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That's a good thing those lefties hate this Country only evident in bloated nonsense spending spiraling debt. Good job Manchen, deal is mostly shelved, but not over.
Red Wave 2022
Biden's BBB plan is doa. it was loaded with solar money. Not good news in the short term, but it's still has to get through because Nuclear is out of the question.
CRAMBAG GOT GOOGLE WRONG HES AN IDIOT STEM IS CRAP
I flush my poo STEM IS GARBAGE STOCK
Energy storage is bs STEM
STEM could gap up Monday from Cramer's pump, and we don't like gaps.
I don't expect any more bad news. Insiders sold ahead of the deal because they wanted
to lock in for 2021. Selling after the deal would be bad.
However, if STEM we to go down to 11, then you can bet that $CLOV will be down to $2
They got no boost from Palihapitiya
Get woke and go broke , wake up , lots of work out thier porterbelly STEM
Little research and it will hit 16 easy maybe even 11 , loser stock in the long run STEM IS GARBAGE
better sell before u lose more STEM SUCKS
Actually like it, have 1,112 shares to be exact, at $21.04, hope it works out!
Your Boy Harrington just on Cramer, thus the AH POP, he's probably selling shares as I type
youtube blogger comments on $STEM and the deal
STEM: Stem to acquire Also Energy Holdings for $695 mln (17.92)
https://home.alsoenergy.com/
Under the terms of the agreement, Stem will acquire, on a cash-free debt-free basis, all the outstanding shares of Also Energy for an aggregate purchase price of $695 million, consisting of approximately 75 percent of the total consideration in cash and approximately 25 percent in Stem common stock.
The transaction will combine Stem's unique storage optimization capabilities with Also Energy's market-leading solar asset performance monitoring and control software to deliver a compelling one-stop-shop solution for renewable energy projects.
In addition, Stem will offer its smart energy storage solutions to Also Energy's existing front-of-meter and commercial & industrial customers, who generally have limited storage attachment to their solar assets today. Also Energy will gain earlier visibility into solar plus storage projects through Stem's extensive customer and partner network.
John Carrington, Chief Executive Officer of Stem, remarked, "Through this immediately accretive transaction, a combined Stem and Also Energy will bring the unique software, controls, and analytics capability to accelerate the energy transition to a renewable, decarbonized future. As the battery storage and solar industries continue to experience tremendous global growth, developers, asset owners, and utilities will increasingly look to our combined software capabilities to provide a unified platform for energy intelligence that improves project performance. The combined company will deliver an AI-driven software offering that we expect will simplify our customers' asset management, boost their project returns, and accelerate our own growth trajectory."
The transaction will be funded by a combination of cash and common shares of Stem, providing potential further upside to Clairvest and other AlsoEnergy shareholders. Should the transaction close on anticipated terms, Clairvest will realize total sale proceeds of approximately US$350 million (CVG’s portion being US$108 million).
Stem, Inc. To Acquire Also Energy Holdings, Inc.
December 16 2021 - 07:51AM
GlobeNewswire Inc.
Clairvest Group Inc. (TSX: CVG) (“CVG”), today announced that it, a partnership managed by it, Clairvest Equity Partners V (“CEP V”, collectively “Clairvest”), and the other shareholders of Also Energy Holdings Inc. (“AlsoEnergy” or the “Company”) have entered into an agreement to sell their interests in AlsoEnergy to Stem, Inc. (NYSE: STEM) (“Stem”). The proposed transaction is expected to close in Q1 2022 after satisfaction of customary closing conditions, including notification requirements under applicable U.S. antitrust laws.
AlsoEnergy is a leading provider of solar monitoring software, integrated controls, and edge solutions to Distributed Generation and Utility customers across the U.S. Since Clairvest partnered with the two co-founders, Robert Schaefer and Holden Caine, in August 2017, AlsoEnergy executed a successful growth plan through acquiring & integrating three highly strategic companies, building a global footprint, and broadening its service offerings through innovation. Clairvest and the other shareholders will take a portion of their consideration in shares of Stem.
