It's a new acquisition that might bring a Swiss industrial giant new opportunities in North American residential markets --- ABB has acquired Lumin, a Charlottesville VA based "pioneer of responsive energy management solutions" designed for smart homes. The acquisition expands ABB"s residential energy management portfolio and, per ABB, by "combining ABB’s global expertise with Lumin’s flexible platform," will result in products and systems for smarter, more sustainable homes.
Sporting a tag line of "Home energy control, simplified," Lumin has developed solutions for battery storage backup, ways to maximize NEM 3.0 credits, flexible demand response programs, and other turnkey energy management solutions. "This is an incredible opportunity to scale our platform and make energy management even more accessible to homeowners across North America,” said Alex Bazhinov, Lumin’s Founder and President. in the ABB Press Release announcing the acquisition.
For its part, ABB praised Lumin's advanced product portfolio, track record of innovation, and "deep insights into behind-the-meter consumption and dynamically manages energy loads. The company further expects to gain access to Lumin's key partnerships in the residential renewable sector.
"By acquiring Lumin, we gain not only an advanced product portfolio but also access to key partnerships within residential-renewable-focused organizations - an essential move in driving future innovations for smart homes and communities across the region,” said Mike Mustapha,, president of ABB Electrification’s Smart Buildings Division..