Stem, Inc. develops AI-driven energy storage systems and operates Athena, an AI platform for customer-sited storage and virtual power plants that optimizes real-time energy use and peak-demand reduction. The company sells fully financed energy storage solutions and participates in energy markets to deliver cost savings and decarbonization benefits. Stem has the largest project finance pool among peers, now over US$650 million, and manages 860 energy storage systems across five U.S. states plus Japan and Canada. The company is expanding into Ontario with a C$200 million commitment from Ontario Teachers' to finance acquisitions of storage projects for industrial customers. Stem expects the Ontario project funds to be fully deployed within the next 12 months and to offer long-term, customer‑site financing to lower energy bills and peak-demand charges. Headquartered in Millbrae, California, Stem is backed by a consortium of strategic and financial investors referenced in its Series D and corporate materials. Stem develops AI-driven energy storage and virtual power plant software (Athena) to optimize timing of energy use and enable participation in energy markets. Its platform manages customer-sited storage and forms networks for capacity and grid services, with partnerships across utilities and commercial providers. As of the article Stem reported over 1,100 sites operational or in construction with an average system size of 500 kWh, a portfolio of 200 MWh, and hundreds of systems under management across five U.S. states and in Japan and Canada. Stem has deployed standalone PowerMonitor controls at 330 locations and has had Athena dispatch over 600 times into the California wholesale market. The company offers market-specific services such as a Global Adjustment offering for Ontario and bundled offerings with CPower, Constellation, and Sunpower. Headquartered in Millbrae, California, Stem says its mission is to build and operate the smartest and largest digitally-connected energy storage network. Stem provides software-driven energy storage and a storage-as-a-service model that lets commercial and industrial customers subscribe with no upfront equipment or installation costs. Its software combines big data and predictive analytics with lithium-ion battery systems to reduce electricity costs and to aggregate distributed capacity for grid services. Stem says its fleet has more than 75 MWh deployed or under contract across more than 480 U.S. locations, serving customers such as Safeway, Wells Fargo, and Adobe. The company’s solutions lower monthly electricity bills by up to 20 percent and enable customers to earn revenue from grid services. Stem created the energy storage project financing model in 2013 and uses third-party project financing to broaden adoption of its technology. The company is headquartered in Millbrae, California, and is funded by a consortium of investors that includes Angeleno Group, Iberdrola (Inversiones Financieras Perseo), GE Ventures, Constellation Technology Ventures, Total Energy Ventures, Mitsui, RWE Supply & Trading, and Mithril Capital Management. Stem provides intelligent energy storage that combines big data, predictive analytics and battery systems to reduce electricity costs for businesses and deliver services to the grid. The company has surpassed 68 MWh of systems operating and under contract and its fleet includes batteries from Samsung and Panasonic as well as Tesla Powerpack systems. Stem’s software platform is informed by more than 2 million field runtime hours and its network spans over 440 facilities in California and Hawaii, including Fortune 500 customers such as Wells Fargo, Safeway, Whole Foods and Reliance Steel. Utilities and grid operators including Southern California Edison, San Diego Gas & Electric and the Hawaiian Electric Company can call upon Stem’s customer‑sited systems, and the company leads in bidding into CAISO real-time and day-ahead markets. Stem recently strengthened its leadership team by hiring Larsh Johnson as CTO to drive software and hardware product development. Headquartered in Millbrae, California, the company emphasizes “storage as a service” to scale smart storage integration and grid resilience. Stem combines energy storage hardware with software that uses big data and predictive analytics to optimize customer energy use and reduce electricity bills. Its customer‑sited systems operate without impacting daily operations while aggregating capacity to provide rapid, flexible services to grid operators. The aggregated network helps ease renewable integration and enhance grid stability. Stem is headquartered in Millbrae, California. The company is pursuing global expansion and is evaluating new markets with support from strategic investors. Recent financing activity (a Series C) strengthened its balance sheet and investor base.

Total raised

$383M

Funding rounds

9

Latest round

Series D

Latest activity

Jul 2018