Imagine cutting your electricity bill by almost a third while simultaneously supporting renewable energy. A London-based startup called Tem is making this vision a reality through innovative artificial intelligence technology.

The company has developed a groundbreaking energy transaction engine that uses machine learning algorithms to dramatically reduce electricity costs for businesses. By connecting electricity generators directly with consumers, Tem eliminates multiple intermediary layers that traditionally inflate energy prices.

Currently operating primarily in the United Kingdom, Tem has already signed up over 2,600 business customers, including major brands like Boohoo Group and Newcastle United FC. Their approach focuses on decentralized and distributed energy markets, which work exceptionally well with their advanced AI algorithms.

The startup recently secured $75 million in Series B funding, valuing the company at more than $300 million. This investment will fuel their expansion into new markets, including Australia and the United States, starting with Texas.

Tem’s innovative platform, called Rosso, uses sophisticated machine learning and large language models to predict energy supply and demand with remarkable accuracy. By replacing traditional human-driven trading systems with AI, the company aims to bring electricity prices much closer to wholesale costs.

CEO Joe McDonald envisions Tem as an infrastructure play similar to pioneering tech platforms like AWS or Stripe. Their long-term goal isn’t just to be another utility company, but to create a transformative technology that can reshape how energy transactions occur globally.

As data centers and AI technologies continue to drive up electricity consumption, solutions like Tem’s could be crucial in making energy markets more efficient, transparent, and affordable for businesses and consumers alike.

With renewable energy generation at its core and cutting-edge AI technology powering its platform, Tem represents an exciting glimpse into the future of sustainable energy markets.