Cheesecake Energy Ltd (CEL), a Nottingham-based energy storage startup, has raised £3.5 million in pre-series A funding.
The round was led by BGF with support from Perivoli Innovations and private investors including former Jaguar chair, Sir John Egan.
The funds will be used to grow the CEL team, begin pilot deployments of the company’s technology, and build partnerships with potential manufacturing and distribution partners around the world.
The company’s unique eTanker technology stores electricity in the form of heat and compressed air. To store the energy, electric motors are used to drive compressors, which deliver high pressure air & heat into storage units. When the electricity is required, the high-pressure air and heat is passed back through the same compressor, now working as an expander, which turns a generator to produce electricity.
With its simple raw materials and…
Nottingham energy storage startup raises £3.5m
