ABB Electrification’s Smart Buildings Division led the strategic investment in Lumin, with participation from Lumin’s primary institutional investor, Carbon Drawdown.
ABB plans to help Lumin accelerate its accessible home energy management solutions, which complement ABB’s residential portfolio.
“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.”
Lumin currently offers homeowner and installer hardware and software solutions, including Lumin Edge, a modular system currently under development.
Lumin Smart panel, available now, is an example of Lumin’s philosophy of “Control What Matters,” which, the company reports, means that by controlling no more than twelve circuits with one Lumin Smart Panel, it enables the product to sell at a lower price point and makes installation quicker and easier than the competition. As an addition to a circuit breaker, rather than a circuit breaker replacement, it enables it to be universally compatible with all existing circuit breakers, batteries, and inverters.
“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.”
ABB has a broad range of power electronics product offerings including electric vehicle charging solutions from compact AC wallboxes, DC fast charging stations with robust connectivity, and more.
A first joint offering developed by Lumin in conjuction with ABB is expected to come to market in early 2024.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: firstname.lastname@example.org.