UK-based renewable energy start-up tem. allows businesses for all sizes to purchase energy directly from renewable generators. Its platform matches renewable buyers and sellers based on their needs, via its AI-driven platform, and it claims its cutting costs by up to 10x compared to using tradition buying and selling methods.
It has raised a £2.5 million Seed funding round, led by AlbionVC and includes Revent as well as angel investor Christian Deger (Payworks founder and CEO).
“Similar to when fintechs overhauled an industry that was crying out for modernisation, tem. has the opportunity to disrupt one of the largest global markets and ensure renewable generation does not fall into the same antiquated energy system as fossil fuel driven transactions. We're excited to be backing tem. and the team who possess a rare combination of skills and experience with the potential to revolutionise the energy markets. We’re excited to support them on the journey as they continue to scale,” says Adam Chirkowski, Investment Director AlbionVC.
tem. is undertaking the mission of unlocking $1 trillion in direct renewable energy transactions globally and saving 390m tonnes of additional CO2 by 2030.
"We're thrilled to have secured this investment from such well-regarded investors, which will allow us to expand our team, accelerate the development of our technology and bring it to even more customers throughout 2023,” said tem.’s founder and CEO Joe McDonald. “With their support, we're looking to make a significant, sustainable impact on the energy markets and build a platform for renewable commodity transactions globally, replacing the outdated energy trading companies and helping our customers to reduce their carbon footprint while saving money on their energy bills."