Ontario Teachers'-backed Stem acquires Constant Power
Stem Inc has acquired most of the assets of Constant Power Inc, a Toronto-based developer, integrator and operator of distributed energy resources with an energy storage-as-a-service solution. No financial terms were disclosed. Stem, a Millbrae, California-based artificial intelligence-enabled energy storage provider, said it has also appointed Brad Marks as country manager for Canada. The announcements come several months after the company secured $200 million from Ontario Teachers’ Pension Plan. The investment by Ontario Teachers' was intended to support Stem's acquisition of Ontario energy storage projects and delivery of its systems.
12 December 2018•3 mins read
