Stem And SB Energy Announce Technology And Commercial Alliance To Advance AI-Enabled Energy Management Of Utility Scale Renewables
Portfolio Pulse from Benzinga Newsdesk
Stem (NYSE:STEM) and SB Energy have announced a multi-year technology and commercial alliance. The partnership will leverage Stem's AI-driven software and SB Energy's Digital Platform to deploy clean energy at scale. Stem will be SB Energy's preferred partner for the energy management system (EMS) for 10 GWh of SB Energy's energy storage pipeline across North America over the next five years. SB Energy currently owns and operates 2 GW of clean power, increasing to 3 GW by mid-2024.
November 02, 2023 | 9:24 pm
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POSITIVE IMPACT
Stem's partnership with SB Energy could boost its profile and revenues as it becomes the preferred partner for SB Energy's energy management system for 10 GWh of energy storage projects across North America.
The alliance with SB Energy, a major developer and operator of utility scale solar and energy storage assets, could significantly boost Stem's revenues and market presence. As the preferred partner for SB Energy's energy management system for 10 GWh of energy storage projects, Stem stands to benefit from the growing demand for clean, renewable energy. This could potentially lead to an increase in its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100