Global Corporate Venturing tracked six direct investments linked to oil and gas corporate venturing units. There was also one undisclosed fund investment by Chevron Technology Ventures, the sponsor of our research, and an exit by Statoil Technology Ventures.
US-based energy optimisation service provider Stem secured funding from energy company Exelon and petroleum producer Total, enabling it to close a $27m series C round. Founded in 2009 as Powergetics, Stem’s cloudbased system links big data and predictive analytics with an advanced battery system, allowing businesses to source energy outside peak times and reducing their electricity costs. Total, which invested through its Total Energy Ventures unit, also intends to partner Stem to help it expand internationally. It has now raised approximately $40m in total equity…
