Energy storage system and services firm Stem Inc grew revenues to US$93 million in the second quarter of 2023, and reduced its EBITDA loss by 15% to US$8.5 milllion.

‘Smart’ energy storage provider Stem finished the first quarter of 2022 with an order backlog worth in excess of a half-billion dollars.

Stem Inc, which offers commercial and industrial (C&I) customers battery storage systems to lower their energy costs, has partnered with Canadian state-owned utility Ontario Power Generation to offer Ontario businesses ‘no-money-down’ energy storage solutions.

Stem’s virtual power plants (VPPs) have been utilised to provide emergency demand response services in California during a major heatwave.

Austin Energy, a publicly-owned electric utility in Texas, is delivering megawatt-scale storage systems as part of the US Department of Energy’s Sustainable and Holistic Integration of Energy Storage and Solar PV (SHINES) project.

A 1MW ‘virtual power plant’ part-funded by the Pacific International Center for High Technology Research (PICHTR), utilising energy storage across 29 customer sites, has been connected in O’ahu, Hawaii, by Stem.

Total Energy Ventures to support AutoGrid’s flexibility management applications for residential, commercial and industrial customers, joining quartet of venture capital firms that committed US$20 million in May.

Storage provider Stem adds US$100 million to its kitty of project funds, as energy investor Starwood Energy backs its roll out of intelligent storage for commercial venues.

The California Public Utilities Commission (CPUC) has issued a landmark resolution that requires a major utility to procure energy storage capacity as quickly as possible.

Hawaii has been namechecked as a ‘test bed’ for how grids can migrate to higher levels of PV penetration so often it has become something of a cliché. Stem’s VP for Hawaii operations, Tad Glauthier tells ESN about the projects that are going on, which lessons might be transferable to other regions – and which might not.