Thursday, August 13, 2015

Stem Gains $45M For Energy Storage Products

San Francisco-based energy storage products developer Stem said today that it has raised $45M in its Series C funding round, after the completion of a second tranche in the round. The second tranche was led by RWE Group, the European electricity and gas company, via its R&W Supply & Trading subsidiary. Stem develops a battery-based system which smoothes out energy usageat a site, regulating when power is taken from the grid to reduce costs. Other investors in the round included Angeleno Group, Iberdrola, GE Ventures, Constellation New Energy and Total Energy Ventures. R&W Supply & Trading adds a board member with the funding. More information »