Greentech Advises

Greentech Advises Stem on its Growth Equity Capital Raise
January 25, 2018

Greentech Capital Advisors is pleased to announce the following transaction:
Exclusive financial advisor on its growth equity financing from

$80,000,000January 2018

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CLIENT OVERVIEW

Stem, Inc. (“Stem” or the “Company”), the global leader in artificial intelligence (AI)-powered energy storage, completed the first close of its Series D financing with an $80 million investment. Activate Capital, a growth equity firm exclusively focused on companies providing innovative products and solutions across the sustainable energy and industrial technology markets, led the round and was joined by Ontario Teachers’ Pension Plan, Canada’s largest single-profession pension plan, and Temasek, an investment company headquartered in Singapore.

TRANSACTION OVERVIEW

Stem had record 2017 growth in system count, new market expansion, and partnerships, having over 1,100 sites operational or in construction with an average system size of 500 kWh. The Company now has hundreds of systems under management across five states and three countries (US, Japan, and Canada) which form networks for capacity and grid services with eight utilities across North America and Tokyo Electric Power in Japan. Of the Company’s over 1,100 sites, 330 locations are standalone PowerMonitor controls and software for utility use. These sites provide utility customers with additional grid edge visibility and control in areas with high rooftop solar penetration.

Stem utilizes predictive software, underpinned by approximately 130 million device operating hours, to simultaneously provide businesses energy savings and utilities infrastructure reliability. Athena by Stem is the first platform to use artificial intelligence for customer-sited energy storage and virtual power plants.

Greentech Capital Advisors, the leading sustainable infrastructure investment bank, acted as financial advisor to Stem on the financing.

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For additional information about this transaction, please contact:

Michael Horwitz
Partner
+1 (415) 697-1561
mhorwitz@greentechcapital.com

Steve Megyery
Partner
+1 (212) 946-3949
steve@greentechcapital.com

Download the Deal Announcement

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