Zurich/Charlottesville – ABB has led a financing round for the North American company Lumin. The company enables comprehensive control over the domestic power grid, including a universally compatible and retrofittable platform for load management.
ABB is investing in Virginia-based Lumin through its venture capital arm. According to a press release, the energy and automation group sees this commitment as a further step towards improving energy management in buildings. The partnership combines Lumin’s software and cloud capabilities in the field of responsive load control with ABB’s power distribution portfolio and market channels. Lumin offers hardware and software solutions for homeowners and installers that complement ABB’s robust portfolio for residential buildings.
Together, the two companies want to develop new barrier-free energy management solutions for homeowners in North America that increase sustainability and save costs. According to ABB, the residential sector alone accounts for 21 percent of total annual electricity consumption in the USA. The first joint offering is expected to be launched at the beginning of 2024.
According to the information provided, Lumin’s innovative platform makes it possible to upgrade the electricity grid without having to modify the existing switch box in the house. It offers “unprecedented insights” into the consumption data behind the meter and shifts the loads dynamically. Lumin’s universally compatible and retrofittable platform for load management also supports the energy transition.
As Mike Mustapha, President of ABB Electrification’s Smart Buildings division, explains, this latest collaboration is “not only a testament to our commitment to the North American residential sector, but also to strengthening customer value through partnerships on a global scale. The data collected through this partnership will enhance future product innovation.” ce/mm
