB announced an investment in Montreal-based startup, BrainBox AI. Launched in 2019, BrainBox AI claims to have pioneered the use of artificial intelligence to reduce energy costs and carbon emissions from Heating, Ventilation and Air Conditioning (HVAC) systems in commercial buildings. Financial details of the investment were not disclosed.
This investment and strategic engagement allow ABB’s Smart Buildings division to combine its existing portfolio of digital solutions, particularly the ABB 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. The joint offering is available from Q4 2021.
In addition to enabling up to 25 percent reductions in energy costs and 20–40 percent lower carbon emissions, BrainBox AI’s deep learning software increases occupant comfort and extends the service life of HVAC equipment – all without upfront capital expenditure.
ABB Technology Ventures leads the Series A investment round in Brainbox AI, which also included Canadian-based Esplanade Ventures and Desjardins Capital in addition to a number of private investors.