“We are very excited about AlsoEnergy’s new chapter with Stem, given their market position in the rapidly growing storage and digitization sectors,” said Robert Schaefer, Co-founder & CEO of AlsoEnergy. “With respect to our partnership with Clairvest, Ken Rotman, Angus Cole, and the Clairvest team provided unparalleled support to our company over the years and were true partners. Together, we navigated through opportunities and challenges collaboratively and achieved this fantastic outcome.”
“We are extremely pleased with the growth and evolution of AlsoEnergy over our investment period. AlsoEnergy grew to market leadership in the C&I segment and successfully entered the utility-scale segment to become the largest solar monitoring software company. This success was fueled by a passionate management team with a clear entrepreneurial vision,” remarked Angus Cole who leads Clairvest’s energy transition practice.
Ken Rotman, CEO & Managing Director of Clairvest commented that, “Our partnership with AlsoEnergy is an excellent example of Clairvest’s domain-focused approach to investing and emphasizes our mission to help build strategically significant businesses with our entrepreneur partners. It is our view that Stem and AlsoEnergy have a strategic fit that will enable both companies to accelerate their growth.”
The transaction will be funded by a combination of cash and common shares of Stem, providing potential further upside to Clairvest and other AlsoEnergy shareholders. Should the transaction close on anticipated terms, Clairvest will realize total sale proceeds of approximately US$350 million (CVG’s portion being US$108 million).
The sale is expected to have a positive impact on Clairvest’s book value per share of approximately $5 over the carrying value as at September 30, 2021, assuming the transaction closes on anticipated terms and not including any changes, positive or negative, to the carrying value of Clairvest’s other investments.
While all parties involved have a strong desire to complete the sale, there can be no guarantee that the transaction will be completed, or if it is completed, that it will close within the anticipated time period.
William Blair acted as financial advisor to AlsoEnergy in this transaction. Goodmans LLP acted as legal advisor to AlsoEnergy.
Stem to acquire Also Energy Holdings for $695M $STEM
The markets hate Grasso, shareholders gotta suffer for his Big Mouth, ouch
People shorting due to Grasso, no good
Grasso pump gap closed. Back in. Thanks Steve.
now if the insiders would stop selling, maybe we could go up!!!!!!
Steve Grasso calls STEM as his final trade on CNBC Fast Money
CEO
Common Stock, Par Value $0.0001 Per Share 12/01/2021 S(1) 11,163 D $20.7747(2) 465,561 D
Common Stock, Par Value $0.0001 Per Share 12/01/2021 S(1) 11,212 D $21.4972(3) 454,349 D
Common Stock, Par Value $0.0001 Per Share 12/02/2021 S(1) 6,401 D $20.3577(4) 447,948 D
CFO
Common Stock, Par Value $0.0001 Per Share 12/01/2021 S(1) 4,973 D $20.7688(2) 302,818 D
Common Stock, Par Value $0.0001 Per Share 12/01/2021 S(1) 5,027 D $21.4948(3) 297,791 D
Common Stock, Par Value $0.0001 Per Share 12/02/2021 S(1) 3,000 D $20.344(4) 294,791 D
I'm in Starsky!
This is what I call a black Friday sale!
Stem
@stempowered
·
52m
Join @stempowered
at @storage_ESA
's Annual Conference & Expo in Phoenix, AZ December 1-3!
Schedule a meeting with a Stem representative to discuss your #energystorage needs: https://stem.com/esacon-meeting #ESACon21
That's what I'm talking about, which means it'll never happen, but I'll split the difference around $28 $STEM
Wolfe Research Initiates Coverage On Stem with Outperform Rating, Announces Price Target of $35
Shoulda waited til it hits $25
More insider selling. reported on 11/19 for sales on 11/17
CEO sold 44,750 shares.
CFO sold 12,456 shares
I'm in $21.55 for starters will build around it
Insiders sold stock on 11/16 before the offering.
CEO, CFO,CTO
Maybe a merger? Connect the dots
Stem Announces Third Quarter 2021 Financial Results
November 09 2021 - 04:26PM
Company achieves record revenue, gross margin, backlog, pipeline and AUM
Continued expansion of Athena® platform drives strong momentum into 2022
Stem, Inc. ("Stem" or the "Company") (NYSE: STEM), a global leader in artificial intelligence (AI)-driven energy storage services, announced today its financial results for the third quarter ended September 30, 2021.
