Stem Inc

NYSE: STEM48Mixed / Improving· Provisional

0 followersEnergy storage·San Francisco, CA, US·Founded 2009

www.stem.com

AI-driven energy storage software company whose Athena platform forecasts demand and optimises dispatch of battery storage assets for commercial and utility customers.

48/100

Mixed / Improving· Provisional

ClimateTicker Green Score · how it's calculated

Greenwashing risk: mediumData confidence: medium

Why it's on ClimateTicker

Stem's core business — AI-optimized dispatch of battery storage and solar assets via its Athena/PowerTrack platform — genuinely enables grid decarbonization by shifting renewable energy to peak demand periods and reducing reliance on fossil-fuel peaker plants. The climate enablement value is real but indirect: Stem itself does not own or operate clean energy assets but provides the software layer that lets others do so more effectively. Financial distress (69% revenue decline in 2024, $854M net loss, 27% workforce cut in 2025) introduces execution risk that investors must weigh alongside the climate thesis.

enablerStem earns revenue through software-as-a-service (SaaS) subscriptions and managed services fees tied to its Athena and PowerTrack platforms, which optimize storage and solar assets for commercial, industrial, and utility customers; it is pivoting away from lower-margin battery hardware resale toward recurring software and services revenue.

Controversy & Greenwashing Watch

lowNo SBTi, CDP, or Verified Sustainability Disclosure

Despite marketing itself as a climate-tech enabler managing 32+ GW of clean assets globally, Stem has filed no CDP response, holds no SBTi commitment or validated targets, and has published no standalone ESG report with independently verified GHG data.source ↗

medium27% Workforce Reduction and HQ Closure (2025)

Stem laid off 27% of its global workforce and closed its San Francisco headquarters in April 2025, with the CEO acknowledging the company faced 'a large debt burden, limited operating cash, and is not operationally profitable.'source ↗

medium69% Revenue Collapse and $854M Net Loss (2024)

Stem reported a 69% year-on-year revenue decline to $144.6M and a net loss of $854M in 2024, driven by a collapse in battery hardware sales and a strategic pivot that raised serious questions about prior financial guidance.source ↗

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