Climate Changed
Energy-Storage Company Stem Gets Funding for Projects in Canada
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Stem Inc., a U.S. provider of energy-storage systems, arranged C$200 million ($152 million) in commitments from the Ontario Teachers’ Pension Plan to finance projects in the province.
The pension plan also contributed to Stem’s $80 million Series D financing announced in January. Stem said in a statement Tuesday that it has raised an additional $26 million for the round from investors including BNP Paribas SA and Magnesium Capital.