Third Quarter 2021 Financial and Operating Highlights
Financial Highlights
Record revenues of $39.8 million, up from $9.2 million (+334%) in the same quarter last year
Record Gross Margin (GAAP) of 8% versus (19)% in the same quarter last year
Non-GAAP Gross Margin of 15% versus 8% in the same quarter last year
Net Income of $115.6 million versus Net Loss of $(18.8) million in the same quarter last year. Net Income in the quarter was driven primarily by a non-cash revaluation of Public Warrants. All outstanding Public Warrants were exercised or redeemed during the quarter
Adjusted EBITDA of $(7.2) million versus $(7.9) million in the same quarter last year
Ended the third quarter of 2021 with $576 million in cash, cash equivalents and short-term investments and zero debt
Operating Highlights
Record 12-month Pipeline of $2.4 billion, up from $1.7 billion (+41%) at the end of the second quarter
Record Bookings of $104 million, up from $37 million (+183%) in the same quarter last year
Record Contracted Backlog of $312 million, up from $250 million (+25%) at the end of the second quarter
Record Contracted Assets Under Management (AUM) of 1.4 gigawatt hours (GWh), up from 1.0 GWh in the same quarter last year
John Carrington, Chief Executive Officer of Stem, commented, “We are excited to report a record quarter of commercial and operational execution reflected in revenues, gross margin, backlog, pipeline and AUM this quarter. Customers increasingly demand our smart energy solutions enabled by Athena®, our industry-leading software platform. These financial and operating results include a 25% sequential increase in contracted backlog, driven by a record $104 million in bookings, and a 41% sequential increase in pipeline. Revenue was once again at the high end of our guidance range, and we remain on track to meet our full-year 2021 revenue and Adjusted EBITDA targets. We have secured our anticipated supply requirements through Q3 2022 and are strategically moving to lock in the anticipated hardware deliveries for the full year 2022 to meet contracted customer demand. Combined with a rapidly expanding market, our differentiated offering, and strong balance sheet, we believe our commercial momentum gives us excellent visibility into multi-year growth.”
....
The Company will continue to diversify its supply chain, adopt alternative technologies, and deploy its balance sheet to meet the expected significant growth in customer demand. COVID-19 continues to impact the supply chain and the Company is actively working to mitigate any continued effects of the pandemic on its business and results of operations.
Business Highlights
On October 5, 2021, Stem announced two advanced application additions to Athena: (1) Athena SupervisorTM, which provides real-time visibility into how Athena manages and monetizes energy assets, and (2) Athena BidderTM, which automates asset strategies to maximize wholesale market revenues. These applications enable the Company’s project developer customers to meet resource adequacy requirements, optimize wholesale market revenue, and participate in wholesale energy markets. Stem also highlighted three recent customer projects in the Independent System Operator of New England (ISO-NE) market that can co-optimize seven value streams: day-ahead markets, real-time energy markets, frequency regulation, capacity market, coincident peak reduction, solar shifting incentives, and solar ITC earnings.
On September 15, 2021, Stem announced the development of South America’s first virtual power plant (VPP) with Copec, one of the largest energy companies in Central and South America, as well as the completion of their first smart energy storage system in Chile. The companies will be working together with Chilquinta Energía S.A., a local energy supply service company, to establish the first VPP, a network of decentralized BTM power generating sites. For this project, Stem’s Athena has been customized to integrate utility and grid market data points that optimize energy storage assets in the Chilean market. This partnership also involves future collaboration to bring smart energy storage alongside mutual business activities in electric vehicle charging infrastructures and solar project developments.
On August 30, 2021, Stem announced a pilot using Athena to operate a 350 kW / 800 kWh battery system at Penske's heavy-duty truck charging positions in Ontario, California. Athena predicts when the charging site's electricity demand will spike and uses the supplemental stored energy via on-site batteries at the optimal time to drive off-peak electricity savings and minimize utility peak demand charges. Since starting the pilot, smart energy storage has driven a 40% decrease in Penske's site peak energy consumption. Stem collaborated with Penske and its other suppliers in project execution, including optimizing energy tariffs, utilizing energy storage to secure funds from California Air Quality Resources (CARB) as well as securing incentives from California's Self Generation Incentive Program (SGIP).
