Stem Inc Stock Price, News & Analysis

Stem, a leader in AI-driven energy storage, reported the successful dispatch of over 500 MWh of energy during June's heat waves across the U.S. and Canada. Utilizing its Athena® software, Stem responded to nearly 4,000 site events in ten utility programs, supporting grid stability during peak demand. The company has a total of 950 systems representing approximately 1.1 GWh contracted or operational. Stem’s services are vital for utilities managing energy demands without disrupting customer operations.

Stem, Inc. (NYSE: STEM), a leader in AI-driven clean energy storage, has been added to the Russell 2000 Index, emphasizing its growth potential in the ESG investment landscape. This index reconstitution highlights Stem's alignment with investor interests in energy storage amidst a rapidly expanding market. The company offers advanced battery storage solutions through its Athena software, aiming to lower energy costs and enhance sustainability for enterprise clients. With $10.6 trillion in assets benchmarked to Russell Indexes, Stem's inclusion could enhance its visibility and growth prospects.

Stem, Inc. (NYSE: STEM) has entered into a partnership with Altus Power America to provide smart energy storage services for a 2.9 MW solar project in New Marlborough, Massachusetts. This project, utilizing Stem's Athena™ AI platform, aims to enhance clean energy delivery and optimize economic benefits during peak demand. With over 180 MWh of storage capacity deployed since 2017, Stem continues to establish a significant presence in the Massachusetts energy market, which is projected to grow further in 2021.

Stem, Inc. (NYSE: STEM) announced its participation in the Cowen Sustainability and Energy Transition Summit, set for June 9, 2021, at 11:50 AM EST. The event will feature a live webcast, accessible through registration. Stem integrates AI-driven solutions for energy storage, aiming to optimize energy usage and support sustainability goals. The company's platform, Athena™, is designed to enhance energy infrastructure, benefiting enterprise customers with cost reductions and increased resilience. A replay of the webcast will be available until September 8, 2021.

Stem, a leader in AI-driven clean energy storage, has partnered with Ameresco to provide smart energy storage for a battery project with Holy Cross Energy in Colorado. The project aims to support HCE's goal of sourcing 100% renewable electricity by 2030 and is expected to reduce greenhouse gas emissions by approximately 6,853 metric tons annually. Stem's Athena platform will optimize energy resource integration, enhancing efficiency for both HCE and Colorado Mountain College as it advances towards carbon neutrality by 2050.

Stem, a leader in AI-driven clean energy storage services, announced its participation in several upcoming virtual investor conferences. Key events include the BofA Securities Clean Energy Conference on May 27, Cowen Sustainability and Energy Transition Summit on June 9, Goldman Sachs Solar and Storage Symposium on June 17, and JP Morgan Energy, Power & Renewables Conference on June 22, 2021. Stem leverages its advanced Athena platform to help clients optimize energy usage, enhance sustainability, and support solar initiatives.

Stem, Inc. (NYSE: STEM) has appointed Matt Tappin as Vice President of Corporate Development, enhancing its executive team as it pushes forward with its inorganic growth strategy. Tappin brings extensive experience from Royal Dutch Shell and Centrica, focusing on corporate strategy and mergers and acquisitions (M&A). His expertise aligns with Stem's objectives amidst growing demand for energy storage solutions driven by governmental and corporate sustainability commitments. CEO John Carrington emphasizes Tappin's role in leveraging Stem’s robust balance sheet to capitalize on strategic opportunities.

Stem, Inc. (NYSE: STEM) announced the appointment of Saul Laureles as Chief Legal Officer and Corporate Secretary. With over 20 years of legal and strategic experience, Laureles will oversee the Company's global legal function, including corporate governance and M&A compliance. Formerly at Schlumberger, he managed legal matters affecting corporate governance and securities law. CEO John Carrington expressed confidence in Laureles’ leadership during this critical phase for Stem. Laureles aims to support Stem’s growth strategy as it transitions into a newly-public entity.

Stem, a leader in AI-driven clean energy storage, reported Q1 2021 revenues of $15.4 million, a 275% increase from $4.1 million last year. Gross Margin improved significantly with a Non-GAAP Gross Margin of 19%. However, net losses rose to $(82.6 million) due to a $66 million non-cash charge. Contracted Backlog grew to $221 million, supported by strong bookings growth of 150% year-over-year. The company reaffirmed its 2021 revenue guidance of $147 million and has a robust pipeline worth $1.43 billion.