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 Q2 2021 which will be deployed with a local council depot for charging of electric vehicles 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.”
Cheesecake Energy Ltd is registered in England and Wales. Company number 10317962.
Registered address: Ingenuity Centre, Triumph Road, Nottingham, Nottinghamshire, NG7 2TU