Targeted acquisition brings automated fault detection to PowerTrack™, helping operators cut through alert noise and resolve performance issues faster

Stem, Inc. (NYSE:STEM), a global leader in AI-enabled clean energy software and services, today announced it has acquired the software assets of raicoon GmbH ("raicoon"), a Vienna-based provider of automated fault detection and event management for solar asset performance. The acquisition is expected to enhance Stem's PowerTrack™ platform by improving how operational data is analyzed and translated into action, helping customers identify, prioritize, and resolve performance issues more quickly across their renewable energy portfolios.

"Customers are looking for clearer, more actionable insights from their energy assets, not more noise," said Matt Tappin, President of Software at Stem. "This acquisition further strengthens PowerTrack by enhancing our ability to automatically surface and prioritize the issues that matter most, helping operators resolve performance problems faster and act with greater confidence."

The acquisition directly underscores Stem's 2026 strategic priority of strengthening its core businesses and driving deeper customer value within PowerTrack. Raicoon's technology analyzes large volumes of asset-level data to detect performance anomalies and surface actionable insights. Once integrated, these capabilities will streamline operational workflows, reduce time to resolution, and improve overall asset performance. The solution is already deployed across solar portfolios in Europe, supporting operators through automated fault detection and workflow management.

"Operators don't need more alerts, they need decisions. raicoon was designed to close that gap by automatically identifying what's wrong, what matters, and what to do about it. PowerTrack is already a leading platform for managing clean energy assets, and we're excited to see our technology strengthen it further," said Ralf Tschanun, Co-founder and Chief Product Officer at raicoon. "As part of Stem, we can deliver that to a global customer base on the platform that already sets the standard for clean energy asset management."

Stem will integrate raicoon's core analytics capabilities into PowerTrack over time, with a focus on delivering a unified user experience. The integration is expected to support Stem's broader strategy to simplify how customers manage assets, reduce operational friction, and unlock greater performance from clean energy portfolios.

Existing raicoon customers will continue to be supported with the same platform and service model, now backed by Stem's global resources and access to expanded software capabilities.

For more information on Stem and the PowerTrack Suite, visit stem.com.

About Stem

Stem (NYSE:STEM) is a global leader reimagining technology to support the energy transition. We turn complexity into clarity and potential into performance.

Stem helps asset owners, operators, and energy stakeholders unlock the full value of their portfolios by enabling the intelligent development, deployment, and operation of clean energy assets. Stem's integrated software suite, PowerTrack™, is the industry-standard and best-in-class platform for asset monitoring and optimization and is backed by expert professional and managed services, all delivered under one roof. Designed to address complex energy challenges seamlessly, our technology transforms raw data into clear, actionable insights, providing the visibility and intelligence needed to drive performance. With projects across 55 countries, customers have trusted Stem for nearly 20 years to maximize the value of their clean energy investments.

Driven by human and artificial intelligence, Stem is unlocking energy intelligence. Learn more at stem.com.

About raicoon GmbH

raicoon GmbH, headquartered in Vienna, Austria, has built the world's first autonomous operations center for solar assets. Founded in 2020 by solar O&M domain experts, raicoon moves operators beyond monitoring by automatically detecting performance faults, filtering out false alerts, and generating and dispatching the work orders required to resolve them. raicoon's solution helps operators increase energy yield and reduce operating costs across utility-scale and commercial solar portfolios worldwide.

Forward-Looking Statements

This press release, as well as other statements we make, contains "forward-looking statements" within the meaning of the federal securities laws, which include any statements that are not historical facts. Such statements often contain words such as "expect," "may," "can," "believe," "predict," "plan," "potential," "projected," "projections," "forecast," "estimate," "intend," "anticipate," "ambition," "goal," "target," "think," "should," "could," "would," "will," "hope," "see," "likely," and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as statements about our acquisition of the software assets of raicoon and its expected benefit to customers, our business strategies and those of our customers; our ability to retain or upgrade current customers, and our ability to further penetrate existing markets or expand into new markets. Such forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results or outcomes to differ materially from those expressed or implied by such forward-looking statements, including but not limited to our inability to execute on, and achieve the expected benefits from our acquisition of the software assets of raicoon, as well as our operational and strategic initiatives; including from our cost reduction, workforce reduction and restructuring efforts; our inability to successfully execute on our strategy; the effects of the One Big Beautiful Bill on our business and that of our customers; disruptions in sales, production, service or other business activities; general macroeconomic and business conditions in key regions of the world, including inflationary pressures, general economic slowdown or a recession, high interest rates, changes in monetary policy, changes in trade policies, including tariffs or other trade restrictions or the threat of such actions, and instability in financial institutions; the direct and indirect effects of widespread health emergencies on our workforce, operations, financial results and cash flows; geopolitical instability, such as the armed conflict between Russia and Ukraine, the U.S.-Israel war with Iran and conflicts in the Gaza Strip and nearby areas; the results of operations and financial condition of our customers; pricing pressures; severe weather and seasonal factors; our inability to continue to grow and manage our growth effectively; our inability to attract and retain qualified employees and key personnel; our inability to comply with, and the effect on our business of, evolving legal standards and regulations, including those concerning data protection, consumer privacy, sustainability, and evolving labor standards; risks relating to the development and performance of our software-enabled services; our inability to retain or upgrade current customers, further penetrate existing markets or expand into new markets; the risk that our business, financial condition and results of operations may be adversely affected by other political, economic, business and competitive factors; and other risks and uncertainties discussed in this release and in our most recent Forms 10-K, 10-Q and 8-K led with or furnished to the SEC. If one or more of these or other risks or uncertainties materialize (or the consequences of any such development changes), or should our underlying assumptions prove incorrect, our actual results or outcomes, or the timing of these results or outcomes, may vary materially from those reflected in our forward-looking statements. Forward-looking statements and other statements in this release regarding our environmental, social, and other sustainability plans and goals are not an indication that these statements are necessarily material to the Company, investors, or other stakeholders, or required to be disclosed in our lings under U.S. securities laws or any other laws or requirements applicable to the Company. In addition, historical, current, and forward-looking environmental, social, and sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future. Forward-looking statements in this press release are made as of the date of this release, and the Company disclaims any intention or obligation to update publicly or revise such forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

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Stem Acquires raicoon to Expand PowerTrack Capabilities