Stem is an example of a project that Lan spotted as having immense potential right from the start. Over a decade ago, when it only had eight employees, Lan invested in the company - and it has certainly paid oﬀ.
Today, Stem is a global leader in AI-driven Energy Storage, and now trades as “STEM” on the New York Stock Exchange. Its footprint now spans four countries, nine states and over 75 permitting jurisdictions.
With over ten years of pioneering experience, it oﬀer businesses, utilities, and project developers exceptional service backed by the industry’s best software.
As the first public pure play smart energy storage company, Stem delivers and operates battery storage solutions that maximise renewable energy generation and help build a cleaner, more
Its customers include Fortune 500 companies, project developers, utilities and independent pow- er producers. Stem’s market-leading Athena software helps lower energy costs and solve renew- able intermittency across the world’s largest network of distributed energy storage systems.
Athena, one of Stem’s solutions, is the most utilised, validated, and successful DER optimization software in the world. Trained on tens of millions of system runtime hours across 40-plus utility territories, Athena enables 10-30% energy bill savings for businesses and 10-30% increases in unlevered IRRs for asset owners and IPPs.
One example of how Stem’s solutions are helping a leading brand can be seen in its work with Gap Inc.
In the 50-plus years since it was founded, Gap Inc. has grown from a simple retail jeans store into four multi-billion dollar brands with a global ambition to champion equality, inclusivity, and sus- tainability.
As part of its sustainability commitment, Gap Inc. has set a goal to reach 100% renewable energy across its global owned and operated facilities by 2030.
The company’s Fresno Distribution Center, in California, figures prominently in its sustainability plans. Gap Inc. originally installed 1MW of solar at the facility in 2008 and then, a decade later, signed a power purchase agreement to develop another 3MW of solar on adjacent land.
True to its innovative spirit, Gap Inc. was also an early adopter of energy storage. Since 2018, Stem’s Athena® software has operated the Fresno Distribution Center’s energy storage system. Stem is now installing a 3.8MWh system at Gap Inc. facility in Ontario, Canada that will deliver significant utility bill savings with no upfront costs.
Stem’s best-in-class Athena software optimised the Fresno Distribution Center’s battery storage system to provide automated, set-and-forget utility bill savings via demand charge management and energy arbitrage.
Meanwhile, Stem’s design and deployment experts are ensuring the Ontario system will deliver maximum savings over its 15-year lifetime. Having experienced success with storage, Gap Inc. is now looking at how new solar plus storage projects can contribute to achieving its sustainability goals.