• ABB expands its collaboration with Edgecom, the 2024 Startup Challenge winner
• Edgecom and ABB team up to deliver AI-driven solutions for industrial clients

ABB has forged a strategic partnership with Edgecom Energy, a Toronto-based startup specializing in energy management. Leveraging advanced artificial intelligence, Edgecom’s platform assists industrial and commercial users in managing and reducing power demand peaks. It stands out as the first platform to incorporate a generative AI copilot, enhancing the user experience.

As part of this partnership, ABB Electrification Ventures—the venture capital arm of ABB Electrification—has made a minority investment in Edgecom. ABB Electrification Ventures operates under the broader ABB Ventures framework, which focuses on supporting transformative technologies that align with ABB’s mission of creating a sustainable, electrified, and automated world. Edgecom’s recognition as a winner in ABB’s 2024 Startup Challenge underscores its innovative approach.

According to the International Energy Agency, the pace of energy efficiency improvements must double over the next decade to achieve net-zero goals. Digital energy management will be critical in this effort. ABB’s Smart Power division will collaborate with Edgecom’s innovation team to develop AI-enabled solutions aimed at helping North American customers reduce energy consumption and costs.

Massimiliano Cifalitti, President of ABB’s Smart Power division, commented, “Strategic partnerships are central to ABB Electrification’s AI strategy for energy management. Edgecom demonstrates how generative AI can extract value from complex datasets through an intuitive interface. Its scalability and compatibility with our AI ecosystem make it an ideal partner for advancing energy management.”

AI’s transformative potential in energy management cannot be overstated. ABB’s digitized electrification solutions collect data from site-wide power networks. Edgecom’s AI Energy Copilot transforms these datasets into actionable insights, enabling users to save energy. The AI system adapts to customer goals, offering suggestions to lower costs or reduce environmental impact.

Behdad Bahrami, CEO and Co-Founder of Edgecom, stated, “ABB’s support highlights the groundbreaking impact of our energy management solutions. Together, we empower industrial users to achieve significant cost savings and emissions reductions. As the energy transition gains momentum, partnerships like ours pave the way for a more efficient and sustainable future.”

Mehdi Parvizi, CTO and Co-Founder of Edgecom, added, “Generative AI revolutionizes energy management by enabling customized strategies that optimize performance across energy-intensive operations. This technology integrates operations with energy market dynamics, enhances energy efficiency, and guides operators toward smarter decisions.”

This investment brings ABB Electrification Ventures’ portfolio to 15 companies, with a total investment of €80 million since 2021. Overall, ABB Ventures has invested over $450 million in 70 startups across electrification and automation since 2010.

Edgecom’s innovative platform utilizes generative AI to minimize power demand peaks effectively.

As a global leader in electrification and automation, ABB combines engineering expertise with digitalization to drive efficiency and sustainability. With a legacy spanning over 140 years and a workforce exceeding 105,000 employees, ABB enables industries to outperform expectations. ABB’s shares are listed on the SIX Swiss Exchange (ABBN) and Nasdaq Stockholm (ABB).

ABB Electrification is committed to the safe, smart, and sustainable distribution of electricity from generation to consumption. With 50,000 employees in 100 countries, the division partners with clients to address the most pressing challenges in electrical distribution and energy management. As electricity demands rise, ABB is electrifying the world responsibly. This ethos, ‘Engineered to Outrun,’ defines both ABB’s mission and its approach to empowering partners.

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