Cheesecake Energy secures University of Nottingham investment

Nottingham, Nottinghamshire, UK -- Cheesecake Energy Limited (CEL) today announced it has received investment from the University of Nottingham to support UK-wide pilot programmes for the company's energy storage solution.

The new funding is part of a continuing partnership between the University of Nottingham and Cheesecake Energy and represents a ‘vote of confidence’ in the potential of the company’s breakthrough technology.

Cheesecake Energy Limited is a fast-growing startup developing energy storage at 30-40% lower cost than the current market leader, lithium-ion batteries. Its system uses compressed air and thermal energy storage to achieve high efficiency, long lifetime and dramatically lower environmental impact.

Founded in 2016, the company has already established itself within the Nottingham, and wider East Midlands energy ecosystem — having secured initial interest from local councils and bus services for pilot programmes. The company is currently designing a 150 kW / 750 kWh prototype system for completion in Q4 2020 which will be deployed with a local bus depot for charging of electric buses using renewable energy.

Commenting on the investment, Cheesecake Energy’s CEO Mike Simpson said: “We're delighted that the University of Nottingham shares our belief in the potential of the CEL technology and is continuing to show climate leadership by investing to help us deliver affordable and sustainable energy storage.”

The announcement comes as the University of Nottingham furthers its commitment to environmental sustainability. Dr Andrew Naylor, CEO of Nottingham Technology Ventures, commented: "We're excited by the potential of Cheesecake Energy's technology to reduce the cost of energy storage as the world moves towards cleaner methods of energy production." He continued "We are pleased to be working with Cheesecake Energy Limited on the next phase of their journey and to support the development of intellectual property originating in the University."

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CEL wins grant and accelerator support

We're delighted to announce we have been awarded business support and funding as part of the fourth wave of the Advanced Propulsion Centre (APC) UK's Technology Developer Accelerator Programme (TDAP)

TDAP Manager from the Advanced Propulsion Centre, Josh Denne said: “We are delighted to be working with Cheesecake Energy as part of our Technology Developer Accelerator Programme (TDAP). At the APC we are committed to working with micro, small and medium organisations developing innovative low-carbon technologies. Companies such as Cheesecake Energy play a crucial role in the automotive industry’s net zero carbon future. By supporting them at the beginning of their journey we hope to ensure their innovative technology becomes commercially viable.”

About the Advanced Propulsion Centre: The Advanced Propulsion Centre (APC) accelerates the industrialisation of technologies which will help to realise net-zero emission vehicles. It is at the heart of the UK government’s commitment to end the country’s contribution to global warming by 2050.

Since its foundation in 2013, APC has funded over 110 low-carbon projects, involving more than 290 partners. The technologies developed in these projects are projected to save over 179 million tonnes of CO2, the equivalent of removing the lifetime emissions from 6.5 million cars.

APC projects have helped generate economic benefits too. Companies involved have seen turnover increases of 14–17%, with new jobs increasing by 8–10%. Together these have generated a 17% Gross Value Added uplift.

With its deep sector expertise and cutting-edge knowledge of new propulsion technologies, APC’s role in building and advising project consortia helps projects start more quickly and deliver more value. In the longer term, its work to drive innovation and encourage collaboration is building the foundations for a successful UK industry. For more information go to apcuk.co.uk or follow us @theapcuk on Twitter and Advanced Propulsion Centre UK on LinkedIn.

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Invest in Cheesecake Energy

Looking forward to sharing our vision! The team at Greenbackers are getting us geared up for an excellent pitch event on the 7th May - find out more here.

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