LONDON & NEW YORK & STOCKHOLM–(BUSINESS WIRE)–Tallarna, an award-winning climate technology company for the built environment, today announced that it has entered into a strategic partnership and minority investment agreement with ABB, a technology leader in electrification and automation. This signals a shared commitment to a software-driven, risk-managed approach to accelerating net zero.
ABB’s solutions connect engineering know-how and software to optimize the way things are made, moved, powered and operated. Building on more than 130 years of excellence, the company’s expertise will be essential for the next stage of Tallarna’s growth.
Since its launch four years ago, Tallarna has built a talented and loyal team and has seen widespread traction in the property sector – encompassing social housing providers, energy infrastructure developers and green lenders. With ABB’s support, the company’s scope will be extended to energy service companies (ESCOs) serving commercial and industrial organizations.
Tallarna’s AI platform, KESTREL, brings decarbonization projects to life by aligning what can be technically achieved with what can be insured and financed. By finding commonalities between decision makers, the company opens the door to a new era of scalability. Tallarna’s software is integrated with the related underwriting processes of AmTrust Financial Services, an international property and casualty insurer, which is also an existing investor. Together, the companies have created a Energy savings insurance product that provides clients with access to project investors integrated into the Tallarna platform.
As the climate and energy crisis deepens, policymakers need the right tools to reduce their emissions and operating costs. ABB’s in-depth knowledge of equipment performance and innovative electrification technology will enhance Tallarna’s existing capabilities. Combining ABB products with performance assurance will give customers the confidence to embark on their sustainability journey.
“Never before has there been such a need for clear information on decarbonization opportunities and how to achieve them. Cross-industry collaboration is key to ensuring a sustainable future for all. As such, we are excited to work more closely with the Tallarna team and support their market launch of ESCOs,” Giuseppe CasagrandeGlobal Digital Leader at ABB Electrification, Smart Power Division.
“As a company, our mission is to foster sustainability in all its forms – environmental, economic and social. ABB shares this view, and we are delighted to work with them to close the gaps in awareness, trust and execution faced by customers,” Tim MeanockCEO of Tallarna.
ABB’s investment and partnership will guide Tallarna in market growth – taking decarbonization to new heights for commercial, industrial and energy infrastructure providers.
ESCO customers will benefit in 4 main ways:
Lowering the barrier to entry for decarbonization projects
Tallarna understands customer decarbonization options using minimal data and, initially, without the need for connected devices. This capability will be complemented by ABB’s knowledge of innovative industrial energy optimization solutions.
Indicate a path to scale for client projects
KESTREL translates engineering challenges into risk metrics and is used to underwrite and distribute energy savings insurance. By adding ABB’s insights to this modeling, companies will further mitigate risk while reducing costs and carbon emissions. Removing performance risk from ESCOs and building owners encourages greater project reach and facilitates a service model, paving the way for scale.
Enable the market to move faster by overcoming obstacles to execution
Guaranteed energy yields can be financed, with savings on the bill reimbursing project costs. Not only does this provide new sources of funding for developers, but it creates financial assets for Tallarna’s project investor panel. This provides a key mechanism for enforcement.
Ensure security of technology supply and performance
Tallarna may specify appropriate technology products at the exploration stage of the project. These include offers from a range of suppliers, including ABB. The technology is pre-validated for insurance and financing terms, and can be integrated to provide security of supply, performance and price.