Stem completed the acquisition of AlsoEnergy from Clairvest Group for $695m.

Stem, a provider of artificial intelligence-driven energy storage software and services, completed the acquisition of AlsoEnergy, a provider of solar asset management software, from Clairvest Group, an equity management firm, for $695m. The transaction will combine Stem’s unique storage optimization capabilities with AlsoEnergy’s market-leading solar asset performance monitoring and control software to deliver a compelling one-stop-shop solution for renewable energy projects. In addition, Stem will offer its smart energy storage solutions to AlsoEnergy’s existing front-of-meter and commercial & industrial customers, who generally have limited storage attachment to their solar assets today. AlsoEnergy will gain earlier visibility into solar plus storage projects through Stem’s extensive customer and partner network.