Stem Inc claimed to be on track to achieve its 2021 full year revenue guidance of US$147 million, after reporting a year-over-year increase in revenues of 245% for the first quarter ending 31 March.
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.
Equity investors have already committed more than US$300 million to lithium battery recycler Li-Cycle’s plan to go publicly-listed through a special purpose acquisition company (SPAC) merger.
Inverter manufacturer Sungrow, which is rapidly becoming also known for its energy storage systems (ESS), will be supplier for Stem Inc.’s forthcoming large-scale solar-plus-storage projects in Massachusetts.
Investment into the Ontario market for commercial energy storage has received another big boost, with US energy storage provider Stem Inc announcing today a significant cash injection from the Ontario Teachers’ Pension Plan group.
The commercial and industrial segment is one of the most promising sub-sectors of the energy storage space. Julian Jansen of IHS Markit describes recent efforts to model the US C&I storage landscape and what it reveals about this dynamic emerging market. As told to Andy Colthorpe.
The CEO of ‘intelligent energy storage’ provider Stem Inc, has said a recently-awarded project in Japan will lean on business models the company has used in the US, while artificial intelligence (AI) technology makes that same transference possible.
Japanese trading house Itochu has invested £5 million (US$7.04 million) into UK-based energy storage and related services provider Moixa, which will enable Itochu to add Moixa’s ‘GridShare’ aggregation platform to its own suite of battery storage solutions.
Stem Inc, self-described as a supplier of “artificial intelligence-powered” energy storage, which deployed a system on average every two days last year, has closed a US$80 million Series D financing round.
