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Startup Stem raises funds for energy data analytics, machine learning & smarter batteries

on December 3, 2013

Gigaom

Here’s the basic idea behind startup Stem: install batteries at a building and use software to convert the building over to battery power (instead of using power from the grid) when energy from the power grid is expensive (like a hot Summer day). Large power companies seem to think it’s a good idea, and on Monday Stem announced that it’s raised $15 million from new investors including GE and Spanish power giant Iberdrola.

Stem was founded back in 2009 as Powergetics and it rebranded as Stem last year. The company launched its first battery and analytics system with a hotel in San Francisco a year ago, and now they’re working on installing about a megawatt of systems across Hawaii.

StemHQFor Hawaii — and other regions with a lot of solar panel farms and wind farms coming online — Stem’s smart battery systems can also help stabilize the grid…

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