On August 20, 2021, Stem announced the redemption of all 12.8 million public warrants outstanding. Holders exercised 12.6 million warrants for a purchase price of $11.50 per whole share, generating proceeds to Stem of approximately $145 million. The Company redeemed all remaining outstanding public warrants. The public warrants have been delisted from the New York Stock Exchange, and there are no public warrants left outstanding.
Outlook
The Company reaffirms its guidance of full-year 2021 revenue of $147 million and full-year 2021 Adjusted EBITDA of $(25) million. Consistent with prior guidance, the Company reaffirms that it expects to recognize 50-60% of total 2021 revenue in Q4. The Company expects to provide 2022 guidance in its fourth quarter/full year 2021 earnings call in mid-to-late February 2022.
Stem (ticker: STEM) reported $39.8 million in sales and gross profits of $5.8 million for the quarter. Wall Street was looking for about $36 million in sales and $3.6 million in gross profit.
The company affirmed its full-year sales guidance of $147 million. That implies fourth-quarter sales of about $72 million. Wall Street is at about $75 million. Still, total sales of $112 million in the second half of 2021 is about $2 million more than analysts have forecast.
A sales and earnings "beat" is good news. The company reported a few other noteworthy items beyond top- and bottom-line figures. The company's pipeline of new business hit $2.4 billion, up 41% from the $1.7 billion reported at the of the second quarter. Pipeline isn't an official accounting metric. It's more like sales leads, but is an indication of the demand for backup battery applications.
Stem's customers are utility and commercial businesses looking to either make renewable-power-generation assets to store energy generated by sunlight or wind, or looking to cut their electricity bill by going to backup power when prices are high. Stem also sells the software required to managed the power systems.
Stem customers now have installed about 1.4 gigawatt hours of battery storage, up from 1 gigawatt hour a year ago. The bigger the installed base, the more software and software upgrades Stem can sell.
Things looks solid. But cash burn was a little larger than investors might have hoped for. Stem burned through roughly $28 million in the quarter. The company burned through about $50 million in the first half of 2021.
"That's driven by -- shocker -- supply-chain issues," CEO John Carrington tells Barron's. But spending more was a choice. Carrington put a little more cash to work, locking up things like battery supply to help avoid price inflation. Stem has contracted its battery needs through the third quarter of next year and is working no on the fourth quarter of 2022.
Battery prices are going up, but down the road, Carrington doesn't see the need to invest in battery capacity. There will be enough batteries to be had, according to the CEO. He is focused on higher-margin software sales and less interested in making an extra margin on batteries.
Most of the company's roughly $600 million in cash on the balance sheet is earmarked for things such as M&A instead of building manufacturing capacity.
Barron's recently wrote positively about Stem, believing its software, combined with rising demand for stationary backup power applications, would drive its stock price higher. Since the article appeared in August, as of Tuesday's closing price, Stem stock is down about 2%. The S&P 500 and Dow Jones Industrial Average are up about 5% and 3% respectively over the same span.
Earnings Call info
Tuesday, November 9, 2021 to discuss its financial results for the quarter ended September 30, 2021.
The conference call is scheduled to begin at 5:00 p.m. Eastern Time. A press release regarding the results will be issued prior to the call at approximately 4:05 p.m. Eastern Time.
The conference call may be accessed via a live webcast on a listen-only basis on the Events & Presentations page of the Investor Relations section of the Company’s website at https://investors.stem.com/events-and-presentations. The call can also be accessed live over the telephone by dialing (844) 826-3035 or for international callers by dialing (412) 317-5195 and referencing Stem.
A replay of the webcast will be available shortly after the call and can be accessed by dialing (844) 512-2921 or for international callers by dialing (412) 317-6671. The passcode for the replay is 10161255. The replay will be available until November 19, 2021. An archive of the webcast will be available on the Company’s website at https://investors.stem.com/overview for twelve months after the call.
Thanks for the info. wondering the reason for the decline.
notable 13F for the quarter ending 9/30
GENERAL ELECTRIC CO 09/30/2021 2,359,893 2,359,893 New
Filing was a couple of days ago.
