Monday, December 2, 2013

Angeleno Group Backs Stem's Energy Storage Systems

Los Angeles-based cleantech investor Angeleno Group has put more funds towards energy storage startup Stem, as part of a Series B funding round. Stem--which is based in Millbrae, in Silicon Valley--said it closed a $15M, Series B funding round from Iberdrola (Inversiones Financieras Perseo, S.L.), GE Ventures, and Angeleno Group this morning. Stem offers up a battery based energy storage sytsem aimed at the manufacturing, retail, services, and hospitality industries, to help them tap into cheaper electricity offered from the grid at off-peak hours. More information »

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