Stem (NYSE: STEM), a global leader in AI-driven clean energy solutions and services, today announced that Frost & Sullivan ranked Stem as the Leader in Innovation in the Frost Radar™: Digital Platforms for Renewable Energy and Battery Storage Optimization and Trading report. The report attributed Stem’s ranking to the combination of Athena, Stem’s clean energy optimization platform, PowerTrack, its industry-leading solar monitor and controls application, and the company’s expertise in front-of-the-meter (FTM) technology and optimization.
“Stem is a notable pioneer in BTM analytics and asset optimization and leveraged its expertise, credibility, and AI platform, Athena, to enter the FTM market in 2019. Its cloud-native SaaS platform leverages AI and continuous machine learning with fully automated model selection to constantly improve the results of its optimization, forecasting and automated energy trading. Stem’s team of energy specialists supports the entire value chain and provides insights on how projects can capture more returns given market dynamics across jurisdictions. With a continued focus on product leadership and customer value, Stem is well positioned to continue consolidating its FTM market leadership position,” reported Frost & Sullivan.
Frost & Sullivan forecasts global grid-scale battery storage systems to expand rapidly in the coming years, reaching 260 gigawatts (GW) by 2030 at a compound annual growth rate of 34% from 2021. As the energy transition advances and power generation portfolios and market rules become more sophisticated, customers are expected to increasingly require machine-driven forecasting and optimization and trading algorithms to maximize revenues, reduce carbon impacts, and provide energy resilience.
“Stem is honored to be recognized as an Innovation Leader by Frost & Sullivan, a leading global research and growth consulting firm — a testament to the decade of work Stem has invested in delivering optimized operational and economic value to our customers,” said Larsh Johnson, Chief Technology Officer at Stem. “With dozens of gigawatts of renewable energy assets under management in more than 50 countries worldwide, Stem has the expertise to continuously monitor evolving market needs and the data to translate that into value-added solutions for our customers’ clean energy assets and portfolios.”
For the report, Frost & Sullivan independently evaluated Stem as a “market powerhouse” along with 10 other companies offering battery storage and renewable energy trading and optimization services. Per Frost & Sullivan, the companies evaluated exhibit a genuine commitment to decarbonization by unlocking the untapped value of battery storage and helping accelerate the energy transition. The report’s Innovation Index specifically measured a company’s ability to develop products, services, or solutions (with a clear understanding of disruptive Mega Trends) that are globally applicable, are able to evolve and expand to serve multiple markets, and are aligned to customers’ changing needs. The report can be accessed at https%3A%2F%2Fwww.stem.com%2Ffrost-sullivan-radar-report%2F.
About Stem
Stem (NYSE: STEM) provides clean energy solutions and services designed to maximize the economic, environmental, and resiliency value of energy assets and portfolios. Stem’s leading AI-driven enterprise software platform, Athena®, enables organizations to deploy and unlock value from clean energy assets at scale. Powerful applications, including AlsoEnergy’s PowerTrack, simplify and optimize asset management and connect an ecosystem of owners, developers, assets, and markets. Stem also offers integrated partner solutions to help improve returns across energy projects, including storage, solar, and EV fleet charging. For more information, visit www.stem.com.
Source: Stem, Inc.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221103006148/en/
