SAP GOOD ENERGY
MAY 2026 · CONFIDENTIAL
The natural
endurance fuel.
2 SKUs live · 9+ by end of 2027 · 6,509 paying customers · ~£105k April run-rate · 8× growth since December · EBITDA-positive today.
UK only today — USA + EU launching 2027.
Bridge
Short pre-seed to accelerate into fall marathon
100%
to inventory + new SKU launches
£5–7
CAC
blended Meta + Google
~7×
Blended ROAS
incl. repeat · 90 days
84%
Sub reorder rate
90+ day cohorts
51%
Repeat rev share
monthly · prior cohorts
10–14×
LTV : CAC at 12m
cohort-projected
00 · The problem
The modern athlete's dilemma.
Endurance sports are growing rapidly. Athletes turn the products they fuel with into part of their lifestyle. Yet no nutrition brand checks all three boxes — performance, clean, aspirational.
PERFORMANCE
CLEAN
ASPIRATIONAL
SAPall three
✓ Perf✗ Clean✓ Asp
Maurten
Performance + aspirational. But synthetic — engineered carb hydrogel that athletes pinch their nose to drink.
✗ Perf✓ Clean✗ Asp
Honey gels
Clean ingredient. But thick, FODMAP-flagged, no brand love, no community. Niche corner of the shelf.
✓ Perf✓ Clean✓ Asp
SAP
Performance carb ratio · 2-ingredient natural · brand athletes want to be seen with. The only one in the centre.
01 · The product
One ingredient. Endless format.
Most gels have 6–15 ingredients — artificial carbs, gelling agents, preservatives. No wonder the most common response to gels is: "they cause stomach issues" or "they don't sit well."
So we created SAP. Two ingredients: organic Class A maple syrup + Himalayan salt. Nothing else.
Why maple = nature's perfect fuel
2:1 glucose-to-fructose — the closest natural ratio to lab-engineered gels.
Light consistency, easy and fast to digest — quick energy while training or racing.
Lower glycemic index — steady energy curve, no crash.
Mineral-rich: very high in manganese · 54+ polyphenols.
Vs. other "natural" options: honey is too high in free fructose, thick, FODMAP-flagged. Bananas + dates have fibre and digest slowly. Neither works mid-effort.
SAP pairs with everything: coffee, matcha, pastries. The community uses SAP before and after training — not just during. Gels are usage-locked; SAP is a daily habit.
02 · Today's economics
Monthly revenue~£105k · April '26 run-rate
Gross margin~70%
CAC£5–7
Payback< 30 days
Daily ad spend£300/d (4–5× headroom)
Fixed opex£16.4k/mo
Repeat share of revenue51%
UK VAT advantage+20% margin lift
9-SKU pipeline by end of '27 on the same factory line, same 3PL, same supplier. One ingredient story → infinite SKU permutations.
02 · The brand
More than a product. A brand athletes want to be seen with.
Brand people come together around
- · Local community runs and ride-outs every week
- · Sold-out events with 300+ athletes attending
- · SAP tour across UK race weekends
- · Hackney Half '26 — official fuel partner, 25k athletes
Brand people want to share
- · Non-stop Instagram tags from race-day kits
- · Weekly stories from athletes mid-effort
- · "It's cool to have SAP" — owned earned media
- · Strava / WhatsApp group word-of-mouth at scale
With SAP — race day, on the line
Sold-out shakeout runs · 300+ athletes
UK tour · race-week activations
03 · Growth trajectory
8× in 4 months. And climbing.
Sep 25 → Apr 26: 6,509 paying customers · 10,678 paid orders · £28 blended AOV. (Excludes free / influencer / Test Pack.)
* Oct → Dec '25 — sold out. We launched in Sep, sold out within weeks, and held remaining inventory for existing subscribers. Active acquisition was paused. Restocked January; growth resumed: £45k → £56k → £92k → £105k in 4 consecutive months.
04 · Subscription engine
Customers convert. Then they stick.
