Company Announcements

Joint solution to combine Stem’s PowerTrack™ EMS Solution with Nuvation Energy’s BMS to help meet growing demand for secure, domestically sourced energy infrastructure

HOUSTON--(BUSINESS WIRE)--Apr. 30, 2026-- Stem, Inc. (NYSE: STEM), a global leader in AI-enabled clean energy software and services, today announced a co-marketing agreement with Nuvation Energy, a North American provider of battery management and energy control solutions, to jointly promote a fully North American-made battery energy storage system (BESS) control stack.

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Stem and Nuvation Energy provide an integrated control stack, from cloud software through edge controls to the BESS and power conversion system

The agreement brings together Stem’s PowerTrack Energy Management System (EMS) and Unit Controller with Nuvation’s Battery Management System (BMS), creating an integrated control layer designed to meet growing demand for secure, compliant, and domestically sourced energy infrastructure. PowerTrack EMS provides site-level scheduling, utility dispatch, grid coordination, and edge-to-cloud telemetry, while Nuvation’s BMS delivers cell-level monitoring, protection, and state-of-charge optimization. Together, they create a more integrated and intelligent battery energy storage solution and a North American-designed and manufactured control solution.

“Customers are asking for greater transparency, control and confidence in the technologies deployed across their energy assets,” said Matt Tappin, President of Software at Stem. “This collaboration will allow us to deliver a more integrated solution that directly addresses those priorities, while enhancing system performance, reliability of the system, and long-term value for our customers.”

As regulatory requirements tighten across the United States, including Foreign Entity of Concern (FEOC) restrictions, and growing state-level legislation, developers and asset owners are actively seeking alternatives to control architectures that rely on foreign-manufactured or controlled components.

In response, some manufacturers are taking shortcuts to meet compliance thresholds, relying on rebranded products or minimally modified designs rather than investing in genuine North American engineering. These approaches may satisfy certain regulatory requirements while leaving critical safety and cybersecurity standards unaddressed.

“For developers, utilities, and project owners who need to get ahead of tightening compliance requirements, this solution is built to meet both the letter and the spirit of the law. By combining Nuvation's battery management system with Stem's energy management platform, we are delivering a solution where the critical control electronics are North American designed and manufactured, a clear and credible alternative that is technically robust and commercially relevant,” said Michael Worry, CEO/CTO at Nuvation Energy.

Nuvation Energy has been developing BMS technology since 2008, with products deployed across commercial, industrial, and utility-scale energy storage projects. All Nuvation solutions are developed and manufactured in the United States and Canada by a fully North American-based team.

Under the agreement, Stem and Nuvation will collaborate on a coordinated go-to-market strategy that includes joint thought leadership, trade show participation, and the development of co-branded collateral. The companies will also align their sales efforts, working together on identified opportunities, enabling closer commercial coordination, while preserving independent commercial structures.

The integrated solution will undergo joint performance validation and testing prior to customer deployment. Stem will lead EMS and system integration, including controls and telemetry across the BESS and power conversion system, while Nuvation will provide the BMS hardware and interfaces required for seamless integration.

About Stem

Stem (NYSE: STEM) is a global leader reimagining technology to support the energy transition. We turn complexity into clarity and potential into performance.

Stem helps asset owners, operators, and energy stakeholders unlock the full value of their portfolios by enabling the intelligent development, deployment, and operation of clean energy assets. Stem’s integrated software suite, PowerTrack, is the industry-standard and best-in-class platform for asset monitoring and optimization and is backed by expert professional and managed services, all delivered under one roof. Designed to address complex energy challenges seamlessly, our technology transforms raw data into clear, actionable insights, providing the visibility and intelligence needed to drive performance. With projects across 55 countries, customers have trusted Stem for nearly 20 years to maximize the value of their clean energy investments.

Driven by human and artificial intelligence, Stem is unlocking energy intelligence. Learn more at stem.com.

