# Cheesecake Energy

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/cheesecake-energy

- Industry: Renewable Energy
- Headquarters: Nottingham, UK
- Website: www.cheesecakeenergy.com
- Total disclosed funding: $1.3M
- Latest round: Seed (Sep 17, 2021)
- Investors on record: 2

## About

Founded in 2016 in the UK, Cheesecake Energy Ltd specializes in sustainable energy storage solutions, focusing on innovative technologies that enhance energy efficiency and reduce costs for diverse industries.Cheesecake Energy Ltd is dedicated to developing energy storage solutions, prominently featuring the eTanker system. The company was established in Nottingham, UK, and has pivoted towards sustainable energy technologies. Its founders, Bruno Cardenas, James Garvey, and Paul Macdonald, have a history in energy innovation. As of April 12, 2023, Cheesecake Energy raised GBP 9.4 million in GRANT funding from the Department for Energy Security & Net Zero, bringing the total amount raised to GBP 3.5 million over 7 deals.Cheesecake Energy Ltd specializes in sustainable energy storage solutions, primarily through its flagship product, the eTanker system. This innovative technology combines thermal energy storage and compressed air to provide medium to long-duration energy storage that is both cost-effective and environmentally friendly. The eTanker system significantly reduces energy storage costs by repurposing industrial components from established automotive and oil and gas supply chains, achieving operational costs that are 30-40% lower than traditional battery systems. The end-use cases for eTanker encompass a variety of sectors including electric vehicle (EV) charging infrastructure, microgrids, and heavy industry, facilitating the integration of renewable energy sources such as wind and solar into reliable power systems. Cheesecake Energy serves a diverse client base that includes utilities, industrial companies, and electric fleet operators across multiple geographical markets, including but not limited to the UK, Europe, and other regions looking to enhance their energy storage capabilities.The revenue model for Cheesecake Energy is primarily structured around B2B transactions, focusing on partnerships with industrial clients and energy service providers. The company generates revenue through the sale and installation of its eTanker systems, with potential recurring revenues from maintenance and services post-installation. Clients typically engage in contractual agreements where they purchase the eTanker systems, which may include additional components and services to optimize energy storage and management. Additionally, Cheesecake Energy may explore subscription models for ongoing support and upgrades, particularly in the context of maximizing system efficiency and integrating with evolving energy market demands. The pricing structure for these products and services is tailored to meet the specific needs of clients based on their operational requirements, ensuring a sustainable and economically viable solution for energy storage.In April 2023, Cheesecake Energy Ltd raised GBP 9.4 million in GRANT funding, which will be utilized to install energy storage systems in a new mixed-use development in Colchester, designed as a microgrid to manage local grid constraints. The company also plans to establish a global partner network to manufacture, deploy, and service its systems, targeting expansion into new markets across Europe and beyond.

## Funding rounds

- Seed, Sep 17, 2021, $1.3M — Perivoli Innovations, Imperial College London

## Investors

- Perivoli Innovations (https://capitalatlas.ai/funds/perivoli-innovations) — Seed
- Imperial College London — Seed