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

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

    MILLBRAE, Calif., July 24, 2018-- 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.

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  1. Quotes

    1. 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.
    2. 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.
  2. Topics Mentioned

  3. Categories

    1. Electricity Source:

      Solar Photovoltaic, Wave, Tidal, Hydro, Wind
    2. Storage Market:

      Commercial & Industrial, Military, Residential & Community & Microgrid, Smart Grid, Utility Grid, Vehicle-to-Grid/Home
    3. Storage Technology:

      Compressed Air/Gas, Flow Battery, Flywheel, Hydrogen, Lead, Liquid Metal, Lithium, Magnesium, Mechanical Storage, Nickel, Sodium, Supercapacitors, Vanadium, Zinc
    4. Article Types:

      Null, Reports and Conferences