Stem, a provider of AI-enabled clean energy software and services, has acquired the software assets of raicoon, a company specializing in automated fault detection and event management for solar asset performance. The transaction value was not disclosed.

raicoon’s software analyzes asset-level data to detect performance anomalies and surface actionable insights. The technology is reported to have been deployed across solar portfolios in Europe and to support 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.

The acquisition is expected to enhance Stem’s clean energy asset management platform, PowerTrack, by improving the ability to analyze operational data and translate it into action, helping customers identify, prioritize, and resolve performance issues across their renewable energy portfolios. Existing raicoon customers are stated to receive support under the same platform and service model, with access to Stem’s global resources and expanded software capabilities.

The move aligns with the company’s software-focused strategy introduced in 2024, with software, services, and edge hardware expected to serve as the core revenue drivers, contributing an estimated $130–$150 million based on the company’s full-year 2026 guidance.

A total of 28 solar corporate M&A transactions were recorded in Q1 2026, a 47% increase compared to 19 transactions in Q1 2025, and up 33% compared to 21 solar M&A transactions in Q4 2025, according to Mercom’s recently released Q1 2026 Solar Funding and M&A report.

In April 2026, Mortenson, a provider of energy and infrastructure solutions, announced the acquisition of Nor-Cal Controls, a controls systems provider specializing in energy management control systems for solar, battery energy storage, and microgrid applications.