UK startup tem. raises £2.5 million for renewable energy trading platform

UK energy startup tem raised £2.5 million in a seed round led by AlbionVC to scale an AI-driven platform matching renewable energy supply with demand for direct, traceable transactions. The peer-to-peer renewable trading model points to market structures Indian corporate renewable buyers may eventually access.

UK startup tem. raised £2.5 million in a seed funding round led by AlbionVC, with participation from Revent and fintech angel Christian Deger. The company operates an AI-driven platform automatically matching renewable energy supply with demand, enabling direct, traceable transactions that bypass traditional energy markets and reduce transaction costs. Launched only in October 2022, tem. has already facilitated over £10 million in energy transactions in the UK. Its founders previously worked at Limejump, an energy tech startup acquired by Shell in 2019.

Businesses of all sizes seeking cheaper, greener and traceable renewable energy, and energy producers seeking higher transparent revenue, are the targeted users. The platform democratises access by letting organisations purchase renewable energy matched to specific needs, bypassing traditional energy companies that have favoured incumbents. tem. aims to facilitate $1 trillion in direct renewable energy transactions globally by 2030, potentially avoiding 390 million tonnes of additional CO2 through faster renewable adoption. Funds will expand the team, enhance the product and widen platform access in 2023.

Indian corporate renewable-energy buyers, open-access power consumers and energy-tech entrepreneurs should monitor the maturation of peer-to-peer, traceable renewable trading models and how AI-driven supply-demand matching could lower procurement costs. Entities should watch whether such direct-transaction platforms expand beyond the UK and how they reconcile with India's open-access and power-exchange regulations. Firms pursuing traceable renewable sourcing for Scope 2 reduction should track the verification and traceability standards underpinning these credits.

Key figure — Seed funding raised: £2.5 million led by AlbionVC