Innovative UK energy supplier Tempus Energy has closed a £3.78m funding round, bringing
the firm’s total funding in 2015 to just short of £5m.
London-based Tempus Energy has developed a management and trading technology platform which hooks homes and businesses up to the cheapest available electricity at any given time.
Called ‘demand flexibility’, this brings cost savings to customers by automatically shifting non time-critical load to off-peak times or periods when renewable generation is plentiful.
Sara Bell, CEO and founder of Tempus Energy said: “Using our innovative supply model to unlock better value from UK energy is good for customers and UK [companies].”
She went on to say the company works hard to deliver value to its customers through innovation.
“I am motivated by the fact that every time we lower our customers’ energy bills, we are empowering other British businesses to be more competitive in their own markets,” Bell added.
The company estimates demand flexibility and balancing technologies could save those in the UK an estimated £8-17bn per annum by 2050 and up to €53bn per annum in Europe.