Lockup period ended, could explain the decline today
Stem, Inc. Highlights Significant Milestones and New Applications for Athena® Software in Wholesale Energy Markets
October 05 2021 - 08:30AM
Athena now supporting seven value streams for customers in ISO-New England
Advanced reporting and bidding software offerings launched for CAISO, ERCOT, and PJM wholesale energy markets
Stem, Inc. (“Stem” or “the Company”) (NYSE: STEM), a global leader in artificial intelligence (AI)-driven energy storage services, announced today two advanced application additions to its Athena® smart energy software, enabling its project developer customers to generate more revenue in wholesale energy markets for both front of meter (FTM) and behind the meter (BTM) storage projects. Included in the enhanced offering is Athena SupervisorTM, which provides real-time visibility into how Athena manages and monetizes energy assets, and Athena BidderTM, Stem’s proprietary market operations engine that automates asset strategies to maximize wholesale market revenues.
Stem Highlights Three Recent Milestones with Athena® in ISO-NE
Important milestones achieved by Stem during three recent customer projects in Independent System Operator New England (ISO-NE) include:
For the first time, Athena Bidder automated both day-ahead and real-time energy market participation in ISO-NE, along with capacity supply and frequency regulation for a project in Haverhill, Mass. Athena uses the most recent forecasts to automatically optimize the battery operations and evaluate what value stream to participate in, while respecting the point of interconnection (POI) limit and incentive tax credit (ITC) constraint at every trading interval.
In addition, Athena Bidder recently began to forecast market prices and solar generation, while continuously delivering market-ready price and quantity bids in the ISO-NE market for a project in Halifax, Mass.
Separately, Stem’s first direct current-coupled system, deployed earlier this year in Leicester, Mass., is expected to begin generating revenue via the state’s ISO-NE, Solar Massachusetts Renewable Target (SMART), and Clean Peak Energy Portfolio Standard programs.
Across these projects, Stem is enabling its project developer customers to co-optimize seven value streams: day-ahead markets, real-time energy markets, frequency regulation, capacity market, coincident peak reduction, solar shifting incentives, and solar ITC earnings.
With Stem’s extended project developer support services and Athena’s ability to deliver multiple value streams, Stem has grown rapidly in the ISO-NE market since it expanded market participation activities for FTM storage in 2020. As of mid-2021, Stem’s Athena-controlled systems comprised 52% of Massachusetts and 19% of ISO-NE’s operational continuous storage facilities active in the wholesale energy, ancillary services, and forward capacity markets. Athena continues to deliver an average of up to 30% internal rate of return (IRR) for its users.
Stem Expands Value in FTM Wholesale Energy Markets with Offerings for CAISO, ERCOT and PJM
Stem’s Athena is used by project developers and asset owners to optimize power generation and market participation revenues of both standalone energy storage and hybrid solar plus storage power plants. Athena supports merchant projects capturing nodal pricing swings. Now, the recent updates to Athena Bidder provide enhanced capabilities for customers to meet resource adequacy requirements, optimize wholesale market revenue, and participate in wholesale energy markets such as California Independent System Operator (CAISO), Electric Reliability Council of Texas (ERCOT), and Pennsylvania, New Jersey, and Maryland (PJM). This enhances customers’ IRR by maximizing revenues through optimized bidding strategies, automated program management, and systematized compliance, while enhancing the storage lifecycle value. Additionally, Athena is uniquely capable of providing short-term forecasts for day-ahead and real-time bidding, as well as leveraging long-term market price projections to model FTM systems for financing and bankability.
“As a global leader in AI-driven energy storage, Stem continues to develop and enhance Athena’s smart energy storage capabilities to secure further market value for new and existing customers and diversify our geographic footprint into new markets,” said John Carrington, Chief Executive Officer at Stem. “These enhancements to Athena’s applications for wholesale energy market participation extend the value and benefits offered to our partners. With our unparalleled service, we help them navigate complicated programs and incentives and generate the best return on their investments.”
NOTIFICATION OF REMOVAL FROM LISTING AND/OR REGISTRATION
UNDER SECTION 12(b) OF THE SECURITIES EXCHANGE ACT OF 1934.
Commission File Number 001-39455
Issuer: STEM, INC.
