Constellation and Stem Win MA CEC ACES Award
December 7, 2017 – Today, Massachusetts awarded the Constellation-Stem team one of the largest grants of the Energy Storage Initiative (ESI) Advancing Commonwealth Energy Storage (ACES) program. The $1.25M Constellation-Stem grant was the only award made in the “Load Serving Entity (LSE)/Competitive Electricity Supplier Portfolio Optimization” category.
With the grant’s support, Constellation and Stem will deliver energy storage services to commercial and industrial customers, enabling those customers to reduce their energy costs, while providing peak load reduction for the Commonwealth. Stem joined our partner, Constellation, in today’s program announcement to celebrate the program kickoff.
The Massachusetts ACES program is funded by the Department of Energy Resources (DOER) through Alternative Compliance Payments (ACP) and administered by the Massachusetts Clean Energy Center (MassCEC).
About Stem, Inc.
Stem creates innovative technology services that transform the way energy is distributed and consumed. The company’s mission is to build and operate the largest digitally connected energy storage network for our customers. Our world class analytics optimize the value of customer’s energy assets and facilitate their participation in energy markets, yielding economic and societal benefits while decarbonizing the grid. Headquartered in Millbrae, California, Stem is funded by a consortium of leading investors including Angeleno Group, Iberdrola (Inversiones Financieras Perseo) GE Ventures, Constellation Technology Ventures, Total Energy Ventures, Mitsui & Co. LTD., RWE Supply & Trading, and Mithril Capital Management. Visit www.stem.com for more information.