Stem Acquires raicoon to Expand PowerTrack Capabilities

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

HOUSTON--(BUSINESS WIRE)--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

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