Exchange: NEW YORK STOCK EXCHANGE LLC
(Exact name of Issuer as specified in its charter, and name of Exchange where security is listed and/or registered)
Address: 1603 Orrington Ave, 13th Floor
Evanston ILLINOIS 60201
Telephone number: (415) 937-7836
(Address, including zip code, and telephone number, including area code, of Issuer's principal executive offices)
Warrants, each whole warrant exercisable for one share of common stock at an exercise price of $11.50
last up gap closed
up Aug-23-2021 21.95 to 22.4
Stem, Inc. Announces South America’s First Virtual Power Plant and Completes First Smart Energy Storage Project in Chile
September 15 2021 - 08:30AM
Manufacturing facility energy storage system now operating on Stem’s Athena® software
Project part of joint venture with Copec
Stem, Inc. (“Stem” or “the Company”) (NYSE: STEM), a global leader in artificial intelligence (AI)-driven energy storage services, and Copec, one of the largest energy companies in Central and South America, today announced the development of South America’s first virtual power plant (VPP) as well as the completion of their first smart energy storage system in Chile. The companies will be working together with Chilquinta Energía S.A. (“Chilquinta”), a local energy supply service company.
In July 2020, Stem and Copec announced a partnership to bring Stem’s intelligent storage solutions to South America, marking the Company’s entrance into this region. The partnership recently completed its first project, a smart energy storage solution for a lubricant manufacturing plant owned by Copec in the Valparaíso Region of Chile.
In addition, Stem and Copec have partnered with Chilquinta to establish the first VPP, a network of decentralized behind-the-meter (BTM) power generating sites, in all of South America. For this project, Stem’s Athena® smart energy storage software has been customized to integrate utility and grid market data points that optimize energy storage assets in the Chilean market. This partnership also involves future collaboration to bring smart energy storage alongside mutual business activities in electric vehicle charging infrastructures and solar project developments.
Stem’s Athena allows this network of commercial and industrial (C&I) customer sites to deliver both resilience and backup power solutions by automatically aggregating and responding to spikes in electricity use and drawing on stored power to reduce electricity costs for customers. Athena also ensures continuous power and consistent operations to serve the utility’s real-time needs, demonstrating the ability to dispatch all the sites when power is needed on the grid. Stem combines this electricity usage and deployment information with data from renewable generation forecasting and monitoring so the utility can effortlessly call upon the stored electricity for added stability during peak demand times. Athena is continuously collecting electricity usage data, creating a virtuous cycle of learning and deep insights to better inform its AI-driven algorithm.
“The energy storage market in South America represents a significant growth opportunity for Stem and our partner Copec,” said John Carrington, Chief Executive Officer at Stem. “We are proud to have completed our first project under this partnership – positioning Copec as a smart grid participant while driving energy cost reduction and enhancing the sustainability profile of their manufacturing facilities. At the same time, our VPP is set to demonstrate tremendous value to utilities in South America that can leverage distributed energy storage systems to stabilize the grid, similar to what Stem’s Athena® smart energy storage software is doing in other regions today. I am excited about our future in South America and the benefits we will bring to businesses, utilities, and energy customers.”
“Copec is focused on driving innovation and sustainability across the energy and mobility segments,” added Mauricio de la Torre, New Energies Leader at Copec. “Through our partnership with Stem, we have begun to demonstrate the investment returns of smart energy storage and the tremendous potential for Copec to help Chile meet its ambitious climate goals.”
Chile is among the most favorable markets for solar energy with one of the highest solar irradiances and potential for solar generation in the world. Chile has announced in recent years that it will not build new coal-fired power plants and will align with the National Energy Policy 2050, an ambitious set of climate change and renewable energy efficiency goals, for which Chile targets 70% renewable energy electricity by 2030 and carbon neutrality by 2050. After hosting the UN Climate Change Conference in 2019, the country leads South America in sustainability strategies. Chile is projected to have a combined opportunity for energy storage nearing 1 GWh over the next decade, based on market estimates from Copec and its subsidiary, Terpel.
About Stem, Inc.
Stem, Inc. (NYSE: STEM) provides solutions that address the challenges of today’s dynamic energy market. By combining advanced energy storage solutions with Athena®, a world-class 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 a 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. For more information, visit www.stem.com.
