MONTREAL, July 11, 2023 (GLOBE NEWSWIRE) -- BrainBox AI has closed the acquisition of the retail energy management system integrator business of its global partner ABB, following its intent to acquire announcement on April 28th. This acquisition represents a crucial step for BrainBox AI in terms of scalability and capacity to better service its current and prospective retail clients. With complementary solutions, both BrainBox AI and the EMS retail business team share the mission of decarbonizing and optimizing the commercial real estate sector, with multi-site retail at the core. By merging its deep-learning driven expertise with a native integration to legacy systems, BrainBox AI is setting the stage to further advance its position within the retail sector.
This acquisition marks a significant development for the company, ushering in another mode of connectivity to its technology. BrainBox AI delivers its AI-tech with the capabilities of energy management optimization, carbon footprint reduction, customer and employee comfort improvement, and targeted “on-demand” predictive maintenance for HVAC systems. Furthermore, this augmented offering is already gaining momentum with BrainBox AI securing a multi-store contract with a top-tier American retailer with deployment slated for late-summer, early fall of this year.
To date, BrainBox AI has decreased its clients’ HVAC electricity spend by an average 16% and gas spend by an average 18%. Additionally, building owners experience significant reductions in maintenance costs, extension of equipment service life, and dramatic improvements in comfort level for customers and associates.
As noted by Frank Sullivan, Chief Commercial Officer at BrainBox AI; “Today is an exciting day for us. We are officially welcoming the EMS team into the BrainBox AI family. This event signifies a great step change for us as we continue to scale our business. BrainBox AI’s solution can empower building owners and facilities managers to dramatically reduce their buildings energy spend and carbon emissions. Now, its delivery to customers has been expanded by way of the technology platform that the EMS team brings. With more than 10,000 EMS enabled locations the opportunity to enhance client sustainability outcomes with our AI controls is colossal. We celebrate this moment as we continue to make positive changes in the fight against climate change.”
About BrainBox AI
Founded in 2017, BrainBox AI was created to address the dilemma currently facing the built environment, its energy consumption and significant contribution to climate change. As innovators of the global energy transition, BrainBox AI’s game-changing HVAC technology leverages autonomous AI to make buildings smarter, greener, and more efficient. Working together with our trusted global partners, BrainBox AI supports real estate clients in various sectors, including office buildings, hotels, commercial retail, grocery stores, airports, and more.
Headquartered in Montreal, Canada, a global AI hub, our workforce of over 150 employees, bring with them talent from all sectors with the common thread of being in business to heal our planet. BrainBox AI works in collaboration with research partners including MILA – Quebec AI Institute, the Institute for Data Valorization (IVADO) as well as educational institutions including McGill University.
For more information visit: www.brainboxai.com
Media Enquiries
Liz Culley-Sullo
Director, Public Relations
l.culley-sullo@brainboxai.com
