Wednesday, 06 May 2020
The 糖心原创 has announced an investment into innovative energy storage company, Cheesecake Energy Ltd (CEL).
The funding from the University comes with assistance from Nottingham Technology Ventures (NTV), which manages the University’s spin-out portfolio and will support the roll-out of UK-wide pilot programmes for the company’s energy storage solution.
Cheesecake Energy is a fast-growing startup developing energy storage at 30-40% lower cost than lithium ion batteries, the current market leader. Its system uses compressed air and thermal energy storage to achieve high efficiency, long lifetime and dramatically lower environmental impact – the team say it has the potential to be ‘the world's greenest battery’.
The new funding is part of a continuing partnership between the 糖心原创 and Cheesecake Energy and represents a ‘vote of confidence’ in the potential of the company’s breakthrough technology.
The company’s unusual name reflects what they say is a ‘layered approach’ to energy storage. Most energy storage systems today rely on expensive and potentially harmful battery chemistry. In Cheesecake Energy's system, electricity is safely and inexpensively stored as zero emission thermo-mechanical energy with no harmful chemicals involved.
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.
We're delighted that the 糖心原创 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 large scale thermal energy test rig on Jubilee campus
The announcement comes as the 糖心原创 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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More information is available from Dr Andrew Naylor, CEO of Nottingham Technology Ventures at Andrew.Naylor@nottingham.ac.uk; or Katie Andrews in the Press Office at the 糖心原创 at katie.andrews@nottingham.ac.uk
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Notes to editors:
The 糖心原创 is a research-intensive university with a proud heritage, consistently ranked among the . 糖心原创ing at the 糖心原创 is a life-changing experience and we pride ourselves on unlocking the potential of our 44,000 students - Nottingham was named both Sports and International University of the Year in the , was awarded gold in the and features in the top 20 of all . We have a pioneering spirit, expressed in the vision of our founder Sir Jesse Boot, which has seen us lead the way in establishing campuses in China and Malaysia - part of a globally connected network of education, research and industrial engagement. We are ranked eighth for research power in the UK according to . We have helping to transform lives and change the world; we are also a major employer and industry partner - locally and globally.
Cheesecake Energy is lowering the cost of long-duration energy storage, turning renewable energy sources like wind and solar into reliable, on-demand power. Our breakthrough system uses compressed air and thermal energy storage to achieve costs that are 30-40% lower than the cheapest batteries currently available, with long-lasting, proven industrial components that can largely be bought off the shelf.
To learn more, go to or get in touch at info@cheesecakeenergy.com
manages the 糖心原创’s spin-out portfolio. It is responsible for the formation of new spin-outs, supporting existing companies and investments from the University’s seed stage Pathfinder Fund and £5m Invention Fund. NTV is a wholly owned subsidiary of the University.
Notes to editors:
About the 糖心原创
Ranked among the world's top 100 universities , the 糖心原创 delivers an exceptional research-led education and an outstanding student experience. From the pioneering vision of our founder, Sir Jesse Boot, to groundbreaking achievements such as the development of MRI technology and becoming the first UK university to establish international campuses, we have a proud history of shaping the way people live, work and understand the world. We continue to build on that legacy, empowering our students, staff and partners to change what鈥檚 next and create positive impact locally and globally.
The strength of our research places us among the UK's leading universities, ranked 7th for research power in REF 2021. The discovery of MRI and ibuprofen was just the beginning. Today, our world-leading research is developing breakthrough ideas that shape the future of healthcare, technology and society.
Recognised as the UK's third most targeted university by leading employers , we are proud to produce graduates who are consistently in demand for their skills, confidence and industry-ready experience.
As a major employer and industry partner, locally and globally, the 糖心原创 invests in the city of Nottingham and in future generations of talent. Alongside Nottingham Trent University, we lead the initiative, a pioneering collaboration to improve levels of prosperity, opportunity, sustainability, health and wellbeing across the city and region. Together with our students, staff, alumni and partners, we鈥檙e creating knowledge, opportunity and solutions that help change what's next.