On December 18, 2024, Trane Technologies (NYSE: TT) agreed to acquire Montreal-based BrainBox AI, a leader in autonomous HVAC controls and AI-driven building management. BrainBox AI’s technology optimizes energy use, reducing consumption by up to 25% and greenhouse gas emissions by up to 40%, with deployment in over 14,000 commercial buildings worldwide. The acquisition enhances Trane Technologies’ smart building capabilities, continuing their existing collaboration. BrainBox AI’s leadership, including CEO Sam Ramadori and Co-founder/CTO Jean-Simon Venne, will remain, and its operations will stay in Montreal. The deal is expected to close in early 2025.

Stikeman Elliott advised Trane Technologies, while Osler, Hoskin & Harcourt LLP advised BrainBox AI. Financial terms were not disclosed.

The deal was completed on January 3, 2025.