About Nuvation Energy

Nuvation Energy provides battery management and energy control solutions for large-scale energy storage systems. With BMS technology in development since 2008 and delivering products at scale since 2015, Nuvation has deployments across hundreds of commercial, industrial, and utility-scale installations worldwide. Nuvation's core BMS products are UL 1973 Recognized and are designed, engineered, and manufactured in the United States and Canada by a fully North American-based team. Nuvation is wholly owned by U.S. and Canadian citizens and retains full ownership of all product intellectual property with no licensing of external products. Security is built into every layer of Nuvation's products, from network-level protections including firewalls, encrypted communications, and hardware authentication, to supply chain integrity ensured through domestic design and manufacturing. Nuvation Energy is a brand of Nuvation Research Corporation, which also includes Nuvation Engineering, a provider of electronic design services with over 1,000 projects delivered since 1997.

Forward-Looking Statements

This press release, as well as other statements we make, contains “forward-looking statements” within the meaning of the federal securities laws, which include any statements that are not historical facts. Such statements often contain words such as “expect,” “may,” “can,” “believe,” “predict,” “plan,” “potential,” “projected,” “projections,” “forecast,” “estimate,” “intend,” “anticipate,” “ambition,” “goal,” “target,” “think,” “should,” “could,” “would,” “will,” “hope,” “see,” “likely,” and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as statements about our acquisition of the software assets of raicoon and its expected benefit to customers, our business strategies and those of our customers; our ability to retain or upgrade current customers, and our ability to further penetrate existing markets or expand into new markets. Such forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results or outcomes to differ materially from those expressed or implied by such forward-looking statements, including but not limited to our inability to execute on, and achieve the expected benefits from our acquisition of the software assets of raicoon, as well as our operational and strategic initiatives; including from our cost reduction, workforce reduction and restructuring efforts; our inability to successfully execute on our strategy; the effects of the One Big Beautiful Bill on our business and that of our customers; disruptions in sales, production, service or other business activities; general macroeconomic and business conditions in key regions of the world, including inflationary pressures, general economic slowdown or a recession, high interest rates, changes in monetary policy, changes in trade policies, including tariffs or other trade restrictions or the threat of such actions, and instability in financial institutions; the direct and indirect effects of widespread health emergencies on our workforce, operations, financial results and cash flows; geopolitical instability, such as the armed conflict between Russia and Ukraine, the U.S.-Israel war with Iran and conflicts in the Gaza Strip and nearby areas; the results of operations and financial condition of our customers; pricing pressures; severe weather and seasonal factors; our inability to continue to grow and manage our growth effectively; our inability to attract and retain qualified employees and key personnel; our inability to comply with, and the effect on our business of, evolving legal standards and regulations, including those concerning data protection, consumer privacy, sustainability, and evolving labor standards; risks relating to the development and performance of our software-enabled services; our inability to retain or upgrade current customers, further penetrate existing markets or expand into new markets; the risk that our business, financial condition and results of operations may be adversely affected by other political, economic, business and competitive factors; and other risks and uncertainties discussed in this release and in our most recent Forms 10-K, 10-Q and 8-K led with or furnished to the SEC. If one or more of these or other risks or uncertainties materialize (or the consequences of any such development changes), or should our underlying assumptions prove incorrect, our actual results or outcomes, or the timing of these results or outcomes, may vary materially from those reflected in our forward-looking statements. Forward-looking statements and other statements in this release regarding our environmental, social, and other sustainability plans and goals are not an indication that these statements are necessarily material to the Company, investors, or other stakeholders, or required to be disclosed in our lings under U.S. securities laws or any other laws or requirements applicable to the Company. In addition, historical, current, and forward-looking environmental, social, and sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future. Forward-looking statements in this press release are made as of the date of this release, and the Company disclaims any intention or obligation to update publicly or revise such forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

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For News Media:
Stem Investor Contacts
Erin Reed, Stem
Marc Silverberg, ICR
IR@stem.com

Stem Media Contact
Tatjana Legans, Stem
press@stem.com

Source: Stem, Inc.