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60-day contract-to-deployment timeline exemplifies Stem’s software-centric strategy to maximize profitability and drive scalable growth
SAN FRANCISCO, December 17, 2024--(BUSINESS WIRE)--Stem (NYSE: STEM) ("Stem" or the "Company"), a global leader in artificial intelligence (AI)-enabled clean energy software and services, today announced that Mercuria Energy Trading, a leading global energy trader, has standardized on Stem’s PowerBidder™ Pro to support bidding management and optimization strategies for a second clean energy asset within the Electric Reliability Council of Texas (ERCOT). Deployed fewer than 60 days after contracting, the software’s industry-leading integration and configuration capabilities enabled an accelerated timeline for Mercuria’s trading teams to take control of the asset. This is the second Mercuria asset supported by Stem’s PowerBidder Pro since Q3 2024, representing success for Stem’s refined software and services-centric strategy in driving predictable, scalable growth and profitability for the Company.
"Mercuria holds extensive expertise in the energy market but it’s imperative to have a technology partner to optimize this knowledge against evolving market dynamics. Stem’s PowerBidder Pro has effectively automated these complexities, allowing our traders to focus on strategic opportunities to maximize returns," said Cody Moore, Head of Gas and Power Trading at Mercuria. "PowerBidder Pro’s extensive configurability and quick integration timeline combined with the advanced automation capabilities have been valuable this year and are a strong differentiator. We appreciate Stem's strong partnership, technical product and market expertise, and excellent customer service from contract execution to operational support as Mercuria expands our clean energy asset portfolio within ERCOT."
"Participants in today’s highly complex wholesale power markets need trusted, proven partners with solutions that deliver high levels of performance, flexibility, and control. Regardless of a customer’s return objectives, risk appetite, and energy trading capabilities, Stem’s PowerBidder Pro empowers them with fully configurable strategies in automated or manual bidding mode, accompanied by analytics and insights that inform future decisions," said Cedric Brehaut, Senior Vice President of Product at Stem. "Stem is proud of the proven value we have already delivered to Mercuria and of our growing partnership as a result. We look forward to continuing profitable growth in ERCOT."