ABB invests in Lumin to accelerate the development of accessible home energy management solutions
December 12 2023 - 5:00AM
- Joint development of
new accessible energy management solutions to increase
sustainability and cost savings for homeowners in North
America
- Partnership
leverages the strengths of Lumin’s software and cloud capabilities
in responsive load control along with ABB’s electrical distribution
portfolio and channels to market
- New investment is
another step in ABB’s commitment to enhancing energy management in
the residential energy sector
In its continual efforts to enhance customer experience, ABB is
investing in Lumin, the US-based pioneer and leading provider of
responsive energy management solutions, to bring new smart and
sustainable technologies to homes in North America. ABB led the
strategic investment with participation from Lumin's primary
institutional investor, Carbon Drawdown Collective, and its other
incumbent investors. Lumin’s innovative platform enables
electrification upgrades without changing the home’s existing
electrical panel. It provides unprecedented insights into
behind-the-meter consumption data and dynamically shifts loads to
support the energy transition for communities.
Globally, buildings contribute to 40% of total energy
consumption, emphasizing the crucial role they play in the push
towards electrification. In the US, the residential sector alone
accounts for about 21 percent of the country’s total annual energy
consumption1, a number set to surge with the ongoing shift toward
electrification and decarbonization. Intelligent load management is
vital for meeting the surging energy demand to increase
sustainability, efficiency and lower emissions.
The investment by ABB Electrification’s Smart Buildings Division
in Lumin enables them to develop a joint offering to accelerate and
optimize accessible home energy management. Lumin offers
leading-edge homeowner and installer hardware and software
solutions that complement ABB’s robust residential portfolio. This
collaboration will bring new innovations to the North American
residential energy sector that support the safe, smart, and
sustainable electrification of both new and existing homes. A first
joint offering is expected to come to market in early 2024.
“Our focus is on meeting the growing demand for
integrated, easy-to-use, flexible products and solutions to help
customers effectively manage their energy usage and lower energy
costs as fast as possible,” said Mike Mustapha, President of ABB
Electrification’s Smart Buildings Division. “This latest
collaboration is a testament not just to our commitment to the
North American residential sector, but to strengthening customer
value through partnerships globally. The data gathered through this
partnership will hone future product innovation as customer needs
evolve.”
“As an established player in the industry, Lumin’s agility and
expertise, coupled with a strong competitive position, align
perfectly with our investment criteria,” says Mads Moeller, Head of
Ventures at ABB Electrification. “This collaboration allows us to
expand our home energy management capabilities in the North
American residential sector, where we aim to bring value and
affordability to home energy solutions.”
“Lumin is thrilled to partner with ABB, setting the stage for
jointly developed responsive energy management products,” said
Kelly Warner, CEO of Lumin. “ABB’s strategic investment will
empower Lumin, fostering innovation and scaling operations. We’re
redefining how homes interact with and contribute to the energy
grid while offering all homeowners unprecedented comfort, control,
and cost savings easily via a single, intuitive app.”
The investment helps expand ABB’s ecosystem of innovation
partners developing solutions that support decarbonization and
energy efficiency. Since 2009 ABB has made investments of around
$400 million from its venture capital arm that are aligned with its
electrification, robotics, automation, and motion portfolio.
1 Energy Data Facts, Office of Energy Efficiency and Renewable
Energy
ABB is a technology leader in electrification and automation,
enabling a more sustainable and resource-efficient future. The
company’s solutions connect engineering know-how and software to
optimize how things are manufactured, moved, powered and operated.
Building on more than 140 years of excellence, ABB’s ~105,000
employees are committed to driving innovations that accelerate
industrial transformation. www.abb.com
About ABB Electrification
Electrifying the world in a safe, smart, and sustainable way,
ABB Electrification is a global technology leader in electrical
distribution and management from source to socket. As the world’s
demand for electricity grows, our 50,000+ employees across 100
countries collaborate with customers and partners to transform how
people connect, live and work. We develop innovative products,
solutions and digital technologies that enable energy efficiency
and a low carbon society across all sectors. By applying global
scale with local expertise, we shape and support global trends,
deliver excellence for customers and power a sustainable future for
society. go.abb/electrification
About Lumin
Lumin® is the pioneer and leading provider of responsive energy
management solutions. Through its innovative Control What MattersTM
approach, Lumin offers the only universally compatible,
retrofit-ready load management platform on the market that is
out-of-the-box compatible with all residential batteries and load
centers. By making ordinary circuits smart, Lumin grants
comprehensive control over the home microgrid, enabling whole-home
backup, electrification, and participation in demand response
programs. Through the user-friendly Lumin app, homeowners can
monitor their energy use, create on-grid and off-grid circuit
management schedules, and automate time-of-use rate avoidance,
providing maximum energy control. Backed by a network of installers
across the U.S. and Canada, Lumin’s technology is paving the way
for an all-electric, clean energy future. Discover more at
www.luminsmart.com.
Elizabeth Lubben
ABB
470.449.2683
elizabeth.lubben@us.abb.com
Kenny Gayles
Lumin
800.793.8013 x702
kenny.gayles@luminsmart.com
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