Renewable energy jobs at Stem

Stem has completed notable projects such as deploying 15 energy storage systems (ESS) in a single U.S. town, forming a VPP that utilizes their Athena software for demand response (source: substack.com). Another significant project involved a California State University deployment that offset $70,000 in annual costs while reducing grid strain by 1.4 MW, showcasing the effectiveness of their solutions in real-world applications (source: substack.com). In 2023, Stem secured the Project Polyphemus contract aimed at enhancing grid resilience through advanced storage and software that optimizes distribution across a wide network (source: dcfmodeling.com). Their ongoing efforts emphasize FTM utility-scale battery projects developed in collaboration with partners, layered with software and services, and VPP/grid services like frequency regulation (source: junkbondinvestor.com). Key clients include California State University, SunPower, and a diverse base of 16,000 customers, with approximately 30% overlap with AlsoEnergy's client base.

In the last two years, Stem announced the 2023 Project Polyphemus contract win, further solidifying its position as North America’s largest VPP operator, as recognized by Wood Mackenzie (source: dcfmodeling.com). The company issued a $200 million 4.25% green convertible note in March 2023 to repurchase existing notes and fund operations, reflecting strategic cash flow management amid growth (source: junkbondinvestor.com). The acquisition of AlsoEnergy for $695 million in 2021 marked a significant milestone, adding substantial revenue and enhancing their software capabilities (source: nanalyze.com). Revenue growth has been notable, with figures reaching $462 million in 2023, up from $363 million in 2022, alongside a backlog exceeding $1.6 billion (source: junkbondinvestor.com). Recent milestones also include the rebranding of PowerTrack and a renewed focus on software amid hardware shifts, further establishing their market presence.

Stem offers a variety of roles across hardware sales for FTM projects, software engineering for the PowerTrack/Athena platform, and professional services that include engineering, operations, and optimization (source: stem.com). The company is actively hiring, particularly in San Francisco, California, where its headquarters is located, with opportunities in utility-scale and VPP-related fieldwork (source: linkedin.com). The culture at Stem is characterized by rapid scaling, with a tenfold revenue growth from 2020 to 2023, and a strong emphasis on AI innovation under CEO John Carrington since at least 2022 (source: bizjournals.com). While specific benefits are not detailed, the company highlights real-time expert support in professional services, suggesting access to advanced tools and a performance-driven structure for employees (source: stem.com). However, the high-pressure growth environment, influenced by SPAC origins and debt management, indicates a focus on maintaining margins and cash flow under investor scrutiny.