A Chat with Joe McDonald, Co-Founder at Renewable Energy Company: tem. Energy

If you could describe your journey in one line, what would it be?

 

My journey can be summed up as “A relentless pursuit of disrupting an outdated system to create a cleaner, fairer future for everyone.”

 

 

Tell us about yourself.

 

After failing to grind out a law career, I’ve spent my time trying to sit at the cutting edge of the intersection of energy and technology.

I used to not know how a light bulb comes on when you flick the switch, but I have become obsessed about the opportunity to innovate in an industry that has been relatively unchanged for the last 110 years.

Before tem., I played key roles in scaling energy tech startups, including Limejump, which was acquired by Shell. My experience spans over a decade in energy markets, software development, and FinTech, uniquely positioning me to have the privilege of leading tem. in revolutionising how renewable energy is traded globally.

 

 

How did you overcome adversity in your entrepreneurial journey?

 

I recognise that compared to many, I have not had to overcome significant adversity in my entrepreneurial journey to date. This motivates me to take my privileges and make the biggest positive impact on the world possible.

Energy as a market to launch a start-up, however, has proven to be a rocky difficult road. Even a few years ago, most Venture Capital refused to fund a business in the energy markets as it was considered too “high risk” or too “incumbent driven”, but we have had a strong vision from day one.

Any time I am hit with failure in the short term I go back to a first principle belief in the reasoning that this market has to change. Our mission is too important to be affected by those blind to the potential future that could be unlocked if we solve the problem of electricity transactions!

 

What is the best lesson you’ve learnt as an entrepreneur?

 

Don’t be greedy. If the mission truly matters, you have to leave your ego and selfish interests at the door. Ironically, the more I have shared, whether that’s with those investing or those building the company, the more the business seems to compound its success.

 

Tell us about the company you have built.

 

tem. is a platform that democratises access to renewable energy by allowing businesses of all sizes to bypass inefficient traditional utilities operating around the wholesale market and purchase energy directly from renewable generators. Businesses pay less for true, traceable renewable energy, while Renewable Generators get meaningfully better returns for the power they sell. We’re addressing a significant gap in the market, aiming to unlock $1 trillion in direct renewable energy transactions globally by 2030.

 

What advice would you give to other entrepreneurs?

 

My advice is simple: Stay true to your mission, build a team that shares your passion, and never underestimate the power of resilience. You can work harder and smarter than anyone else, but if you can’t take, or even better, embrace, the pain of failure, I think it’s hard to build something truly game-changing.