The Path to Abundant Green Energy: Why We Invested in tem. Energy
At Revent, we are driven by a relentless pursuit of understanding and addressing the challenges faced by humankind. Among the crucial issues we identified early on in the pursuit of global decarbonization is the urgent requirement for cheap and clean electricity on a massive scale. This will not only be essential for the widespread electrification of our economy, but also enables the growth of new industries like carbon capture, water desalination, and protein production. So, we set out on an intensive search for a company capable of significantly scaling renewable energy production and storage.
We quickly came across one of the major limiting factors within the energy industry: the reliance on legacy utilities and outdated methods of energy transactions. Today’s energy market is evolving quickly, with a shift towards smaller independent power producers (IPPs) who are making substantial investments in decentralized renewable energy production and storage. This is reshaping the market design, and leading to higher demand and supply volatility. Yet even with the growth of IPPs, the energy market does not yet do a good job of serving most customers. With layers of brokers and intermediaries separating supply and demand, the sale and procurement of renewable energy still entails too much friction and unnecessary cost.
With these changing dynamics, it was clear to us that there’s an opportunity to build a modern, efficient platform capable of digitizing and automating the energy market and bringing supply and demand fundamentally closer together.
Introducing tem. Energy
Today, we are thrilled to announce the culmination of our search as we proudly introduce our newest addition to the Revent portfolio: tem. energy. Tem is an AI-driven energy platform that connects renewable energy producers directly with buyers, eliminating intermediaries and improving profit margins for producers, all while providing reliable, cheap and truly clean energy to energy buyers.
The vision behind Tem may appear simple, but the reality is far from it. Energy markets have long been known for their complexities, and constructing and operating a platform that seamlessly matches the fluctuating supply and demand levels is no small feat.
But upon meeting the Tem team, we immediately recognized that we came across something extraordinary. At Revent we look for founders who bring a deep industry understanding and a clear vision of how this industry can be changed drastically to the better. The Tem founders embody both of these qualities, having gained extensive experience in the energy sector, including their time at Limejump (acquired by Shell in 2019). Moreover, they possess a distinctive vision of what the energy market should resemble in this era of automation and AI. Impressively, they have swiftly translated their vision into action and have already facilitated energy transactions worth millions of pounds on their platform.
Tem’s AI platform will revolutionize the energy industry by making it more efficient, sustainable, and accessible to all and we are beyond excited to co-lead Tem’s 2.5 million GBP seed round alongside our friends at Albion. We are looking forward to the journey with Joe, Jason, Ross, Bartlomiej and the entire Tem team towards a future powered by renewable energy, ensuring a cleaner and more sustainable planet for generations to come.
