Open Letter about COVID-19

Dear customers, partners and friends,

As we persevere together in the face of the COVID-19 global pandemic, I want to share with you Stem’s ongoing commitment to supporting our customers and business partners, while also helping to keep our communities safe.

A primary focus for us, as for all of you, is the safety and security of our employees and their loved ones, the communities in which we operate, and doing our part to minimize spread of the virus. As a company headquartered in the Bay Area, we are currently in remote-work mode, and are monitoring the latest information and regulations from the CDC and state agencies.

At the same time, we remain fully operational and available to support our customer and partner business needs, and we keenly feel more than ever Stem’s role in assuring safe, reliable availability of energy. We are fortunate that resilience is core to the Stem DNA, and we have solid business continuity plans to ensure continuous availability of our solutions across a range of challenging situations. The leadership team has been meeting daily to manage our response, and employees remain dedicated to supporting our energy storage network and your installations.

Stem’s storage systems are managed by Athena, our cloud-based platform that securely and automatically controls the over 1,000 systems in operation at our customers’ sites. Stem’s Network Operations Center along with Stem’s DevOps teams have always remotely managed these systems so the current environment does not pose a risk. With remote work they are leveraging collaboration tools such as open video conferencing and messaging to continue their daily teamwork in support of these solutions. In the field, our network of regional partners are providing local support, avoiding travel and maintaining safe social distance practices. On the supplier side, we have ongoing relationships with vendors in the United States, Korea and China. This diversified supply chain strategy positions us well, and we are monitoring production and delivery impacts daily.  Combined, these steps will enable us to continue managing and operating one of the world’s largest networks of energy storage systems across more than 1,000 sites enabling customers and partners to continue optimizing their use of energy through intelligent storage.

Moving forward, our strong financial position and solid partner relationships will enable us to manage the current situation for its duration. We had a record year in 2019 across all aspects of the business, and as we emerge from the current crisis, the customer requirements fueling our success – controlling cost, reducing risk, improving resilience and enhancing sustainability – will be more important than ever.

On a personal note, I want to say how proud I am of the extraordinary Stem team. Their dedication to the needs of our customers has always been paramount, and they are responding to this situation with a calm resolve to continue supporting every customer and each other. We will be there for you.

I wish you continued health, safety and prosperity over the coming weeks.

Sincerely,

John E Carrington, Stem CEO