Stem Inc’s shares begin trading on the New York Stock Exchange today, after the “artificial intelligence-driven clean energy storage services” company completed its business combination with special purpose acquisition company (SPAC) Star Peak Energy Transition Corp.
Tesla CEO Elon Musk has said that the company is already achieving “good margins” on the residential Powerwall product, but that “some additional work is needed” for its utility-scale Megapack to do so.
US$300 million in new funding from Manulife Investment Management will enable CleanCapital, a clean energy investment platform mostly focused on distributed solar, to also provide “long-term, flexible capital” to energy storage developers.
To reduce strain on the grid as renewable power and demand both grow, two New York utility companies have awarded contracts for flexible demand management to commercial and industrial (C&I) energy management specialist CPower.
Energy storage developer Convergent Energy + Power has signed a long-term agreement with grocery store chain Tops Friendly Market for three large-scale community solar-plus-storage facilities in upstate New York.
Powin Energy yesterday officially launched its first high voltage battery storage product, with the Oregon-headquartered battery energy storage solutions provider claiming that 500MWh of customer orders have already been contracted for it.
Energy storage technology provider Fluence and battery gigafactory startup Northvolt will collaborate to develop “next-generation battery technology for grid-scale storage applications,” the companies said today.
Corporate funding into the battery storage sector in the first quarter of this year totalled US$4.7 billion across 17 deals, a huge leap from the equivalent period of last year, according to a new report from Mercom Capital.
