Southbank Capital

Revolutionising Renewable Energy: tem.’s £2.5M Seed Funding Triumph

By Luke C for Southbank Capital Jun 13, 2023

On the global stage of clean energy, a new actor, tem., has made its presence felt with a successful £2.5M seed funding round. This recent development, reported by finsmes.com on 12th June 2023, marks an exciting time in the renewable energy sector – a field that we, at Southbank Capital, follow closely due to its growing influence on market trends.

AlbionVC led the funding round, along with notable contributions from Revent and Christian Deger, a distinguished fintech angel who also is the founder and CEO of Payworks. The capital raised will empower tem. to extend its team, refine its product, and broaden its customer base in the coming year.

Under the adept leadership of CEO Joe McDonald, tem. is breaking new ground. It allows businesses, regardless of their size, to directly purchase energy from renewable generators. This revolutionary approach leverages an AI-driven platform that not only identifies the best matches between businesses and renewable energy generators but also navigates the end-to-end transaction without the need for traditional market intervention.

Since its inception in October 2022, tem. has successfully executed more than £10m worth of energy transactions solely in the UK. Ambitiously eyeing the future, the company is set to scale up to 100 GW of contracted annualised renewables.

At Southbank Capital, we find it particularly engaging to follow such remarkable progress in sectors that intersect our areas of interest. tem.’s achievement paints a vivid picture of how innovative ideas, backed by robust financial planning, can shape a sustainable future.

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