tem. has raised a £2.5m in seed funding, led by Albion Capital, to address one of the most pressing needs of energy generators and buyers today – automatically matching supply with demand. The funds raised will be spent on expanding the team, developing the product and re-opening the currently oversubscribed platform to more customers in 2023.
tem.’s AI-driven platform identifies the best possible matches between businesses and renewable energy generators and directly manages the end-to-end transaction between all parties.
This allows businesses, for the first time, to bypass inefficient utilities and purchase energy based on their unique needs, thus democratising greater access to true, traceable, renewable energy, while cutting transaction costs by up to 10x.
tem.’s founder and CEO Joe McDonald commented: “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impact on the energy markets and build a platform for renewable commodity transactions globally, replacing the outdated energy trading companies and helping our customers to reduce their carbon footprint while saving money on their energy bills.”