Stem to obtain solar property management software firm AlsoEnergy

• Stem revealed it will certainly get solar property monitoring software AlsoEnergy for $695 million.

The deal will incorporate Stem's power storage space optimization abilities with AlsoEnergy's solar possession efficiency monitoring and also control software to supply an extra detailed service for renewable energy projects. In addition, Stem will provide its wise power storage remedies to AlsoEnergy's existing front-of-meter and also commercial and also commercial consumers, that typically have restricted storage accessory to their solar assets today. AlsoEnergy will gain earlier exposure into solar + storage space projects via Stem's considerable customer as well as companion network.

" With this promptly accretive deal, a combined Stem as well as AlsoEnergy will bring the distinct software, controls, as well as analytics capacity to speed up the power change to a sustainable, decarbonized future. As the battery storage as well as solar industries continue to experience incredible international growth, designers, property owners, as well as energies will increasingly want to our consolidated software capabilities to offer a combined system for power intelligence that improves project performance," claimed John Carrington, Chief Executive Officer of Stem. "The mixed business will supply an AI-driven software offering that we anticipate will streamline our customers' possession monitoring, boost their project returns, and also accelerate our very own development trajectory."

The purchase goes through governing approvals as well as other normal closing problems. The purchase is expected to close in the initial quarter of 2022.