Sustainable Development Technology Canada Invests $6.5M CAD in BrainBox AI, Increasing the Scope and Global Scalability of its Artificial Intelligence Technology
Supporting commercial real estate owners globally in decarbonizing their real estate portfolios faster
MONTREAL, Feb. 17, 2023 (GLOBE NEWSWIRE) — BrainBox AI, a leader in autonomous building technology, today announced Sustainability Development Technology Canada’s (SDTC) $6.5M CAD investment in its award-winning technology platform to drive faster solution automation and to strengthen its global cloud computing infrastructure.
“We are thrilled to be receiving this large investment from SDTC which will allow us to move faster in deploying our solutions around the world helping us tackle GHG emissions in the commercial real estate sector, which accounts for 38% of total global emissions”, shared Nicolas Bossé, Chief Energy Transition Officer at BrainBox AI.
Today’s support from SDTC will be used to increase the automation of BrainBox AI’s deep learning-based technology as well as to reinforce its cloud computing infrastructure. These technological reinforcements will increase the scope and global scalability of BrainBox AI’s technology, thereby furthering the built environment’s contribution to reducing its large energy usage and the associated greenhouse gas emissions. Moreover, it will enable the company to deepen the collaborative research it is undertaking with its dedicated partners.
“BrainBox AI is one of the few AI companies in Canada that has the potential to truly make a difference in our fight against climate change. Their solutions are a game-changing disruption that will drive tremendous impact for their clients and the world”, adds Valerie Pisano, Chief Executive Officer at Mila.
Both BrainBox AI and The Government of Canada are committed to emissions reduction, recognizing that collaboration and innovation are necessary to deliver impactful solutions to achieve this goal. Its “whole-of-government” approach calls upon its members to actively participate in finding and backing solutions that focus on climate change.
Proudly based in Montreal, BrainBox AI’s mission is to be an international leader in the development and commercialization of disruptive decarbonization technology. At its core, BrainBox AI aims to reduce greenhouse gas emissions and improve the environmental impact of commercial buildings at scale. Its game-changing technology leverages AI to make buildings smarter and greener, saving building owners up to 25% in energy costs, reducing by up to 40% the carbon footprint of buildings, all the while improving occupant comfort.
In a recent announcement congruent with BrainBox AI’s mission to save the planet using AI, a new product offering was unveiled directly addressing the needs of retailers to meet and exceed their sustainability targets. With this expansion of its capabilities, BrainBox AI enables brick-and-mortar retailers to lead the way among their peers in the multi-site real estate sector in achieving their emission reduction goals.
The challenges posed by the energy transition and the electrification of the economy require significant and impactful contributions from all sectors of the economy. Today’s SDTC commitment to propel the built environment’s contribution toward meeting our collective goal to reach a net-zero economy is a strong signal that new technologies have a meaningful role to play in our collective efforts for just and equitable energy transition.
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 AI to make buildings smarter, greener, and more efficient. Working together with our 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 150 employees, bring with them talent from all sectors with the common thread of being in business to heal our planet. BrainBox AI works in collaboration with research partners including the US Department of Energy’s National Renewable Energy Laboratory (NREL), the Institute for Data Valorization (IVADO) as well as educational institutions including Montreal’s Institute for Learning Algorithms (MILA) and McGill University. For more information visit: www.brainboxai.com
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