tem. raises £2.5m in Seed funding led by AlbionVC to expand its renewable energy transaction platform.
AlbionVC leads a Seed round for tem. to support team expansion and product development.
tem. provides a platform that connects businesses directly with renewable energy generators. The company bypasses traditional energy markets to offer lower costs and transparent pricing.
tem. has secured a £2.5m Seed funding round led by AlbionVC, with participation from Revent and angel investor Christian Deger. The company will use the capital to grow its team, enhance its product offering, and open its platform to additional customers.
Launched in October 2022, the platform matches energy buyers with renewable generators to reduce intermediary costs. The business has already facilitated over £10m in energy transactions across the UK market since its MVP launch.
From the founder
"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,"
Joe McDonald
founder and CEO at tem.
Investor perspective
"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."
Adam Chirkowski
Investment Director, AlbionVC
Use of funds
- 01Grow the team
- 02Continue product development
