Climate Tech StartUp Tallarna Receives Funding from ABB
ABB is expanding its portfolio of user-friendly energy management technology through a strategic agreement with Tallarna Ltd., a UK-based climate tech start-up.
Tallarna has come up with a new way to reduce carbon emissions for large property portfolios and energy infrastructure by using AI-powered data analytics. Customers can see the viability of energy optimisation solutions, as well as the availability of performance insurance and third-party financing, on a single platform.
ABB's venture capital unit, ABB Technology Ventures (ATV), will make a small investment in Tallarna as part of the partnership.
Tallarna's data analytics identify decarbonisation projects and assess their cost-benefit ratio. The programme is connected with the corresponding underwriting processes of AmTrust Financial, a global specialty insurer with an AM Best rating of A-. Through Tallarna's platform, guaranteed energy savings are used to generate long-term, efficient funding and pay back project costs.
“Companies are looking for investments that will deliver clean energy, cost savings, and additional resilience,” said Giampiero Frisio, President, Smart Power Division at ABB. "We need technology that provides decision-makers with clear priorities, simpler funding models involving financial institutions, and shorter time to access capital with better confidence about financial returns and operating costs to enable organisations to deliver on their sustainability commitments." We will work with Tallarna to develop their technology’s capabilities for industrial applications.”
Tim Meanock, CEO and co-founder of Tallarna, said:
"We started Tallarna to speed up decarbonisation in the built environment and help the whole value chain, from funders to end users. Our software makes large-scale decarbonisation financially executable by translating technical risks into financial ones – turning optimisation projects into financial assets for funders. Working with ABB will provide us with valuable industry insights and enhanced digital capabilities that will empower commercial and industrial organisations."