The energy optimisation company has added Exelon and Total to an investor base already containing General Electric and Iberdrola.
US-based energy optimisation service provider Stem secured funding from energy company Exelon and petroleum producer Total yesterday, enabling it to close a $27m series C round.
Founded in 2009 as Powergetics, Stem’s cloud-based 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 with Stem to help it expand internationally.
Stem received…
