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Tempus Energy

Early Stage Startup





Tagline

The future's low carbon

Video



Elevator Pitch

Tempus Energy is a mission based company committed to helping resolve climate change with a market-based approach. Renewable generation creates challenges for grid operators because renewables only generate power when the sun shines or the wind blows. Electricity customers of all sizes can help smooth out the peaks and troughs created by renewables by being flexible with their electricity load such as air conditioning chillers, refrigeration and other interruptible load but so far in most markets around the world they haven’t been given the value needed to motivate them to invest in their flexibility. Electricity retailers are not always incentivized to create flexible customers which means we are not creating flexibility as fast as we are building renewable power. This needs to change quickly and Tempus is playing a role in making this happen.
We are a tech company that uses artificial intelligence techniques to price predict the closing electricity market price before market closure in order to provide a price signal to electricity customers to increase or decrease consumption. We have developed a technology platform that connects customers flexible assets through to electricity retailers trading functions in order to enable retailers to use customers’ flexibility to avoid electricity wholesale market high price events and take advantage of low or negative price events. We are the only company in the world taking this approach.

Product

Flexibility Markets: we are establishing flexibility markets using our technology platform to connect customers’ flexible assets to retailers’ energy trading teams. The flexibility markets, operated by Tempus, are a mechanism to share this benefit between retailers and customers without needing to alter the terms of existing electricity contracts enabling customer to reduce their energy cost while supporting renewable generation.


Why we are ecofriendly

The internet has created an explosion in both the availability and price of communications, sensor and control technology. Deploying this technology at electricity customer premises enables them to become flexible with the time at which they use electricity by connecting and controlling various demand assets like air-conditioning chillers, freezer and refrigeration assets, pumping equipment and interruptible industrial processes. Battery storage installed at customer premises will in the future add to this range of flexible load. These assets can then be used to pre-cool buildings before price spikes or run pumping equipment before price spikes so that over supply of renewable generation which is cheap is used by electricity customers and expensive, higher carbon intensive electricity is only used when necessary.

Tempus will provide price signals to enable customers to determine when to shift flexible, real-time consumption described above and battery storage. All flexibility actions will be recorded securely on a blockchain and payments will be settled through the blockchain by interfacing with a payments provider and bank. The flexibility market will bring together customers, electricity suppliers and network companies to join forces in delivering a cost effective, low carbon energy system.


Latest News

In March 2015, Tempus became the UK’s first flexible electricity supplier to utilise its customers demand flexibility as part of its core business model. Run like a working lab, this enabled Tempus to refine the technology platform with real customer input. Customers included established organisations like Hertz and Tesla.
In August 20017 Tempus is launching a flexibility market in South Australia that will provide electricity customers with a route to extracting value from the electricity market for this demand flexibility whether they transact directly with the wholesale market or through an electricity supplier. Further European based markets will follow in 2018 and 2019.


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Version History

2017-04-18 00:10:26 - changed employees to 'Tempus currently has a headcount of 8 employees. '

2017-04-18 00:09:46 - changed productpitch to 'Flexibility Markets: we are establishing flexibility markets using our technology platform to connect customers’...'

2017-04-18 00:09:03 - changed fundraising to 'So far Tempus have been funded through a mix of seed funding, innovation grants and private investors. '

2017-04-18 00:08:26 - changed capitalraised to 'Tempus Energy raised £4.8m in 2015 via two rounds; a small crowdfunding round and a larger high net worth investor...'

2017-04-18 00:07:06 - changed employees to 'Tempus current headcount is 8 employees. '


Tempus Energy is ECO17 Award Nominee.




Website



Fundraising

So far Tempus have been funded through a mix of seed funding, innovation grants and private investors.

Capital Raised

Tempus Energy raised £4.8m in 2015 via two rounds; a small crowdfunding round and a larger high net worth investor round.

Grants Raised

Innovation grants: The Technology Strategy Board’s Smart Grant and Innovate UK Energy Catalyst

Employees

Tempus currently has a headcount of 8 employees.

Investors

Private investors

Customers

All electricity customers with flexible load; domestic, SMEs and I&C (industrial and commercials)




Awards

Ashden Smart Energy Award 2016

Request for Mentors

Yes

Country of Origin

UK, London

Founded

2012

Twitter

@tempusenergy

Facebook


Team

Sara Bell - CEO and Founder



Contact Person

Vidia Pallaram
vidia.pallaram@tempusenergy.com

Headquarter

London

Tags

Electric, flexibile, off-peak, renewables, low-carbon, automated, cutting edge property technology, easy and fair for customers