Stem Inc gains on battery supply deal for Texas energy storage project

Stem

08/12/2022 18:30

** Energy storage company Stem Inc's shares  STEM.N  up 1.5%
at $10.37
    ** STEM announces four 9.9 megawatts standalone energy
storage projects worth $400 mln in Texas with REX Storage
Holdings LLC  urn:newsml:reuters.com:*:nBw6TnyqLa
    ** STEM to supply its battery hardware, Athena, and services
over each project's operating life
    ** The initial four energy storage systems are currently
under construction and are planned to come online in 2023,
according to Stem
    ** Accounting for session gains, company's stock down 45%
YTD
 (Reporting by Arshreet Singh in Bengaluru)
 ((Arshreet.Singh@thomsonreuters.com))