Stem, Inc. has acquired raicoon for an undisclosed amount. raicoon specializes in making solar asset operations autonomous through its cloud-based SaaS platform, the autonomous operations center (AOC). This system leverages artificial intelligence and machine learning to provide automated fault detection and diagnostics, aiming to increase the energy yield of photovoltaic plants and improve operational efficiency for solar asset managers and O&M professionals. The AOC is designed to detect 100% of measurable faults with zero false alarms, making real-time decisions based on current and historical data, and includes a simple-to-use ticket and communication system.
This strategic acquisition is set to enhance Stem, Inc.'s capabilities within the rapidly evolving renewable energy sector. raicoon's technology directly addresses the increasing demand for efficient and automated management of solar assets, a critical component as the market grows and manual operations become unsustainable. The company has a proven track record, having recovered over 133 million kWh of energy across more than 2,000 systems under contract. This demonstrates its ability to improve PV plant efficiency by approximately 6% and boost bottom lines by 30-50% by improving the efficiency of existing renewable energy systems.
The integration of raicoon's autonomous operations platform into Stem, Inc.'s portfolio is expected to create significant synergies. By combining raicoon's advanced fault detection, diagnostics, and automated decision-making capabilities with Stem, Inc.'s existing offerings, the combined entity aims to deliver more comprehensive and optimized solutions for managing renewable energy infrastructure. This move positions Stem, Inc. to further accelerate the energy transition by improving the efficiency of existing renewable energy systems and rescuing valuable energy that would otherwise be wasted, right now, today.