Trane Acquires Building Energy and Emissions Reduction Solutions Provider BrainBox AI
HVAC and climate control solutions company Trane Technologies announced that it has signed a definitive agreement to acquire BrainBox AI, which has developed an artificial intelligence and cloud-based building systems optimization tool aimed at helping building owners to accelerate decarbonization and reduce energy consumption.
Headquartered in Montreal, Canada, BrainBox AI utilizes artificial intelligence to predict building energy needs and automate HVAC systems. An estimated 15% of global greenhouse gas (GHG) emissions are directly related to the heating and cooling of buildings. According to the company, its system can reduce energy consumption by up to 25% and reduce GHG emissions by up to 40%. It is currently deployed across more than 14,000 commercial buildings globally, including airports, complexes, office buildings, hotels, commercial retail centers and more.
Riaz Raihan, Chief Digital Officer, Trane Technologies said:
“Advanced AI technology is supercharging what’s possible as we reduce energy and emissions from the built environment. 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.”
The acquisition follows a 2-year partnership between the companies, including the launch last year of Trane Autonomous Control Powered by BrainBox AI, an AI and cloud-based building systems optimization tool aimed at helping building owners to accelerate decarbonization and reduce energy consumption.
BrainBox AI CEO Sam Ramadori, and co-founder and CTO Jean-Simon Venne 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.
Sam Ramadori, BrainBox AI CEO said:
“At BrainBox AI, we believe in the power of AI in addressing climate change. 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.”