AlsoEnergy, a Stem Company, Launches Premier Distribution Channel

Rhea-AI Summary

Stem (NYSE: STEM), through its subsidiary AlsoEnergy, has launched a distribution channel aimed at enhancing the adoption of clean energy assets across the U.S. This channel will provide Engineering, Procurement and Construction (EPC) firms and developers with streamlined access to AlsoEnergy’s edge-to-cloud optimization platform, which includes solutions for solar C&I systems. The initiative is expected to expand with additional distributors, reinforcing AlsoEnergy's position in the clean energy market and supporting its growth in asset management.

Positive

• Launch of a new distribution channel for clean energy assets enhances market access.
• Supports Engineers, Procurement, and Construction firms with advanced optimization tools.
• Expected expansion of partnerships with additional distributors, broadening reach.

Negative

• None.

Increases clean energy asset yield, streamlines purchase of edge-to-cloud monitoring and optimization platform for EPCs and developers

SAN FRANCISCO--(BUSINESS WIRE)-- AlsoEnergy, a Stem (NYSE: STEM) company and a leading edge-to-cloud clean energy optimization platform provider, has launched a premier distribution channel to further accelerate the adoption of clean energy assets. Building on the success of its direct sales, AlsoEnergy is leveraging Stem’s proven channel sales model and relationships with global distributors to begin offering its edge-to-cloud platform more broadly across the U.S. The new distribution channel provides Engineering, Procurement and Construction (EPCs) and developers with streamlined access to AlsoEnergy’s platform that unlocks improved economic and operational opportunities for a range of systems, including solar Commercial and Industrial (C&I) systems. The channel launched with a leading North American distributor and is expected to expand to other distributors.

Designed for C&I projects up to 3 megawatts (MW), the platform includes edge solutions that collect and log data about onsite conditions from various clean energy hardware. The data is then securely transmitted to PowerTrack, AlsoEnergy’s cloud application for optimization of clean energy assets, providing insights into weather-adjusted, expected site performance. Accompanying 5-year PowerTrack subscriptions, three of AlsoEnergy’s edge solutions will now be offered through its distribution channel, including AlsoEnergy’s Power Light Commercial Solution 400, Power Light Commercial Solution 600 BASE, and Power Light Commercial Solution 600 PLUS.

“For more than a decade, AlsoEnergy has consistently delivered reliable edge-to-cloud solutions to empower energy stakeholders to realize higher returns in the evolving energy market,” stated Bob Schaefer, President of AlsoEnergy. “By launching a distribution channel, we are able to serve a larger market in the U.S. and more diversified energy asset portfolios by improving access to our industry-leading solutions. As a new part of Stem, we are excited to continue to grow this channel to accelerate the clean energy transition.”

“Three years ago, the Stem Partner Program pioneered bringing energy storage to the distribution channel and established successful relationships with national and global distribution leaders,” said Alan Russo, Chief Revenue Officer at Stem. “As a key post-acquisition milestone for Stem and AlsoEnergy, this new distribution channel is an important step for the companies’ business goals to create an inclusive energy economy by delivering synergistic, market-leading solutions.”

As a newly combined company, Stem and AlsoEnergy are uniquely positioned to meet the increasingly complex needs of the energy market as it matures, reinforcing their commitment to their partner network. Since 2019, the Stem Partner Network has yielded more than 500 active partners and more than 48GWh of active projects.

Learn more about becoming a Stem or AlsoEnergy distribution partner at https://www.stem.com/partner-program/distributor-partners/.

About Stem

Stem (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. With the acquisition of AlsoEnergy, Stem is a leader in the solar asset management space, bringing project developers, asset owners and commercial customers an integrated solution for solar and energy storage management and optimization. For more information, visit www.stem.com.

About AlsoEnergy

From its founding, AlsoEnergy has led the market in edge-to-cloud portfolio management solutions that make clean energy more resilient, manageable, and scalable. With the clean energy economy offering unprecedented opportunities, AlsoEnergy empowers businesses to rapidly scale and confidently optimize their clean energy portfolios with distributed assets in utility, C&I, and aggregated residential. PowerTrack, AlsoEnergy’s flagship portfolio management application for users throughout the value chain, drives insightful decisions that improve business efficiencies and financial and energy performance. Our dedicated team with deep industry expertise provides tailored solutions throughout the lifetime of clean energy assets. AlsoEnergy was recently acquired by Stem, the leader in smart energy storage. For more information, visit www.alsoenergy.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220607005633/en/

Media Contacts

Jessica Fishman, AlsoEnergy

jessica.fishman@alsoenergy.com

Suraya Akbarzad, Stem

Press@stem.com

Source: AlsoEnergy

FAQ

What new initiative has Stem introduced regarding clean energy assets?

Stem has launched a new distribution channel through AlsoEnergy to enhance the adoption of clean energy assets in the U.S.

How will the new distribution channel benefit engineering firms?

The distribution channel will provide EPC firms with streamlined access to AlsoEnergy's edge-to-cloud optimization platform for enhanced economic and operational opportunities.

What types of systems does AlsoEnergy's platform support?

AlsoEnergy's platform supports solar Commercial and Industrial (C&I) systems, designed for projects up to 3 megawatts.

Who is the president of AlsoEnergy, and what did he say about the new distribution channel?

Bob Schaefer, President of AlsoEnergy, stated that the new distribution channel will allow better access to their industry-leading solutions.

What is the significance of the partnership between Stem and AlsoEnergy?

The partnership enhances Stem's position in the solar asset management sector, allowing for a more integrated solution for energy storage and management.