Welcome to our dedicated page for Stem news (Ticker: STEM), a resource for investors and traders seeking the latest updates and insights on Stem stock.
Stem Inc (NYSE: STEM) delivers intelligent energy storage solutions through its industry-leading Athena software platform. This news hub provides investors and industry stakeholders with essential updates on the company's technological advancements, financial milestones, and market positioning within the renewable energy sector.
Access authoritative reporting on STEM's innovations in predictive energy analytics, grid optimization partnerships, and commercial deployments. Our curated news collection features earnings announcements, strategic collaborations, and product updates that demonstrate the company's leadership in merging big data with clean energy infrastructure.
Key focus areas include energy storage system deployments, Athena software enhancements, and regulatory developments impacting smart grid technologies. Bookmark this page for real-time updates on how STEM continues to optimize energy consumption patterns for commercial enterprises while advancing grid modernization initiatives.
Penske Truck Leasing is advancing its fleet electrification efforts by piloting Stem, Inc.'s Athena® smart energy storage software. This initiative includes a 350 kW/800 kWh battery system at charging locations in Ontario, California. Since starting the pilot in April 2021, the system has led to a 40% reduction in peak energy consumption at Penske's sites. The collaboration aims to optimize energy use and reduce costs for commercial electric truck charging, supported by incentives from California's air quality programs.
Stem, Inc. announced the redemption of all outstanding public warrants with a redemption price of $0.01 per warrant. The warrants will cease trading on September 17, 2021, and will be delisted from the NYSE on the Redemption Date of September 20, 2021. Holders of the warrants have until 5:00 p.m. NY time on the Redemption Date to exercise them. The company has met the necessary conditions for redemption, with the common stock closing above $18.00 for 20 trading days prior to August 17, 2021.
Stem, Inc. (NYSE:STEM) reported its Q2 2021 results, revealing a substantial 339% increase in revenues to $19.3 million from $4.4 million year-over-year. The company improved its Non-GAAP Gross Margin to 11%, up from 5% the previous year, though it posted a net loss of $(100.2 million), primarily due to non-cash charges. Stem ended the quarter with $474 million in cash and no debt. The 12-month pipeline grew to $1.7 billion, while contracted backlog rose 13% to $250 million, indicating strong future potential.
Stem, Inc. (NYSE: STEM) announced a conference call on August 11, 2021, at 5:00 p.m. ET to discuss its financial results for Q2 2021, ending June 30, 2021. A press release with financial details will precede the call at 4:05 p.m. ET. Stakeholders can join the call via a live webcast on Stem's Investor Relations website or by phone at 877-705-6003 (international: 201-493-6725). The call's replay will be accessible for one month post-event. Stem leverages AI for energy storage solutions, aiding businesses in optimizing energy use and achieving sustainability goals.
Stem, a leader in AI-driven energy storage, reported the successful dispatch of over 500 MWh of energy during June's heat waves across the U.S. and Canada. Utilizing its Athena® software, Stem responded to nearly 4,000 site events in ten utility programs, supporting grid stability during peak demand. The company has a total of 950 systems representing approximately 1.1 GWh contracted or operational. Stem’s services are vital for utilities managing energy demands without disrupting customer operations.
Stem, Inc. (NYSE: STEM), a leader in AI-driven clean energy storage, has been added to the Russell 2000 Index, emphasizing its growth potential in the ESG investment landscape. This index reconstitution highlights Stem's alignment with investor interests in energy storage amidst a rapidly expanding market. The company offers advanced battery storage solutions through its Athena software, aiming to lower energy costs and enhance sustainability for enterprise clients. With $10.6 trillion in assets benchmarked to Russell Indexes, Stem's inclusion could enhance its visibility and growth prospects.
Stem, Inc. (NYSE: STEM) has entered into a partnership with Altus Power America to provide smart energy storage services for a 2.9 MW solar project in New Marlborough, Massachusetts. This project, utilizing Stem's Athena™ AI platform, aims to enhance clean energy delivery and optimize economic benefits during peak demand. With over 180 MWh of storage capacity deployed since 2017, Stem continues to establish a significant presence in the Massachusetts energy market, which is projected to grow further in 2021.
Stem, Inc. (NYSE: STEM) announced its participation in the Cowen Sustainability and Energy Transition Summit, set for June 9, 2021, at 11:50 AM EST. The event will feature a live webcast, accessible through registration. Stem integrates AI-driven solutions for energy storage, aiming to optimize energy usage and support sustainability goals. The company's platform, Athena™, is designed to enhance energy infrastructure, benefiting enterprise customers with cost reductions and increased resilience. A replay of the webcast will be available until September 8, 2021.
Stem, a leader in AI-driven clean energy storage, has partnered with Ameresco to provide smart energy storage for a battery project with Holy Cross Energy in Colorado. The project aims to support HCE's goal of sourcing 100% renewable electricity by 2030 and is expected to reduce greenhouse gas emissions by approximately 6,853 metric tons annually. Stem's Athena platform will optimize energy resource integration, enhancing efficiency for both HCE and Colorado Mountain College as it advances towards carbon neutrality by 2050.
Stem, a leader in AI-driven clean energy storage services, announced its participation in several upcoming virtual investor conferences. Key events include the BofA Securities Clean Energy Conference on May 27, Cowen Sustainability and Energy Transition Summit on June 9, Goldman Sachs Solar and Storage Symposium on June 17, and JP Morgan Energy, Power & Renewables Conference on June 22, 2021. Stem leverages its advanced Athena platform to help clients optimize energy usage, enhance sustainability, and support solar initiatives.