About Copec
Copec is one of the leading energy companies in Central and South America. It was founded in Chile in 1934 and today is also present in Colombia, Panama, Ecuador, Peru and the Dominican Republic (through Terpel) and in the southeast United States (through Mapco). With a robust network of over 3,000 fuel stations and over 1,200 convenience stores in the continent, the company also has leading presence in strategic sectors of the industry including aviation, electric generation, mining, fishing, and transport, among others. Always focused on customer service and innovation, Copec is also working to lead the change for a new era in mobility, energy and convenience, faithful to its promise to facilitate the life in movement.
On September 9, 2021, Stem, Inc. (the “Company”) participated in the Barclays CEO Energy-Power Conference via virtual webcast. Slides in connection with the conference, which contain, among other things, a reaffirmation of 2021 guidance and other financial forecasts, as well as an update on actions to mitigate supply chain risk, are available on the Stem Investor Relations website at https://investors.stem.com/events-and-presentations/.
Stem to Participate in Barclays CEO Energy-Power Conference
September 02 2021 - 04:30PM
Stem, Inc. (“the Company”) (NYSE: STEM), a global leader in artificial intelligence (AI)-driven energy storage services, announced today that it will participate in the Barclays CEO Energy-Power Conference on September 9, 2021. The conference will be held virtually. In connection with the conference, the Company will post an investor presentation on September 9 on the Events & Presentations section of its Investor Relations website at https://investors.stem.com/events-and-presentations/.
Penske Truck Leasing Pilots Stem Inc.'s Athena® Software to Support EV Charging
August 30 2021 - 12:05PM
READING, Pa., Aug. 30, 2021 /PRNewswire/ -- Penske Truck Leasing continues to expand its fleet electrification efforts including the evaluation of important related technologies to support the emerging charging needs of battery electric trucks. Since April 2021, Penske has worked with Stem, Inc., a global leader in artificial intelligence (AI)-driven energy storage services, to pilot its Athena® smart energy storage software and operate an advanced battery storage system. The pilot project included a 350 kilowatt (kW)/800 kilowatt hour (kWh) battery system powered by Stem's Athena at Penske's heavy-duty truck charging positions in Ontario, California.
"We collaborated with Stem and other suppliers in designing and implementing the electric vehicle (EV) charging infrastructure," said Sean Yentsch, vice president facilities at Penske. "We then used Stem's Athena® smart energy software to optimize the electricity requirements associated with charging commercial electric trucks. We've been pleased with the initial results, and we continue to evaluate expanding the use of this AI-driven energy storage system as new charging positions equipped with supplemental battery storage are established."
Stem's Athena predicts when the charging site's electricity demand will spike and uses the supplemental stored energy via on-site batteries at the optimal time to drive off-peak electricity savings and minimize utility peak demand charges. Since starting the pilot, smart energy storage has driven a 40% decrease in Penske's site peak energy consumption.
Stem collaborated with Penske and its other suppliers in project execution, including optimizing energy tariffs, utilizing energy storage to secure funds from California Air Quality Resources (CARB) as well as securing incentives from California's Self Generation Incentive Program (SGIP).
John Carrington, chief executive officer of Stem, commented, "The growth in demand for electric vehicles and fleet charging solutions will require smart energy storage to help optimize energy usage, support the grid, and help companies go electric. Our Athena® software continues to stand out as a premier solution offering, bringing together the many critical components in driving customer savings and greenhouse gas (GHG) emissions reduction. We are proud of our delivered AI-driven services to Penske, a leader in fleet electrification initiatives. The superior results of this EV project prove the unique role energy storage can play as a system integrator and the value of having a scalable, AI-powered services platform.
"For businesses, smart charging with energy storage can help to manage costs and electrical loads, while helping future-proof facilities against expensive upgrades," added Carrington. "For utilities, smart energy storage can serve as a cost-effective solution for meeting the significant charging loads associated with fleet electrification."
Penske Truck Leasing is a Penske Transportation Solutions company headquartered in Reading, Pennsylvania. A leading global transportation services provider, Penske Truck Leasing operates more than 350,000 vehicles and serves customers from more than 1,300 locations in North America, South America, Europe, Australia and Asia. Product lines include full-service truck leasing, contract maintenance, commercial and consumer truck rentals, used truck sales, transportation and warehousing management and supply chain management solutions. Visit http://www.pensketruckleasing.comto learn more.
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STEM: Stem to acquire Also Energy Holdings for $695 mln
https://home.alsoenergy.com/
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