SB Energy, Stem enter into AI-enabled clean energy alliance

US AI-driven clean energy-focused software firm Stem Inc (NYSE:STEM) and SoftBank (TYO:9984)-backed solar and storage assets developer SB Energy have decided to combine their expertise under a multi-year technology and commercial partnership to deliver AI-enabled energy products.

The two companies have reached an agreement in principle to establish a technology joint venture that combines SB Energy’s digital platform and competence in infrastructure assets development with Stem’s technology development capabilities.

Under the commercial part of the pact, over the next five years Stem will serve as SB Energy’s preferred energy management system (EMS) partner for its 10 GWh of energy storage pipeline across North America, according to a statement released on Thursday.

“We’re especially excited that this alliance will further accelerate the deployment of lithium ion and long duration storage in our portfolio and our ability to provide cutting-edge and cost-effective energy power structures to our customers,” SB Energy co-CEO Rich Hossfeld said.

Backed by SoftBank and Ares Climate Infrastructure, SB Energy currently owns and operates 2 GW of clean power with plans to expand its portfolio to 3 GW by mid-2024.

Stem offers integrated solutions aimed at improving returns and maximising the value of energy assets, including solar, storage and EV charging. Over 31 million run-time hours and 3 GWh of storage projects have been contracted or deployed on its flagship AI-driven clean energy analytics platform Athena.

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