Trane Technologies, a global climate innovator, announced that it has signed a definitive agreement to acquire BrainBox AI, a pioneer in autonomous HVAC controls and generative Artificial Intelligence (AI) building technology.
Headquartered in Montreal, Canada, a global AI hub, BrainBox AI has developed an industry-leading enterprise autonomous building platform. An estimated 15% of global greenhouse gas (GHG) emissions are directly related to the heating and cooling of buildings. BrainBox AI uses advanced deep learning algorithms to predict building energy needs, automate HVAC systems, reduce energy consumption by up to 25% and reduce GHG emissions by up to 40%. BrainBox AI’s proven technology is deployed across more than 14,000 commercial buildings globally, including airports, complexes, office buildings, hotels, commercial retail and more.
“Advanced AI technology is supercharging what’s possible as we reduce energy and emissions from the built environment,” said Riaz Raihan, Chief Digital Officer, Trane Technologies. “BrainBox AI and Trane Technologies share a passion for accelerating and scaling innovative, customer-focused AI solutions and smart building technologies that address the world’s pressing climate challenges. We look forward to welcoming the talented BrainBox AI team.”
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The acquisition further augments Trane Technologies’ advanced building management and digital capabilities and represents a natural extension of the companies’ existing collaboration. The companies have partnered over the past two years to help customers reduce their carbon footprint and meet business goals. Trane® Autonomous Control couples Trane’s cloud-based building automation system with BrainBox AI technology to analyze live data from multiple sources; accurately predict zone temperature and energy loads; and perform system improvements 24/7 to optimize energy usage.
Sam Ramadori, Chief Executive Officer, BrainBox AI, and Jean-Simon Venne, Co-founder and Chief Technology Officer, BrainBox AI, will continue to lead the BrainBox AI business and team of more than 190 associates, primarily based in Canada and the United States. All BrainBox AI associates will join Trane Technologies upon close. Trane Technologies will maintain BrainBox AI’s existing operations in Montreal, contributing to the region’s rich AI ecosystem to accelerate AI innovation globally.
“At BrainBox AI, we believe in the power of AI in addressing climate change,” said Sam Ramadori, BrainBox AI CEO. “Combining BrainBox AI’s advanced technology with Trane Technologies’ leading digital platform and best-in-class global direct sales capabilities will accelerate the deployment of smart building solutions worldwide and achieve greater outcomes for our people, customers and the world. We look forward to an exciting new chapter for BrainBox AI as part of Trane Technologies.”
BrainBox AI’s recently launched ARIA platform (Artificial Responsive Intelligent Agent) was selected as one of TIME’s Best Inventions of 2024. ARIA, the world’s first virtual building engineer, delivers precise and accurate data visualization, sound reasoning, and informed actions for facility management professionals.
SOURCE: Businesswire
