Battery storage and VPP developer Stem is seeking buyer

February 07, 2020
Owning the Energy Transition More...
by Benjamin Torda
Very important

A leader in the C&I battery storage market is reportedly seeking a buyer after closing a $106 million Series D round in 2018 (total raised is over $200 million). Stem develops energy storage systems that use predictive analytics for demand charge management and are aggregated into virtual power plant (VPP) networks. While not pivoting as drastically into software-driven energy service (see competitor AMS), Stem has built up its software, partnered with equipment distributors (see its announcement with BayWa r.e.), and recently secured its first front-of-the-meter projects. Energy storage is increasingly crowded, with majors like EDF entering the game; clients should view Stem as having a critical head start and should consider engaging.

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