MILLBRAE, Calif.--(BUSINESS WIRE)--Stem, Inc., a leader in advanced energy technology, today announced it has finalized an agreement to install and manage energy intelligence systems for Extended Stay America, Inc., the largest company-owned and operated hotel chain in the U.S. After the successful performance of a pilot project, Extended Stay America will deploy Stem advanced energy storage systems and real-time energy intelligence software across 68 of its California locations.
By drawing on previously stored power during peak times of the day, Stem reduces Extended Stay America’s energy costs without any impact to the hotels’ daily operations. The fully automated advanced storage systems enable Extended Stay America to apply a hands-off approach to reducing energy bills.
“The Stem system is invisible to our guests and our staff - it’s simply a great way to save on energy costs. In addition, the software provides us with a clear view of electricity usage and activity at our California sites,” said Larry Fichuk, Director of Energy and Sustainability at Extended Stay America. “We look forward to the benefits and impact we can have on the environment from working with Stem.”
The Extended Stay America locations will adopt Stem’s PowerStore unit, which is optimized to fit seamlessly within existing building facilities. The pilot installation, located in San Jose, Calif., was initiated in late 2013, and the remaining systems are expected to come online by early 2015.
“Extended Stay America has demonstrated its deep commitment to advancing the sustainability of its operations,” said Stem CEO John Carrington. “With the support of our energy intelligence solution, Extended Stay America strengthens this legacy while also benefiting from immediate and long-term energy savings. At the same time, this is an important milestone for Stem as we deploy our systems widely across California.”
About Stem
Stem, a leading provider of energy optimization services, combines big data, predictive analytics and energy storage to reduce electricity costs for businesses. The company’s solution requires no compromises on building occupant comfort and offers unparalleled energy insights, allowing a comprehensive view into past, present and future energy use. As demands on the grid continue to increase, Stem’s system enables good energy citizenship and unlocks the potential for expanded renewable energy integration. Headquartered in Millbrae, California, Stem is funded by a consortium of leading investors including Angeleno Group, Iberdrola (Inversiones Financieras Perseo) and GE Ventures.
About Extended Stay America
Extended Stay America, Inc., the largest owner/operator of company-branded hotels in North America, owns and operates 682 hotels in the U.S. and Canada comprising approximately 76,000 rooms and employs approximately 10,000 employees in its hotel properties and headquarters. The Company owns and operates hotels under the core brand Extended Stay America®, which serves the midpriced extended stay segment, and other brands. Visit www.extendedstay.com for more information about the Company and its services.
