CEO Carrington says combination will ‘accelerate next phase of growth’ However, Stem’s financial results for 2020, shown in a Form S-4 filed with the US Securities and Exchange Commission (SEC) in March ahead of the combination, demonstrated some of the challenges and risks that lie ahead. Lesser wrote that Stem Inc may be better suited to the SPAC merger route of going public - which can be high risk but also high reward - than some others in the clean, smart and renewable energy industries. While financial expert Charles Lesser at consultancy Apricum wrote in a Guest Blog for this site that Stem was a classic example of a clean energy company with a de-risked business model and strong equity returns that nonetheless saw access to capital as its “final impediment to growth”. “We remain well positioned for significant visible growth, including a more than four-fold expected annual increase in our 2021 revenue, 100% of which is covered by our contracted backlog.” “With over US$500 million of cash on the balance sheet, zero debt and a new public platform, we are now armed with the capital that will help propel Stem’s product, capabilities and market reach to the next level,” Stem’s chief financial officer, Bill Bush, said. “We are more confident than ever in Stem’s significant value, offering investors a unique ESG opportunity to invest in a pure-play clean energy company that’s helping to revolutionise the electric grid.” The listing makes the California-headquartered company “the first pure-play smart energy storage company to go public in the US,” Stem director and Star Peak chairman Michael Morgan said. Star Peak now changes its name to Stem Inc and common stock and warrants in the newly combined entity begin trading today under the tickers “STEM” and “STEM.WS”. View source version on businesswire.Yesterday, Stem said in a press release that the Board of Directors at Star Peak unanimously approved the transaction at a special meeting of the SPAC’s stockholders, held on 27 April. Stem also offers integrated partner solutions to help improve returns across energy projects, including storage, solar, and EV fleet charging. Powerful applications, including AlsoEnergy’s PowerTrack, simplify and optimize asset management and connect an ecosystem of owners, developers, assets, and markets. Stem’s leading AI-driven enterprise software platform, Athena ® enables organizations to deploy and unlock value from clean energy assets at scale. Stem provides clean energy solutions and services designed to maximize the economic, environmental, and resiliency value of energy assets and portfolios. An archive of the webcast will be available shortly after the call on Stem’s website at for twelve months following the call. The replay will be available until Sunday, September 3. The call can also be accessed live over the telephone by dialing (855) 327-6837, or for international callers (631) 891-4304 and referencing Stem.Ī replay will be available shortly after the call and can be accessed by dialing (844) 512-2921, or for international callers, (412) 317-6671. The conference call may be accessed via a live webcast on a listen-only basis at. A press release regarding the results will be issued at approximately 4:05 p.m. The conference call is scheduled to begin at 5:00 p.m. (NYSE: STEM), a global leader in artificial intelligence (AI)-driven clean energy software and services, will hold a conference call on Thursday, August 3, 2023, to discuss its financial results for the quarter ended June 30, 2023.
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