Trane Technologies (NYSE:TT), a global climate innovator, announced that it has completed the acquisition of BrainBox AI, a pioneer in autonomous HVAC controls and generative Artificial Intelligence (AI) building technology. The acquisition was previously announced in a press release on December 18, 2024.
BrainBox AI uses advanced deep learning algorithms to predict building energy needs and automate HVAC systems, thus reducing energy consumption by up to 25% and reducing greenhouse gas (GHG) emissions by up to 40%. The acquisition builds on the companies' existing collaboration and 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.
"We are delighted to officially welcome BrainBox AI associates as we further expand upon our companies' complementary capabilities, technology and offerings," said Riaz Raihan, senior vice president and Chief Digital Officer of Trane Technologies. "We look forward to bringing our teams and technologies closer together as we help customers meet their business and sustainability goals through the power of AI and smart building technologies."
About Trane Technologies
Trane 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.
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 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.
Forward-Looking Statements
This 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.
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