Selection highlights Stem's track record in New York's complex energy storage markets

Stem, Inc. (NYSE:STEM), a global leader in AI-enabled clean energy software and services, today announced that it has entered into a new services agreement with Bluesphere Ventures to support its portfolio of standalone battery energy storage projects participating in New York's Value of Distributed Energy Resources (VDER) program.

Under the agreement, Stem will provide revenue modeling, market analysis, and intelligence across Bluesphere Ventures' pipeline of battery storage projects located within Consolidated Edison (ConEd) territory in New York City. Stem's analysis evaluates multiple tariff structures, cycling scenarios, and revenue stacking strategies available under New York's VDER program, drawing on Stem's active operating experience across each modeled scenario. The engagement also incorporates Stem's proprietary Local Law 97 (LL97) optimization capability, a novel revenue stream modeled exclusively for Bluesphere Ventures as part of this engagement.

"New York is one of the most complex and opportunity-rich markets for standalone storage in the country and getting the revenue modeling right at the outset is critical," said Mike Carlson, President of Managed Services at Stem. "What sets our approach apart is that we model these systems the same way we operate them, informed by real runtime data from assets already in the ground. That discipline closes the gap between projected and actual performance, and it gives our clients a much more grounded basis for their investment decisions."

The VDER program, administered by the New York Public Service Commission, is designed to compensate distributed energy resources for the value they provide to the grid, including reductions in peak demand, locational benefits, and environmental attributes. For standalone storage developers, accurately modeling revenue potential under VDER requires deep familiarity with local market structures, utility tariff options, and how dispatch decisions translate into real-world compensation. Getting that analysis right at the investment stage can materially affect project economics and long-term portfolio performance.

"We sought a partner with deep hands-on experience in the New York storage market, not just familiarity with it," said Dustin Muscato, Partner and Principal at Bluesphere Ventures. "Stem's ability to model real dispatch behavior based on actual operating assets gave us confidence that the results were realistic. That credibility matters when you're making investment decisions and designing an expanding portfolio."

Eddie Soleymani, CEO of Bluesphere Ventures, added: "Stem's impact went beyond modeling. They strengthened our investment thesis and supported critical strategic decisions. As we expand in the ConEd VDER market and beyond, having Stem as a commercial partner is invaluable."

Stem's Managed Services practice helps asset owners, developers, and investors evaluate and operate clean energy projects across the full project lifecycle. The practice draws on more than 1.5 GWh of operational runtime data and deep experience in complex markets like VDER, applying the same dispatch logic used in real-time operations to inform pre-investment decision-making. As distributed energy programs in New York and other markets grow in complexity, that combination of technical modeling and operational experience is increasingly what customers are looking for.

For more information, 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 Bluesphere Ventures

Bluesphere Ventures is an energy storage development company focused on designing and developing 5MW standalone battery storage systems that enhance grid stability, reliability, and efficiency. The company specializes in bringing "ready-to-buy" projects to market for institutional investors and long-term asset holders, enabling utilities, renewable energy producers, and government entities to meet energy independence and clean energy mandates. Bluesphere Ventures' standardized, scalable approach allows for faster interconnection timelines and flexible deployment across diverse sites and applications.

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