BrainBox AI, developer of automated building technology, has raised $20 million to support the continued development of BrainBox AI’s decarbonization technology and its global commercialization efforts.
The company has raised US$10 million in funding from its main investor, the Quebec government. ABB is the lead investor and global partner of BrainBox AI.
BrainBox AI CEO Sam Ramadori said: With their support, we advance our mission to provide scalable and impactful decarbonization tools to commercial property owners and retailers around the world.
“Buildings account for more than 38% of global GHG emissions, so there is no way around the need to make buildings significantly more efficient.
“The convergence of investment from both the public and private sectors clearly shows that the efforts we are making resonate across the board. , we see it as very positive because it requires collective engagement to have a meaningful impact.”
The Quebec government’s $10 million commitment granted by Investissement Québec demonstrates the need for low CAPEX, high impact, decarbonization, and energy efficiency solutions like BrainBox AI.
This investment further underscores the Department of Economy, Innovation and Energy’s unwavering support for technologies that contribute to the fight against climate change. As time runs out, participation from the public sector will become mandatory.
Minister for Economy, Innovation and Energy, Pierre Fitzgibbon, Minister for Regional Economic Development, Minister for Large Cities and the Region of Montreal, said:
“To successfully decarbonize Quebec and use resources more efficiently, it is imperative that Quebec businesses adopt energy innovations such as those proposed by Brainbox AI.”
BrainBox AI says it recognizes its role in bringing innovative solutions to the built environment that “positively target GHG emissions.” The strategic partnership between ABB and BrainBox AI “reflects a common goal” shared by both organizations to make buildings smarter, greener and more efficient.
According to BrainBox AI, it is in this spirit that the company agreed to acquire ABB’s multi-site retail (MSR) energy management system integrator business.
BrainBox AI brings together ABB’s MSR business, an experienced team based in New Hampshire, USA, and an installed base of over 12,000 retail stores in its current operations, with the aim of accelerating retailers’ decarbonization journey intend to do something.
Combined with BrainBox AI’s industry-leading AI optimization technology, retailers can reduce greenhouse gas (GHG) emissions and utility costs without replacing their existing environmental management system (EMS).
AI and cloud-enabled HVAC autonomous controls are natively integrated with leading on-premises EMS solutions, giving retailers unparalleled ability to operate stores and meet pressing decarbonization goals.
Ramadori said: Upon completion of this complementary acquisition, BrainBox AI will be able to solidify its position in the retail market and provide stronger operational support and know-how to its valued customer base.
“Ultimately, the journey of delivering hybrid cloud and on-premises solutions will accelerate the transition to next-generation virtualized EMS offerings, helping retailers meet ambitious ESG goals with highly cost-effective solutions. can be achieved and exceeded at scale.”
Mike Mustapha, President, Smart Buildings, ABB Electrification, said: This is fully aligned with our mission to jointly pursue decarbonization with our strategic partners. ”
