tem., an AI platform facilitating direct renewable energy purchases for UK businesses, has secured £10.5 million in Series A funding to enhance its operations amid rising energy costs and increasing demand for sustainable solutions.

Information on the Target

tem. is an innovative AI-driven platform designed to facilitate the direct purchase of renewable energy by UK businesses at costs lower than traditional fossil fuels. With its recent completion of a £10.5 million Series A funding round, led by prominent European venture capital firm Atomico and supported by returning investors AlbionVC and Revent, tem. has now secured a total funding of £13 million. This financing positions tem. at a pivotal moment in the UK energy market as the demand for sustainable energy sources intensifies.

The company operates an advanced proprietary algorithm that matches businesses with renewable energy generators in real-time, enabling significant savings on energy costs. In a landscape plagued by rising oil and gas prices, tem. is poised to reshape how businesses access energy, providing them with a sustainable and cost-effective alternative.

Industry Overview in the UK

The renewable energy sector in the UK has experienced substantial growth, with renewables accounting for approximately 40% of the electricity generation mix in 2023. This marks a significant increase from just 11% in 2014 and a mere 2.8% at the b