ABB has acquired Lumin, a U.S.-based leader in energy management systems, to bolster its residential energy solutions portfolio in North America. This move follows ABB’s minority investment in Lumin in 2023, with financial details remaining undisclosed.
The acquisition integrates Lumin’s advanced electrification, solar, and storage solutions into ABB’s offerings, positioning the company to meet rising demand for home electrification in the U.S., where approximately 48 million homes need upgrades for electrification. The inclusion of Lumin’s technology further strengthens ABB’s ability to cater to new construction projects and other markets in the region.
Lumin, known for its innovative energy management systems, offers a versatile platform compatible with various brands of load centers, batteries, and generators. It provides in-depth insights into energy consumption and optimizes energy loads such as electric vehicle chargers, heat pumps, and other appliances, promoting efficiency and sustainability.
This acquisition aligns with ABB’s strategy to grow its presence in the North American residential market, where renewable energy and electrification trends drive increasing demand. By incorporating Lumin’s hardware and cloud-based software, including a mobile app for users, ABB aims to deliver smarter, safer, and more eco-friendly energy management solutions. “With electrification rapidly transforming North America, we are thrilled to welcome Lumin into the ABB family,” said Mike Mustapha, President of ABB Electrification’s Smart Buildings Division.
Electricity accounts for 44% of residential energy use in the U.S. and nearly 46% in Canada. These figures are projected to grow, with U.S. residential electricity consumption expected to rise by 14% to 22% between 2022 and 2050. ABB sees this as an opportunity to make all-electric homes more affordable and energy-efficient.
Alex Bazhinov, Lumin’s Founder and President, expressed enthusiasm about the partnership, stating, “Joining ABB provides us with the platform to expand our solutions and make energy management more accessible to homeowners. Together, we can drive innovation and sustainability.”
Founded in 2016, Lumin specializes in intelligent load management, transforming traditional electrical panels into smart energy systems. Based in Charlottesville, Virginia, the company is committed to delivering reliable and efficient solutions to create sustainable, electrified communities.
ABB, a global leader in electrification and automation, has over 140 years of expertise and more than 105,000 employees worldwide. The company focuses on advancing sustainable technologies and is dedicated to supporting the transition to a more energy-efficient future.
