Partner Content Library

Stem University Login

  • Customers
    • Enterprise
    • Commercial & Industrial
    • Investor-owned Utilities
    • Public Power & Municipal Utilities
    • Electric Cooperatives
    • Project Developers
    • Solar EPCs
    • IPPs and Asset Owners
    • Federal
  • Solutions
    • Energy Storage
    • Solar Plus Storage
    • Wholesale Energy Markets
    • Microgrids and Backup Power
    • Utility Bill Optimization
    • Demand Response
    • Commercial EV Charging
    • Sustainability
    • Professional Services
  • Athena AI
  • Case Studies
  • Partners
    • Why Stem
    • Partner Program
    • Distributors
    • Stem University
    • Partner Log In
  • About
    • About Stem
    • AlsoEnergy Acquisition
    • Leadership
    • Environmental, Social, Governance
    • Careers
    • Contact Us
  • Resources
    • Incentives & Programs
      • Federal Storage ITC & Solar PTC
      • National Electric Vehicle Infrastructure Program
      • California’s Energy Storage Opportunities
      • Connecticut Energy Storage Solutions Program
      • Hawaiian Electric’s Battery Bonus Program
      • Massachusetts SMART
      • New York VDER
      • Ontario Global Adjustment
    • Newsroom
    • Events
    • Webinars
    • FAQ
    • Blog
    • Library
    • Newsletter
  • Investors
  • Stem University Login
  • Partner Content Library
  • Request a Quote
Search
START TYPING AND PRESS ENTER TO SEARCH
  • Customers
    • Enterprise
    • Commercial & Industrial
    • Investor-owned Utilities
    • Public Power & Municipal Utilities
    • Electric Cooperatives
    • Project Developers
    • Solar EPCs
    • IPPs and Asset Owners
    • Federal
  • Solutions
    • Energy Storage
    • Solar Plus Storage
    • Wholesale Energy Markets
    • Microgrids and Backup Power
    • Utility Bill Optimization
    • Demand Response
    • Commercial EV Charging
    • Sustainability
    • Professional Services
  • Athena AI
  • Case Studies
  • Partners
    • Why Stem
    • Partner Program
    • Distributors
    • Stem University
    • Partner Log In
  • About
    • About Stem
    • AlsoEnergy Acquisition
    • Leadership
    • Environmental, Social, Governance
    • Careers
    • Contact Us
  • Resources
    • Incentives & Programs
      • Federal Storage ITC & Solar PTC
      • National Electric Vehicle Infrastructure Program
      • California’s Energy Storage Opportunities
      • Connecticut Energy Storage Solutions Program
      • Hawaiian Electric’s Battery Bonus Program
      • Massachusetts SMART
      • New York VDER
      • Ontario Global Adjustment
    • Newsroom
    • Events
    • Webinars
    • FAQ
    • Blog
    • Library
    • Newsletter
  • Investors
  • Stem University Login
  • Partner Content Library
  • Request a Quote
Search

Stem, Inc. Expands into Ontario with $200M Commitment From Ontario Teachers’

  • July 23, 2018

New investors complete Stem’s corporate Series D second close at $110M

MILLBRAE, Calif., July 24, 2018 (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 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. Today’s second close brings Stem’s total Series D round to nearly US$110 million.

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. Stem and its partners anticipate the funds to be fully utilized within the next 12 months.

“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. “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.”

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. Ontario Teachers’ believes there is significant value in providing a firm and competitive financing solution for industrial customers in Ontario.”

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.

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). 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.

About Stem, Inc.
Stem creates innovative technology services that transform the way energy is distributed and consumed. Athena® by Stem is the first AI for energy storage and virtual power plants. It optimizes the timing of energy use and facilitates consumers’ participation in energy markets, yielding economic and societal benefits while decarbonizing the grid. The company’s mission is to build and operate the smartest and largest digitally-connected energy storage network for our customers. Headquartered in Millbrae, California, 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. Visit www.stem.com for more information.

About Ontario Teachers’ Pension Plan
The Ontario Teachers’ Pension Plan (Ontario Teachers’) is Canada’s largest single-profession pension plan, with $189.5 billion in net assets at December 31, 2017. It holds a diverse global portfolio of assets, approximately 80% of which is managed in-house, and has earned an average annualized rate of return of 9.9% since the plan’s founding in 1990. Ontario Teachers’ is an independent organization headquartered in Toronto. Its Asia-Pacific region office is located in Hong Kong and its Europe, Middle East & Africa region office is in London. The defined-benefit plan, which is fully funded, invests and administers the pensions of the province of Ontario’s 323,000 active and retired teachers. For more information, visit otpp.com and follow us on Twitter @OtppInfo.

Media Contact
Leslie Green
The Bulleit Group for Stem
415-742-1894
Stem@bulleitgroup.com

© 2018 Stem, Inc. All Rights Reserved. Stem and the Stem logo are registered trademarks of Stem Incorporated in the U.S.

Let's talk.

Contact the experts at Stem and learn how to simplify your clean energy management.

Stem HQ: 100 California
St 14th Floor San
Francisco, CA 94111

For Support or Sales
inquiries, call 877-374-7836(STEM).

  • You may unsubscribe from these communications at any time. For more information on how to unsubscribe, our privacy practices, and how we are committed to protecting and respecting your privacy, please review our Privacy Policy.

Let's talk.

Contact the experts at Stem and learn how to simplify your clean energy management.

Stem HQ: 100 California
St 14th Floor San
Francisco, CA 94111

For Support or Sales
inquiries, call 877-374-7836(STEM).

  • You may unsubscribe from these communications at any time. For more information on how to unsubscribe, our privacy practices, and how we are committed to protecting and respecting your privacy, please review our Privacy Policy.

Stem Logo
Twitter Linkedin-in
Copyright © 2023 Stem, Inc.
Privacy Policy | Terms of Use

Customers

  • Enterprise
  • Commercial & Industrial
  • Investor-owned Utilities
  • Public Power & Municipal Utilities
  • Electric Cooperatives
  • Project Developers
  • Solar EPCs
  • IPPs & Asset Owners
  • Federal

Solutions

  • Energy Storage
  • Solar Plus Storage
  • Wholesale Energy Markets
  • Microgrids And Backup Power
  • Utility Bill Optimization
  • Demand Response
  • Commercial EV Charging
  • Professional Services
  • Sustainability

Incentives & Programs

  • Federal Storage ITC
  • National Electric Vehicle Infrastructure Program
  • California’s Energy Storage Opportunities
  • Connecticut Energy Storage Solutions Programs
  • Hawaiian Electric's Battery Bonus Program
  • Massachusetts SMART
  • New York VDER
  • Ontario Global Adjustment

Partners

  • Why Stem
  • Partner Program
  • Distributors
  • Stem University
  • Partner Log In

About

  • About Stem
  • AlsoEnergy Acquisition
  • Leadership
  • Environmental, Social, Governance
  • Careers
  • Contact Us

Resources

  • Case Studies
  • Newsroom
  • Events
  • Webinars
  • FAQ
  • Blog
  • Library
  • Newsletter

If you have a Showpad login for Stem University
Access Stem University Here

If you do not have a Showpad login for Stem University
Register Here

If you already have access to the Partner Content Library, click here:

Enter The Partner Content Library

Not a partner yet? Become a partner

If you are a registered partner and need access, please click here.