ABB, a leader in electrification and automation technology, announced on December 5 the conclusion of a strategic partnership and minority investment agreement with Tallarna Ltd, a British start-up specializing in climate technologies, with the aim of strengthening the digital portfolio from your Smart Power Split to power management.
This venture capital investment, the tenth this year, the amount of which was not disclosed, will be provided through ABB’s private equity firm, ABB Technology Ventures (ATV). Since its inception in 2009, ATV has invested approximately $300 million in start-ups that have synergies with the company’s portfolio of electrification, robotics, automation and mobility solutions.
Founded in 2018, Tallarna, a climate technology company for the built environment, is dedicated to making decarbonization at scale financially viable. It achieved this by combining data analysis, performance guarantees, effective financing and today collaborates with residential and commercial building owners, energy infrastructure developers and technology providers.
In this way, it developed KESTREL, a data analysis platform to offer its customers decarbonisation projects, assessing their energy savings, their risks and their financing capacity.
The AI software is integrated with the related underwriting processes of AmTrust Financial Services, a specialist property and casualty insurer who is also an existing investor in the company. Guaranteed energy savings are used to provide efficient long-term financing through Tallarna’s platform and reimburse project costs.
Tallarna was the winner of the ABB Electrification Startup Challenge 2021, a global competition for innovative companies tackling the complex sustainability challenges faced by commercial buildings and industrial power applications.
Giampiero Frisio, president of ABB’s Smart Power division, explains:
“Companies are looking for investments that allow them to benefit from clean energy, save money and build resilience. To enable organizations to meet their sustainability commitments, we need technology that can help decision makers clearly identify priorities, provide simpler financing models involving financial institutions, and access capital faster with a higher level of confidence in the financial returns and operating costs. we will help Tallarna to develop its technology’s capabilities for industrial applications. 🇧🇷
ABB was born from the 1988 merger of two companies, ASEA, a Swedish electrical engineering company founded in 1883, and Brown, Boveri & Cie, an electrical engineering company. created in 1891 in Baden, Switzerland. Today, it is one of the technological leaders in the areas of electrification, robotics, automation and motion.
His deep expertise in equipment performance and innovative electrification technology will enhance Tallarna’s existing capabilities, while his support will allow him to expand his reach to energy service companies (ESCOs) serving commercial and industrial organizations.
Tim Meanock, CEO and co-founder of Tallarna, concludes:
“We created Tallarna with the aim of accelerating decarbonization in the built environment, supporting the entire value chain, from funders to end users. Our software financially enables large-scale decarbonization, converting technical risks into financial risks, that is, turning optimization projects into financial assets for investors. This collaboration with ABB will provide us with valuable industry insights and enhanced digital capabilities to empower commercial and industrial organisations. »