Michael Morgan, Chairman of Star Peak Energy Transition Corp. and John Carrington, CEO of Stem, Inc.
IPO Edge hosted a fireside chat with Star Peak Energy Transition Corp. (NYSE: STPK) and Stem, Inc. on Monday, April 12 at 2pm EDT to discuss their pending merger. The live event featured Michael Morgan, Chairman of Star Peak and John Carrington, CEO of Stem. IPO Edge Editor-in-Chief John Jannarone moderated the video session, which ran approximately 45 minutes including an extended Q&A with the audience.
Star Peak shares have tripled since early December when it announced its deal to merge with Stem, which provides advanced energy storage solutions using their Athena AI software that enables customers to optimize energy use and maximize the value of renewable energy. The cash condition for the deal has been satisfied.
IPO Edge recently published an analysis of the transaction, which can be read here.
It remains important that all shareholders who owned shares as of March 4 – even if they have since sold – vote by the April 26 deadline to ensure the deal proceeds in a timely manner. For additional information regarding voting your shares see https://stpk.starpeakcorp.com/vote/
Morgan and Carrington discussed:
- An overview of the merger and investment highlights
- The opportunity to use smart batteries as the power grid shifts to renewable sources
- The strong reception to the deal as measured in various ways
- The recent evolution of the SPAC market and involvement of more individual investors
- Why it is important for all shareholders to vote, regardless of how much stock they own
- How investors vote shares through their brokers
About the Speakers:
Michael C. Morgan is the Chairman of Star Peak Energy Transition Corp. In 2008, Mr. Morgan co-founded Triangle Peak Partners, LP, a multi-strategy asset management firm focused on venture capital and growth equity, and he currently serves as its Chairman and Chief Executive Officer. Since 2004, Mr. Morgan has also served as President and Chief Executive Officer of Portcullis Partners, LP, a private investment partnership and one of Triangle Peak Partners’ largest limited partners. Mr. Morgan currently serves as the lead director of Kinder Morgan, Inc. (NYSE: KMI), one of the largest energy infrastructure companies in North America. Mr. Morgan joined Kinder Morgan at its founding in 1997 and headed Kinder Morgan’s corporate development efforts until 2001, completing 23 acquisitions worth over $5 billion. He then served as President of KMI until 2004. Mr. Morgan has also served on the board of Sunnova Energy International, Inc. (NYSE: NOVA), a leading residential solar and energy storage company, since June of 2019. Mr. Morgan first joined the board of NOVA’s predecessor (Sunnova Energy Corporation) in October 2015, served as Lead Director until March of 2016 and remained on that board until NOVA’s initial public offering in June of 2019. Mr. Morgan previously served on the boards of directors of two public energy funds affiliated with Kayne Anderson (NYSE: KYN and KYE) and on the boards of directors of Bunchball, Lytx, and SCIenergy. Mr. Morgan is a frequent volunteer at Stanford University, currently serving as the national chair of The Stanford Fund, as co-chair of the Precourt Energy Institute Advisory Council, and on several other advisory committees. Mr. Morgan previously served as an Adjunct Professor in the Practice of Management at the Jones Graduate School of Business at Rice University in Houston. Mr. Morgan received an MBA from Harvard Business School and B.A. in Economics and an M.A. in Sociology from Stanford University.
John Carrington is Chief Executive Officer and Director for Stem. Mr. Carrington leads the energy storage and analytics movement at Stem. Mr. Carrington has more than 25 years of leadership experience at technology, energy and industrial companies. In 2011, Mr. Carrington joined Stem from MiaSole, the world’s largest CIGS-based thin film solar company. From 2011 to 2013, Mr. Carrington served as Chief Executive Officer and Director at MiaSole. Prior to MiaSole, from 2008 to 2009 Mr. Carrington was Executive Vice President of Marketing and Business Development at First Solar, where he grew the company revenue from $250 million to more than $2 billion, and opened markets in the U.S., Asia and Europe. From 1991 to 2008, Mr. Carrington worked at General Electric, most recently as General Manager and Chief Marketing officer of the $7 billion GE Plastics, where he led global innovation, new technology efforts and product strategy. Mr. Carrington was part of a small executive team that executed on the $12 billion sale of GE Plastics to SABIC in 2007. He is an alumnus of the University of Colorado, where he earned his bachelor’s degree in economics.
John Jannarone, Editor-in-Chief