MILLBRAE, Calif.–(BUSINESS WIRE)–Stem, Inc. (“Stem” or the “Firm”) (NYSE: STEM), a world chief in synthetic intelligence (AI)-driven vitality storage providers, in the present day introduced that the Firm has entered into an settlement to offer good vitality storage providers to Altus Energy America, Inc. (“Altus Energy“), a market-leading clear electrification firm that develops, owns, and operates renewable vitality belongings in Massachusetts and all through the US.
An authorized companion in Stem’s Accomplice Program, Altus Energy will leverage Stem’s good vitality providers to handle its photo voltaic storage facility and to ship clear vitality flexibility in New Marlborough, Massachusetts. Altus Energy expects this behind the meter (BTM), DC-coupled 2.9 megawatt (MW) photo voltaic system mission with 2 megawatt-hours (MWh) of vitality storage to grow to be operational through the second quarter of 2021.
Stem’s Athena™ AI good vitality storage platform will allow Altus Energy’s photo voltaic era and vitality storage system to offer automated demand response options that includes versatile supply of unpolluted vitality throughout peak demand occasions, maximizing the financial and environmental advantages of its photo voltaic belongings. Including vitality storage to the DC-coupled photo voltaic system will reduce the vitality loss inside the photo voltaic inverters.
Stem and Altus Energy at present collaborate to assist compliance with necessities for federal funding tax credit and the Photo voltaic Massachusetts Renewable Goal (SMART) Program, a state initiative that promotes cost-effective photo voltaic growth with customer-facing and grid service advantages.
Since saying its first mission in Massachusetts in 2017, Stem has deployed an combination of greater than 180 MWh of storage capability, or almost 20% of all non-residential vitality storage capability for MA SMART by way of behind the meter and entrance of meter (FTM). Based on Wooden Mackenzie’s U.S. vitality storage monitor 2020 report, Massachusetts was dwelling to 30% of the 300 MWh of U.S. non-residential vitality storage deployments in 2020, greater than any state besides California. Massachusetts is predicted to deploy 21% extra non-residential MWh in 2021 than it did in 2020.
John Carrington, Chief Government Officer of Stem, commented, “All through Stem’s historical past, we now have efficiently managed hundreds of grid dispatches and tens of hundreds of market responses to assist vitality reliability for our companions and their prospects. Our experience in demand response and superior know-how with our Athena™ AI good vitality storage platform makes it straightforward for our companions like Altus Energy to leverage our capabilities to ship dependable and environment friendly vitality to their prospects whereas enhancing mission returns. We’re excited to develop our footprint within the quickly rising Massachusetts market and can proceed to allow good storage in different geographies as markets evolve within the US and overseas.”
Tony Savino, Co-Founder and Chief Building Officer of Altus Energy, added, “Partnering with a number one integrator like Stem permits us to offer our prospects with vitality storage programs in an adaptable and environment friendly method. We sit up for a continued partnership with Stem, serving to to allow additional supply of unpolluted vitality to our prospects.”
About Stem, Inc.
Stem, Inc. gives options that handle the challenges of in the present day’s dynamic vitality market. By combining superior vitality storage options with Athena™, a world-class AI-powered analytics platform, Stem permits prospects and companions to optimize vitality use by mechanically switching between battery energy, onsite era and grid energy. Stem’s options assist enterprise prospects profit from a clear, adaptive vitality infrastructure and obtain all kinds of objectives, together with expense discount, resilience, sustainability, environmental and company accountability and innovation. Stem additionally provides full assist for photo voltaic companions desirous about including storage to standalone, neighborhood or industrial photo voltaic tasks – each behind and in entrance of the meter. For extra info, go to www.stem.com.
About Altus Energy America
Altus Energy, primarily based in Greenwich, Connecticut, is making a clear electrification ecosystem, serving its industrial, public sector and neighborhood photo voltaic prospects with domestically sited photo voltaic era, vitality storage and EV-charging stations throughout the U.S. Since its founding in 2009, Altus has developed or acquired greater than 200 distributed era photo voltaic amenities totaling greater than 270 megawatts from Vermont to Hawaii. Go to www.altuspower.com to study extra.
Cautionary Assertion concerning Ahead-Wanting Statements
This press launch comprises “forward-looking statements” inside the which means of the federal securities legal guidelines — that’s, statements concerning the future, not about previous occasions. Such statements usually include phrases akin to “anticipate,” “could,” “imagine,” “plan,” “estimate,” “intend,” “anticipate,” “ought to,” “might,” “will,” “see,” “probably,” and different comparable phrases. Such forward-looking statements are topic to dangers, uncertainties, and different elements that might trigger precise outcomes to vary materially from these expressed or implied by such forward-looking statements. These forward-looking statements are primarily based upon assumptions and estimates that, whereas thought-about affordable by us and our administration, rely on inherently unsure elements which will trigger precise outcomes to vary materially from present expectations, together with our capacity to acknowledge the anticipated advantages of our current enterprise mixture with Star Peak Vitality Transition Corp. (“Star Peak”); our capacity to develop and handle progress profitably; dangers regarding the event and efficiency of our vitality storage programs and software-enabled providers; the likelihood that our enterprise, monetary situation and outcomes of operations could also be adversely affected by different financial, enterprise and aggressive elements; and different dangers and uncertainties set forth within the part entitled “Threat Elements” within the definitive proxy assertion regarding the enterprise mixture filed by Star Peak on March 30, 2021 and different paperwork we file with the SEC sooner or later. Nothing on this press launch ought to be thought to be a illustration by any person who the forward-looking statements set forth herein might be achieved or that any of the contemplated outcomes of such ahead trying statements might be achieved. We warning you that the foregoing checklist of things is just not exhaustive, and you shouldn’t place undue reliance on forward-looking statements, which converse solely as of the date they’re made. We don’t undertake any obligation to replace these forward-looking statements, whether or not because of new info, future occasions, or in any other case, besides as required by legislation.
Supply: Stem, Inc.