INOAC Selects Stem for 2.5 MWh of AI-Powered Energy Storage in Canada

International automotive parts supplier leverages Stem’s Canadian
experience and software to reduce energy costs in Ontario

MILLBRAE, Calif.–(BUSINESS WIRE)–Stem, the global leader in artificial intelligence (AI)-driven energy
storage services, is deploying a 2.5 MWh energy storage system in St.
Mary’s, Ontario at INOAC
Interior Systems. INOAC, a leading supplier to the automotive industry,
will save money and help reduce the expensive electricity peaks that
impact all electricity consumers in the province. With Stem, INOAC will
reduce their Global Adjustment and energy costs automatically—without
changing plant operations or making a capital investment.

Based in Japan, INOAC is a privately-held, diversified manufacturing
company established in 1926, with over 100 facilities operating in 20
countries and over 20,000 employees.

“As an environment-friendly manufacturer, INOAC has strong environmental
policies that guide our corporate operations. The opportunity to
leverage an emissions-free resource while improving cost efficiency were
the driving factors in our decision,” said Roger Dawes, President of
INOAC Interior Systems Inc. “Stem’s AI-driven platform and execution
experience enables an automated way to reduce energy costs with no
interference in our operations.”

Each year, the Independent Electricity System Operator (IESO) determines
Ontario’s five highest hours of net energy demand for the previous 12
months. Class A eligible customers that participate in the Industrial
Conservation Initiative pay Global Adjustment based on their percentage
contribution to the top five peak demand hours.

“Unleashing the benefits of energy storage technology is a key focus of
Ontario’s 2017 Long-Term Energy Plan and an important part of our
continued commitment to improve energy affordability for our province’s
job creators. Through our Industrial Conservation Initiative (ICI)
program, we’re also providing incentives for large electricity
consumers, like INOAC Interior Systems, to reduce their consumption
during peak hours and lower their electricity costs. This program is
benefiting both families and businesses, and the electricity system as a
whole by deferring the longer-term need for investments in new peaking
generation,” said Glenn Thibeault, Minister of Energy.

Stem’s Global Adjustment offering—specifically designed for Ontario—is
ideal for large manufacturing plants and other industrial operations
that seek improved control over energy costs and a way to make the
electric grid more sustainable. Athena™,
Stem’s artificial intelligence platform, enables Ontario businesses to
reduce their peak usage which drives their Global Adjustment. Using
predictive analytics and high speed data feeds from the buildings,
weather services, and the wholesale market to anticipate peak hours,
Athena is able to release stored energy at exactly the right times to
help customers. With Stem’s superintelligent Ontario offering, customers
enter into a simple service agreement to access the power of flexible,
fast-acting energy storage to maximize savings and help the grid.

“Manufacturers and industrial companies typically have intense energy
needs. With Ontario Teacher’s Pension Plan recently joining the ranks of
Stem’s global investors, a growing Ontario-based team, and Athena’s
ability to incorporate fast changing market information, Stem has
everything needed to help businesses and further Ontario’s clean energy
goals,” said John Carrington, CEO of Stem. “We’re excited to partner
with INOAC to reduce their energy costs and support their sustainability
efforts in Canada.”

Stem is the global pioneer of energy storage-based real-time energy
optimization for commercial and industrial customers, and is backed by
the industry’s largest project finance pool of US $500 million. Visit
Stem’s website to learn more about Stem’s Global Adjustment offering, at http://www.stem.com/canada/.

About Stem, Inc.

Stem creates innovative technology services that transform the way
energy is distributed and consumed. AthenaTM by Stem is the
first AI for energy storage and virtual power plants. It optimizes the
timing of energy use and facilitates consumers’ participation in energy
markets, yielding economic and societal benefits while decarbonizing the
grid. The company’s mission is to build and operate the smartest and
largest digitally-connected energy storage network for our
customers. Headquartered in Millbrae, California, Stem is directly
funded by a consortium of leading investors including Activate Capital,
Angeleno Group, Constellation Technology Ventures, Iberdrola
(Inversiones Financieras Perseo), GE Ventures, Mithril Capital
Management, Mitsui & Co. LTD., Ontario Teachers’ Pension Plan, RWE
Supply & Trading, Temasek, and Total Energy Ventures. Visit www.stem.com
for more information.

About INOAC

For over 50 years, INOAC has been in the business of creating value.
While many focus on providing solutions, INOAC's commitment is in
working with partners to look forward and not simply solve for today,
but to create products and materials for tomorrow. INOAC was the very
first to introduce polyurethane foaming technology in Japan and has
become a leading innovator of polyurethane technology worldwide.
However, rather than specializing in a single area of business, INOAC
has added other materials such as rubber, plastics and compound
materials. As our material expertise has expanded, so too have the
industries that we contribute to including: automotive, electronics,
home furnishings, consumer products, building materials, and healthcare.
For more information, please visit www.inoacusa.com.

© 2018 Stem, Inc. All Rights Reserved. Stem and the Stem logo are
registered trademarks of Stem Incorporated in the U.S.

Contacts

Antenna Group for Stem, Inc.
Josh Garrett, +1-646-357-3445
[email protected]