M&A  December 16, 2021

Stem to pay $695M for Boulder clean-tech company Also Energy

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BOULDER — Stem Inc. (NYSE: STEM), a San Francisco-based provider of artificial-intelligence-driven energy-story software, has agreed to acquire Boulder-based Also Energy Holdings Inc. for $695 million in cash and stock.

The transaction is expected to close in the first quarter of 2022, pending regulatory approval. Shareholders of both companies have already approved the deal.

AlsoEnergy provides solar asset management software, which will be combined with Stem’s storage-optimization capabilities, providing a “one-stop-shop solution for renewable energy projects.”

While Stem’s customer base is largely in North America, AlsoEnergy brings a wider geographic reach.

“AlsoEnergy scales our geographic reach significantly, with assets under management in over 50…

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Christopher Wood
Christopher Wood is editor and publisher of BizWest, a regional business journal covering Boulder, Broomfield, Larimer and Weld counties. Wood co-founded the Northern Colorado Business Report in 1995 and served as publisher of the Boulder County Business Report until the two publications were merged to form BizWest in 2014. From 1990 to 1995, Wood served as reporter and managing editor of the Denver Business Journal. He is a Marine Corps veteran and a graduate of the University of Colorado Boulder. He has won numerous awards from the Colorado Press Association, Society of Professional Journalists and the Alliance of Area Business Publishers.
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