Trane Technologies to Acquire BrainBox AI

Business Wire12-19

Combines BrainBox AI’s leading Artificial Intelligence technology with Trane Technologies’ advanced building management and digital capabilities to meet fast-growing demand for sustainable, autonomous...

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Accelerates and scales smart building technologies that reduce demand-side energy consumption and greenhouse gas  emissions. SWORDS, Ireland, December 18, 2024----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  building technology.\"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 ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"IE0004091025.USD":"BNY MELLON GLOBAL OPPORTUNITIES \"B\" (USD) ACC","LU2211814178.USD":"ALLIANZ CLEAN PLANET \"AT\" (USD) ACC","BK4585":"ETF&股票定投概念","IE00B3CCJ633.GBP":"GUINNESS SUSTAINABLE ENERGY \"C\" (GBP) ACC","IE00B2PGVK34.USD":"GUINNESS SUSTAINABLE ENERGY \"C\" (USD) ACC","BK4533":"AQR资本管理(全球第二大对冲基金)","IE00BGHQF417.EUR":"GUINNESS SUSTAINABLE ENERGY \"C\" (EUR) ACC","TT":"Trane技术","GRO":"Brazil Potash Corp.","GHG":"格林酒店","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","BK4588":"碎股","LU2211817866.USD":"Allianz Food Security AT Acc USD","LU0154245756.USD":"BNP PARIBAS US MID CAP \"C\" (USD) ACC","LU0154245673.USD":"BNP PARIBAS US MID CAP \"C\" (USD) INC","LU0323239441.USD":"HSBC GIF GLOBAL EQUITY CLIMATE CHANGE \"AC\" ACC","BK4086":"建筑产品","LU2552382215.SGD":"WELLINGTON US BRAND POWER \"A\" (SGDHDG) ACC","BK4504":"桥水持仓","LU2552382058.USD":"WELLINGTON US BRAND POWER \"A\" (USD) ACC","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","LU2133065610.SGD":"JPMorgan Investment Funds - Global Dividend A (mth) SGD","LU2552382132.HKD":"WELLINGTON US BRAND POWER \"A\" (HKD) ACC","LU2089279066.USD":"ALLIANZ GLOBAL WATER \"AT\" (USD) ACC","BK4142":"酒店、度假村与豪华游轮","LU0323240290.USD":"HSBC GIF GLOBAL EQUITY CLIMATE CHANGE \"AD\" INC","IE0004086264.USD":"BNY MELLON GLOBAL OPPORTUNITIES \"A\" (USD) ACC","LU2229751404.USD":"ALLIANZ GLOBAL WATER \"AT3\" (USD) ACC","LU0238689110.USD":"贝莱德环球动力股票基金"},"translate_title":"特灵科技将收购BrainBox AI","themeId":"e64f7ade1e223f4813bbb9ff4bfd6876","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GHG":1,"GRO":1,"TT":0.9},"content_text":"Combines BrainBox AI’s leading Artificial Intelligence technology with Trane Technologies’ advanced building management and digital capabilities to meet fast-growing demand for sustainable, autonomous building solutions\nAccelerates and scales smart building technologies that reduce demand-side energy consumption and greenhouse gas (GHG) emissions\n\nSWORDS, Ireland, December 18, 2024--(BUSINESS WIRE)--Trane Technologies (NYSE: TT), 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.\nHeadquartered 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.\n\"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.\"\nThe 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.\nSam 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.\n\"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.\"\nBrainBox 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.\nThis bolt-on acquisition follows Trane Technologies’ proven model of adding leading technologies that augment its core business and scaling them to deliver strong returns over time.\nThe transaction is expected to close in early 2025. The transaction is not material to the company; additional details were not disclosed.\nAbout Trane Technologies\nTrane Technologies is a global climate innovator. Through our strategic brands Trane® and Thermo King®, and our environmentally responsible portfolio of products and services, we bring efficient and sustainable climate solutions to buildings, homes, and transportation. Learn more at tranetechologies.com.\nAbout BrainBox AI\nFounded 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 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 190 employees, bring with them talent from all sectors with the common thread of being in business to heal our planet. For more information visit: brainboxai.com.\nForward-Looking Statements\nThis news release includes \"forward-looking statements\" within the meaning of securities laws, which are statements that are not historical facts, including statements that relate to the acquisition of BrainBox AI and the anticipated impact of the transaction on the Company’s strategic initiatives and sustainability commitments. These forward-looking statements are based on our current expectations and are subject to risks and uncertainties, which may cause actual results to differ materially from our current expectations. Factors that could cause such differences can be found in our Form 10-K for the year ended December 31, 2023, as well as our subsequent reports on Form 10-Q and other SEC filings. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect the Company. We assume no obligation to update these forward-looking statements.\nView source version on businesswire.com: https://www.businesswire.com/news/home/20241218565051/en/\nContacts\nMedia Contact: Travis Bullard+1 919-802-2593Media@tranetechnologies.com\nInvestors Contact: Zachary Nagle+1-704-990-3913InvestorRelations@tranetechnologies.com","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2492815490"}