![]() Athena™ by Stem is the first AI for energy storage and virtual power plants. Stem creates innovative technology services that transform the way energy is distributed and consumed. Athena™, Stem’s cutting-edge AI, is the first of its kind for customer-sited energy storage, performing real-time energy optimization that reduces onsite peak demand and enabling customers to participate via Stem’s networks to access additional services and value streams. Stem has the largest project finance pool among its peers, now over US$650 million, enabling Stem’s 860 energy storage systems under management across five states and three countries (U.S., Japan, and Canada). Stem entered the Canadian market in January 2018 with its Global Adjustment offering-specifically designed for Ontario-which is ideal for large manufacturing plants and other industrial operations that seek improved control over energy costs. Ontario Teachers’ believes there is significant value in providing a firm and competitive financing solution for industrial customers in Ontario.” Ontario Teachers’ Senior Managing Director Dale Burgess commented: “Stem represents a proven first mover in the storage sector with an innovative solution that drives value for its customers. “Moreover, Stem continues to attract top-tier international asset management interest in our ability to transform electricity grids with vast energy storage networks and our superior artificial intelligence platform.” “Our project financing partnership with Ontario Teachers’ enables us to further invest in Ontario and present customers with a stable, long-term offer to drive down energy consumption costs,” said John Carrington, CEO of Stem, Inc. ![]() Stem and its partners anticipate the funds to be fully utilized within the next 12 months. With the expansion of corporate and project equity, Ontario Teachers’ will help Stem deliver fully-financed energy storage systems for its customers in Ontario to lower their energy bills and reduce their Global Adjustment, or peak-demand costs. Today’s second close brings Stem’s total Series D round to nearly US$110 million. Stem also announced its second close of Series D financing with an additional US$26 million investment, led by BNP Paribas and Magnesium Capital among other investors. ![]() ![]() Using predictive analytics and high speed data feeds from the buildings, weather services, and the wholesale market to anticipate IESO grid peak hours, Stem’s AI, Athena, releases stored energy at exactly the right times to help Stem’s customers.MILLBRAE, Calif., J(GLOBE NEWSWIRE) - Stem, Inc., the global leader in artificial intelligence (AI)-powered energy storage, today announced that Ontario Teachers’ Pension Plan (Ontario Teachers’), an original Series D investor, has provided the company with a C$200 million commitment to finance the acquisition of AI-driven energy storage projects in the Ontario market. ![]() Stem’s use of AI is a clear advantage to industrial customers-with the ability to control energy storage charging and dispatching operations around highly-sensitive and high-safety equipment, while providing automated savings. Stem’s Global Adjustment offering-specifically designed for Ontario-is ideal for large manufacturing plants and other industrial operations that seek improved control over energy costs and a way to make the electric grid more sustainable. Stem’s AI-driven energy storage system will be over 3 MWh and sited at Solvay’s Welland manufacturing plant located in Niagara Falls, Canada, where the firm manufactures phosphine for use in consumer electronics and other high-end applications. With Stem’s services, Solvay will reduce their Global Adjustment and energy costs automatically-without changing plant operations or making a capital investment.īased in Belgium, Solvay manufactures advanced materials and specialty chemicals for a wide range of industries, including the renewable energy and energy storage industries. Stem, a provider of AI-driven energy storage services, is deploying an intelligent energy storage system for Solvay’s plant in Welland, Ontario. ![]()
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