Stem Inc. announced a multiyear partnership with a major European utility that was not named. The deal will deploy Stem’s Athena AI-driven energy storage software across the utility’s growing portfolio of grid-scale battery projects.
The agreement is expected to bring more than 500 MWh of storage assets under Stem’s management in Europe over the next three years, expanding the company’s international footprint.
Stem shares had a positive but muted reaction in early trading. Analysts said the partnership advances Stem’s global expansion strategy and validates its software platform in a new, complex energy market.
The financial terms were not disclosed. The deal is expected to generate recurring, high-margin software revenue for Stem.