Stem Inc. (NASDAQ: STEM) stock gained by 10.82% at last close while the STEM stock price continued to rise by 5.64% in the pre-market trading session. Stem offers solutions to the problems that today’s competitive energy market presents. Stem allows consumers and collaborators to maximize electricity usage by seamlessly transitioning between battery power, onsite generation, and grid power by integrating integrated energy storage technologies with Athena, a world-class AI-powered analytics tool.
Significant Development
Matt Tappin has been named Vice President of Corporate Development at STEM, and he has joined STEM’s executive leadership committee on May 24, 2021. Tappin will be in charge of STEM’s inorganic growth policy, which includes mergers and acquisitions (M&A), partnerships, joint ventures, and other related matters.
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Tappin has a lot of experience designing corporate strategies for the energy revolution and putting those strategies into action to drive progress. Before joining Stem, he worked in senior corporate development roles at Royal Dutch Shell, where he concentrated on power acquisitions, and Centrica, where he oversaw global corporate development for the distributed energy market. He merged policy growth with deal implementation in these capacities, successfully executing a variety of strategic acquisitions, transactions, alliances, and new market initiatives.
Upon joining STEM Tappin said, Stem has unrivaled energy storage expertise and market-leading software, and it is transforming the grid with value-added services. During this critical period as a new public entity, he is looking forward to assisting STEM in developing and executing its growth plan.
John Carrington, Director and CEO stated:
The Biden administration’s dedication to renewables, corporate demand for sustainable technologies, and global acceptance of both behind the meter and front of the meter energy storage are both causing storage expansion. STEM welcomes Matt’s experience in corporate growth and M&A as Stem expands its capability and global footprint. With STEM’s solid balance sheet and lead execution as they expand inorganically, Matt will help in a way to frame and prioritize the vast array of strategic opportunities open to STEM.
