Energy utility ESB will exit Cylon Controls, an Ireland-based building control system spinout of University College Dublin, in an acquisition of undisclosed size by power and automation group ABB agreed yesterday.
Founded in 1985, Cylon markets a range of control interfaces such as fuse boxes, energy meters and heating and air ventilation (HVAC) controls for buildings in the residential and commercial sectors.
The company’s offering includes a real-time, analytics-based software portal where building operators can gauge and restrain energy usage through features such as visualisation and trigger-activated alarms.
ABB expects Cylon to augment its existing range of products for commercial buildings, enhancing its appeal in terms of energy optimisation and comfort.
ESB Novusmodus Fund, a cleantech-focused corporate venturing vehicle for Irish state-run ESB, had invested about $9.5m in the company in 2014.
The original version of this article appeared on our sister site, Global University Venturing.