Ontario Teachers’ invests $200 mln in Stem's Ontario expansion
Stem Inc, a U.S. artificial intelligence-enabled energy storage provider, has raised $200 million from Ontario Teachers’ Pension Plan. The deal's proceeds will support Stem's acquisition of Ontario energy storage projects and delivery of the company's systems, which help manufacturers and other industrial customers control energy consumption costs. Ontario Teachers’ Senior Managing Director Dale Burgess said the investment attests to the value of a "firm and competitive financing solution for industrial customers in Ontario." The pension fund also backed Stem’s Series D financing, which closed this week at nearly US$110 million.
24 July 2018•4 mins read
