Our investment in tem.: democratising and accelerating the clean energy transition through AI

As the UK government pushes for clean energy by 2030, there is a need to rapidly accelerate renewable adoption across businesses of all sizes. Skyrocketing oil and gas prices have crystallised the business need to transition away from fossil fuels to more secure, affordable energy sources. 

That’s why we’re excited to introduce you to tem., the AI transactions platform that enables UK businesses to buy energy directly from renewable generators for less than the cost of traditional fossil fuels. tem, is our newest £10.5m Series A partnership, which we’re delighted to announce today. Founders Joe McDonald, Jason Stocks, Bartlomiej Szostek, and Ross Mackay - energy veterans and former Limejump founding employees - built tem. so that any UK business can get affordable energy while powering the clean energy transition from their doorstep.

Renewable capacity in the UK has developed quickly, with 22,000 renewable energy generators sites across the country. But while megacorporations have benefitted by negotiating complex energy contracts directly with these generators, 99% of UK businesses still have no option but to purchase energy from the wholesale market - the same way they did in the 80’s. This means most remain powered by fossil fuels, without meaningful transparency or control over their energy mix, and are forced to swallow the inflated prices that accompany this opaque and inefficient market (£1.65bn is captured each year from this market in transaction fees).

tem.’s breakthrough solution bypasses the wholesale market, democratising access to affordable clean energy. Its proprietary algorithm directly matches businesses with renewable energy generators in real-time, using AI to anticipate and resolve fluctuations within energy supply and demand, processing 1.8 billion matches every second. This innovative approach promises to save businesses up to 25% on their energy bills while providing 100% traceable energy. It also puts money back into the pockets of renewable generators and gives them a fairer price on the energy they sell.

tem. has seen impressive growth to date, and counts among its customers British racing track Silverstone. This funding will go towards hiring and investment into the platform, supporting tem.’s continued growth so that any business - whether a local florist or an energy-intensive data centre - can access the affordable, renewable energy it needs forever.