US-based energy storage project developer and software company Demand Energy has been acquired by Italian utility company Enel.
Software for energy storage systems will be a mixture of in-house solutions by integrator/ developers and third-party providers, in an industry segment set for a steep rise in value, according to one expert.
Involvement from billionaire Peter Thiel in Stem’s Series C indicates a shared belief among investors that “distributed, intelligent storage is going to absolutely revolutionise the electric grid over the coming decades”, the company’s marketing director has said.