MONTREAL, May 29, 2024 (GLOBE NEWSWIRE) -- BrainBox AI, a pioneer in autonomous and generative AI building technology, today announces its latest acquisition of the Automation Division of Turntide Technologies (Turntide). The market move furthers its position as the industry leader dedicated to cloud-based, AI-driven optimization solutions for the built environment. This purchase expands BrainBox AI’s ability to bring even further value to real estate and retail portfolios across the world by enhancing the company’s current offering to a more comprehensive suite of building management features.
The cooperative agreement to acquire Turntide’s Automation business unit lays the foundation for future collaboration between the climate focused companies. “Following a successful transaction, the Automation division is poised to make an even greater impact in the market as part of BrainBox AI’s growing array of solutions for the built environment.” said Mark Cox, Interim CEO at Turntide Technologies.
The Automation business unit has grown extensively under Turntide’s stewardship. Currently it has more than 1,900 connected buildings located in North America and Europe, including leading Fortune 500 retail and banking companies. Its talented team brings decades of experience building cloud-based integration and automation systems for the built environment. By merging this valuable business with its industry leading autonomous building platform, BrainBox AI is once again setting the stage to extend its reach in the market with this important addition.
BrainBox AI’s commitment to decarbonizing the commercial real estate market has solidified its role as an innovator. Both companies welcome this new chapter in their relationship. “Our latest acquisition sets an important tone for the industry. It marks a significant inflection point where two climate tech innovators, align over their shared mission to fight global climate change.” said Sam Ramadori, Chief Executive Officer at BrainBox AI. “Growth is a critical driver for success. As Turntide Technologies fulfills its business objectives, we recognize the synergy that this opportunity creates to accommodate their vision and ours. We hope to be able to support their mission to revolutionize the smart motor business with their cutting-edge technology and remain supportive of their future work as we both pursue this incredibly important mission.”
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 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 190 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 MILA – Quebec AI Institute, the Institute for Data Valorization (IVADO) as well as educational institutions including McGill University and The University of Montreal. For more information visit: brainboxai.com.
Contact
Liz Culley-Sullo
Director, Public Relations
l.culley-sullo@brainboxai.com
About Turntide Technologies
Turntide Technologies Inc. decarbonizes global industries, catalyzing change through innovation. Turntide is a leader in electrification technologies, serving diverse sectors including off-highway, on-highway, e-mobility, industrial machines, marine, rail, and premium automotive industries. With over 60 years of experience and more than 300,000 vehicles deployed, we specialize in designing, developing, and manufacturing tailored electrification solutions. Our end-to-end service model from concept through validation minimizes supply chain risks and accelerates market entry, offering clients comprehensive support and streamlined collaboration with a seasoned supplier. To learn more about Turntide, please visit www.turntide.com
Contact
Jillian Childs
Vice President of Marketing
jillian.percella@turntide.com
