Total buys California-based software technology company to help development of alternative energies

Total Energy Ventures, a unit of French oil major Total, said in a press release issued January 12 that it is investing in a company named Stem in California in a move in part to help alternative energies development and which could also help optimize consumption.

According to the statement the company produces technology for energy storage and management.

“We believe that the combination of information technologies and energy storage solutions can significantly reshape the way power is distributed and enable greater, more flexible use of renewable energies,” said Bernard Clement, senior vice president of Total New Energies.

“This investment will contribute to research and development in innovative technologies that will help certain Total facilities and SunPower customers optimize their energy consumption,” the statement said.

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