Stem Honored for Innovations in Intelligent Storage
MILLBRAE, Calif., Jan. 16, 2020 (GLOBE NEWSWIRE) — Stem, Inc., the global leader in artificial intelligence (AI)-driven energy storage services, was named a 2020 Global Cleantech 100 company by Cleantech Group for the sixth year.
The 2020 Global Cleantech 100 is the 11th edition of the respected annual guide to the leading companies and themes in sustainable innovation. It features the private, independent and for-profit companies best positioned to contribute to a more digitized, de-carbonized and resource-efficient industrial future.
“We are honored to once again be among 2020’s top cleantech companies, who are building the foundation for a more energy efficient, sustainable future,” said Stem CEO John Carrington. “The growing demand for increased energy choice and control, combined with the focus on lessening society’s impact on the environment, have set the stage for innovations like Stem’s intelligent storage. There is a great opportunity now for leveraging storage to reduce carbon footprints, manage energy expenses, unlock new value streams and protect against public outages.”
For more than a decade, Stem has been at the forefront of making energy infrastructure more adaptive, strategically using storage as a lever for how energy is distributed and consumed. Stem combines advanced energy storage with world-class artificial intelligence (AI)-powered analytics that enable customers to optimize power usage and monetize flexible energy storage. Central to this is the Athena® AI platform, with more than 10 million runtime hours enabling enterprises to optimize energy use by automatically switching between battery power, onsite generation and grid power without disrupting the customer operations. To date, Stem has more than 600 operating projects and 300 MW enrolled in its network.
The list combines Cleantech Group’s research data with qualitative judgements from nominations and insight from a global 80-member expert panel of leading investors and executives from corporations and industrials active in technology and innovation scouting. From pioneers and veterans to new entrants, the expert panel broadly represents the global cleantech community and results in a list with a powerful base of respect and support from many important players within the cleantech innovation ecosystem. The Global Cleantech 100 program is sponsored by Chubb.
“It feels right that our first list of the future-defining 2020s, should see a continued strengthening in the representation of truly impactful and necessary innovations to transform our diets, to enable a more renewable-heavy energy system and to capture and utilize the vast levels of CO2 we have been freely emitting for decades,” said Richard Youngman, CEO of Cleantech Group. “Also included in our 2020 list are some big and critical shots at solving global problems – from proving out fusion and next-gen batteries to zero carbon aviation.”
About Stem, Inc.
Stem provides solutions that address the challenges of today’s dynamic energy market. By combining advanced energy storage solutions with Athena® AI, a world-class artificial intelligence (AI)-powered analytics platform, Stem enables customers and partners to optimize energy use by automatically switching between battery power, onsite generation and grid power. Stem’s solutions help enterprise customers benefit from clean, adaptive energy infrastructure and achieve a wide variety of goals, including expense reduction, resilience, sustainability, environmental and corporate responsibility and innovation. Stem also offers full support for solar partners interested in adding storage to standalone, community or commercial solar projects – both behind and in front of the meter.
Headquartered in Millbrae, Calif., Stem is directly funded by a consortium of leading investors including Activate Capital, Angeleno Group, BNP Paribas, Constellation Technology Ventures, Iberdrola (Inversiones Financieras Perseo), GE Ventures, Magnesium Capital, Mithril Capital Management, Mitsui & Co. LTD., Ontario Teachers’ Pension Plan, RWE Supply & Trading, Temasek and Total Energy Ventures. For more information, www.stem.com.
About Cleantech Group
Cleantech® Group provides research, consulting and events to catalyze opportunities for sustainable growth powered by innovation. At every stage from initial strategy to final deals, we bring corporate change makers, investors, governments and stakeholders from across the ecosystem the access and customized support they need to thrive in a more digitized, de-carbonized and resource-efficient future.
The company was established in 2002 and is headquartered in San Francisco with a growing international presence in London. Our parent company, Enovation Partners, is based in Chicago.
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