Cheesecake Energy: Raises £1M in Seed Funding

Cheesecake Energy Raises £1M in Seed Funding

• Cheesecake Energy, a London, UK-based energy storage startup, raised £1m in seed funding
• The Imperial College Innovation Fund (£300k) led the round with participation from Perivoli Innovations, and prominent business angels
• The company intends to use the funds for the development of its manufacturing capabilities and its lead eTanker storage system
• CheesecakeEnergy is developing green energy storage technology – known as eTanker – that stores electricity in the form of compressed air and heat
• eTanker is deployed in a modular, containerised package, making it suitable for a range of terrains and applications in industry including local renewable microgrids
• The company is progressing its first pilot system with Nottinghamshire County Council, helping the Council to achieve some of the goals laid out in its carbon management plan