Cheesecake Energy awarded £9.4m in government funding to install energy storage systems

NOTTINGHAM, U.K. - April 12, 2023 - PRLog -- Cheesecake Energy Ltd (CEL), a developer of sustainable thermal and compressed air energy storage, has been awarded £9.4m funded through the Net Zero Innovation Portfolio (NZIP) by the UK Government's Department of Energy Security and Net Zero to install a set of pilot energy storage systems in Colchester. The funding was awarded by the government's Longer Duration Energy Storage competition, part of its commitment to investing in clean energy technology and reducing the country's carbon footprint.

With the funding, CEL plans to install energy storage systems in a new mixed-use development in Colchester, which is being set up as a microgrid to manage the grid constraints in the local area. The site will have a solar farm of up to 8MW and a central heat pump that supplies a district heating network for nearby residents and businesses. The energy storage systems will store excess energy generated by solar power, which can then be used when demand is high, reducing reliance on fossil fuels and the grid, and lowering carbon emissions.

"Energy storage is a critical component of the energy transition. We are delighted to receive this support from the UK government, which will enable us to accelerate our mission of delivering our green energy storage technology around the world." said Paul Harris, CEO of CEL.

Minister for Energy Security and Net Zero Graham Stuart said: "Storing energy for longer periods is vital to build a robust and secure energy system and ensure that renewable energy is used efficiently. Fortunately, the UK has a wealth of pioneering businesses that are making their mark on this industry."

CEL's energy storage systems are made from readily available materials produced by supply chains that already exist in the UK and internationally. They are flexible, scalable, and easy to install, making them accessible to a wide range of customers. The systems can be configured to deliver the specific combination of power and storage duration that best meets customers' needs, providing reliable and affordable energy storage.

About CEL

Cheesecake Energy Ltd (CEL) is developing the world's most sustainable energy storage technology for integrating renewable generation, microgrids and electric vehicle charging. Their breakthrough system uses industrial hardware in a proprietary configuration to deliver an energy storage technology offering greater resilience and lower cost than lithium-ion batteries.

About the Department for Energy Security and Net Zero

The Department for Energy Security and Net Zero will provide dedicated leadership focused on delivering security of energy supply, ensuring properly functioning markets, greater energy efficiency and seizing the opportunities of net zero to lead the world in new green industries. The Department is focused on the energy portfolio from the former Department for Business, Energy and Industrial Strategy (BEIS).

https://cheesecakeenergy.com/