Tem disrupts energy buying for businesses with direct access to renewables

Tem, a London-based startup, aims to revolutionize the energy sector by connecting businesses directly to renewable energy sources, bypassing traditional utility companies. Founded by a team with extensive experience in the energy industry, Tem has developed a platform that allows businesses to select their renewable energy preferences and manage their contracts efficiently. Currently, the company serves around 200 customers, including notable clients like Silverstone, and collaborates with over 50 renewable energy generators. The startup's approach addresses the challenges faced by smaller businesses that struggle to engage in long-term power purchase agreements due to their complexity and costs. By leveraging technology, Tem simplifies the process, making renewable energy more accessible to a broader range of companies. This model not only helps businesses reduce their energy costs but also supports their efforts to meet climate targets amid rising fossil fuel prices. Tem has opted to partner with an existing utility provider rather than applying for its own supply license, allowing it to focus on its core mission of disrupting the energy market. This strategy is designed to mitigate risks associated with traditional utility models, which often expose new suppliers to market volatility and high transaction costs. With backing from investors like Atomico and plans to expand into European markets with ambitious renewable energy goals, Tem is positioned to play a significant role in the transition to a more sustainable energy landscape, ultimately contributing to global climate neutrality efforts by 2050.