tem. secures further £10.5m to accelerate its mission to reshape the UK’s energy landscape

Following a £2.5m seed funding raise in 2023 led by Albion, huge congratulations to tem. for securing an additional £10.5m in Series A, led by Atomico, with participation from existing investors including us. The fundraise was also joined by notable angels including Holly and Sam Branson, bringing tem.’s total funding to £13m and positions the company at the forefront of the UK’s urgent transition to sustainable energy.

tem.’s growth comes as the global economy scrambles to meet 2050 climate targets. Its AI engine is revolutionising the energy market by directly matching businesses with renewable energy generators in real-time and saves businesses up to 25% on their energy bills while providing 100% traceable, renewable energy.

Joe McDonald, tem. CEO and co-founder, said:

“Small and medium-sized businesses are critical in tackling climate change, and are desperate for energy they can trust after seeing their bills soar by 124% during the recent energy crisis.  We built tem. so that any UK business can get affordable energy while powering the clean energy transition from their doorstep”

The investment comes as the UK rapidly expands its renewable energy capacity, with renewables in 2023 constituting around 40% of the electricity mix, up from approximately 11% in 2014. In Q1 2024, renewables reached 50.9% of total generation.

tem.’s platform is uniquely primed for this growth, connecting businesses directly with the burgeoning network of over 22,000 small, medium, and large UK renewable generators, from large-scale wind farms to family-owned solar parks and local weirs generating hydropower.