The combination of the global experience of ABB and the flexible LUMIN platform, sets a new standard for the most intelligent and most sustainable homes dealing with a great opportunity for electrical animals and renewable energy for new and equipped homes throughout the continent, the integration of emerging business in the United States will lead
ABB today announced the acquisition of LUMIN, the pioneer residing in the United States and a prominent provider of the responsive energy management systems, to expand its capabilities to manage home energy in the housing sector in North America. The acquisition is a strategic investment of the minority by ABB in the company in 2023. The financial conditions of the treatment have not been revealed.
The acquisition of the Lumin smart solutions to electricity, as well as solar energy and storage systems, brings to the ABB wallet, creating a comprehensive offer for residential energy in North America. With the addition of LUMIN technology, ABB is in a good position to meet the increasing demand for home electrification solutions in the United States, as it requires about 48 million homes that exist is electrical upgrades – a large number of more increasing when the new construction and other North American markets are included.
Lumin, a graceful and dynamic startup company, has a busy record in developing innovative energy management solutions. Its very flexible platform allows the smooth complementarity of any brand of download centers, batteries and generators. It also provides deep visions about consumption from behind aircraft and manages a dynamic energy loads-such as electric vehicle chargers, hot baths and heat pumps-which paves the way for more efficient and sustainable societies.
This acquisition supports ABB growth strategy in the North American residential market, where the electrification and renewable energy increases demand. Through LUMIN’s capabilities for cloud -based devices and programs – including the mobile phone application for home owners and stabilizers – ABB can provide more intelligent, safer and sustainable home energy solutions.
“We are excited to welcome LUMIN in the ABB family at a time when the electricity throughout North America is from the huge transformational,” said Mike Mostava, head of the AbB Electrify smart building department.
Electricity plays an important role in the consumption of residential energy in North America, which represents 44 % in the United States and approximately 46 % in Canada. In the coming years, this share is expected to grow with the increased consumption of residential electricity in the United States by 14 % to 22 % between 2022 and 2050⁵. These trends are a strong opportunity for the newly acquired solutions to ABB to make all electrical homes more expensive for builders and help homeowners increase their energy efficiency to the maximum.
Mike Mustafa added: “By getting Lumin, we don’t only gain an advanced product portfolio, but we also get an advanced product portfolio, but also access to major partnerships in organizations that focus on residential renewal-a basic step in pushing future innovations for homes and smart societies throughout the region.”
“Joining ABB is an exciting step for LUMIN. We are fully compatible with the ABB mission to push innovation, sustainability and the most intelligent energy solutions. This is an incredible opportunity to expand our platform and make energy management more access to homeowners around North America,” said Alex Bazinov, a stable Lomin and its president. “As part of ABB, we will help homeowners reduce energy waste, integrate renewable energy sources, and create more sustainable and effective societies.”
Notes for editors:
1 Electricity Road Certainty: Astricular Panel Capacity
2 https://www.eia.gov/energyexplained/use-Energy/homes.php
3 The Daily – Families and Environment: Energy Use, 2021
4 Using energy in Canada: Trends Publications Natural Resources Canada
US energy consumption increases between 0 % and 15 % by 2050 – US Energy Information Management (EIA)
ABB is a global technology leader in electricity and automation, which provides a more sustainable and effective future in resources. By communicating its engineering and digital expertise, ABB helps industries high performance, while becoming more efficient, productive and sustainable until they excel. In ABB, we call this “roaming engineering”. The company has more than 140 years of history and more than 105,000 employees worldwide. ABB shares are inserted into Swiss Exchange (Abbn) and Nasdaq Stockholm (ABB). www.abb.com
ABB Electripion is a global pioneer of technology that allows the effective and reliable distribution of electricity from the source to the socket. With more than 50,000 employees in 100 countries, we cooperate with our customers and partners to solve the world’s biggest challenges in electrical distribution and energy management. With the acceleration of energy transmission and the growth of electricity requirements, we draw the world in a safe, smart and sustainable way. In ABB, we are “designed to roam”, and we are excited to help our customers and partners do the same. Go.abb/electrification
Lumin® was founded in 2016, a leading company in smart pregnancy management, which transforms how home owners interact with energy and provide solutions that enhance comfort, vision and control. By converting regular electrical panels into smart energy systems, Lumin opens the smartest electricity. Its products are designed in a deliberate, engineering and assembly in Charlotteville, Virginia, to overcome strict criteria for performance and reliability, which reflects the strong commitment of Lumin to local quality and craftsmanship. With the support of an emotional team and a network of installations throughout the United States and Canada, Lumin paves the way for an electric future. Find out more in www.luminsmart.com.