Sub on 1st order
34%
Feb–Apr cohorts
Subs reorder
84%
90+ day cohorts
Median to 2nd order
30d
all paying customers
From prior cohorts
51%
April monthly revenue
05 · Range
2 SKUs today. 9+ by end of '27.
| SAP25 | Maple gel · 25g carb | Live |
| SAP40 | Double-dose · marathon | Live |
| SAP Coffee | Maple + natural caffeine | Q3 '26 |
| SAP Matcha | Maple + matcha · clean caff | Q3 '26 |
| SAP MIX | Drink mix · cycling unlock | Q3 '26 |
| SAP90 * | 90g resealable · ultra / trail | Q4 '26 * |
| SAP MIX Coffee * | Liquid caffeinated carb | Q2 '27 * |
| SAP Recovery * | Maple + tart cherry | Q3 '27 * |
| SAP Bar * | Maple-krispie endurance bar | Q4 '27 * |
* Post-Q3 SKUs are subject to revision based on summer launch learnings and category response.
06 · Where we go next
Cycling + triathlon are the summer opportunity.
So far we've done an amazing job focusing on the road-running community. With summer approaching and 3 new SKUs launching, SAP is investing into the cycling + triathlon communities — sports where athletes burn 2–3× more nutrition per session, and where SAP MIX is the perfect-fit unlock.
CYCLINGWeekly local ride community · cycling trip · ambassadors · gel + drink mix stack
TRIFull race-day stack (gels + drink mix) · Bolton + Tenby Ironman presence · 5 ambassadors
CONTENTCycling + trail shoots planned · UTMB-window content asset
MERCHCycling bottles · trail kits · race belts — community signal + AOV lift
"SAP is to the natural endurance fuel what Gatorade is to sports drinks."
07 · Team
Built by athletes operating at high performance level.
Conor
Co-founder · CEO
Lives the product and the lifestyle. Previously built tech companies. Operator, creator, thrives at building partnerships.
James
Co-founder · CMO
Content creator + endurance athlete. Following of 383k+; network of running and lifestyle influencers. Helped catapult our organic.
Julien
Non-executive
Co-founder Made.com (0 → £450M, IPO 2021). Board · Decathlon Performance · VanRysel. Non-exec Healf · Welleasy. Daily / weekly ops cadence.
Lukas
Designer
Brand builder. Also behind Raide Research and Unna. Owns visual identity, packaging, art direction.
Viktor
Growth
Agency operator, now full in-house. Leads new-customer acquisition + retention. Owns Meta + Google + creative testing.
Gabi
Advisor
First employee at Satisfy. Runs brand partnerships at The Speed Project. Bridge into endurance-running fashion + culture.
08 · Trajectory
£2M → £60M in 5 years.
UK '26 → US '27 → EU '28 → APAC '29+. Solid bars = committed plan. Dotted = ambition.
Goal: increase AOV (2-case default · bundles · subscription) and grow total addressable market (cycling, triathlon, US, EU). Both levers compound.
09 · Use of funds
100% to inventory + SKU launches.
40%
Inventory depth · fall season cover
30%
Paid scale · £300 → £1,300/day
17%
3 new SKUs · Coffee + Matcha + MIX
13%
Team · creative + CRM hires
EBITDA-positive today. The raise is purely working capital — to fund inventory growth that lets us scale ad spend and ship the new SKUs into peak season.
10 · Voice of customer
We're not building ahead of the customer. We're building with them.
Verified reviews on the left — what people buy. DMs and Strava on the right — what they're asking us for next.
Verified buyer reviews · via Junip
Best on the market!!
I've never got on with standard gels — they're hard to take and full of things I'd rather avoid. SAP was a game-changer on marathon day: natural ingredients, easy to use, sustained energy right to the finish. Didn't hit the wall once. 10/10.
Finally a gel I can stomach
Switched from Maurten after years. Same energy, half the synthetic mess. Tastes like maple syrup. My stomach has never been happier mid-run.
DMs · emails · strava
I've been waiting for SAP Coffee since the day I found you. If it's not out by Berlin I'm rioting.— Marathon runner · Instagram DM
Please tell me you're making a drink mix. On a 5-hour ride I can't shoot gels forever.— Ironman athlete · Customer email
If Maurten had an organic, cleaner cousin, SAP is it.— Sub-3 marathoner · Strava
A short pre-seed to accelerate into fall.
This is a bridge round — built to multiply ad-spend headroom, ship three new SKUs (Coffee · Matcha · MIX) into peak marathon season, and keep inventory deep through Q3/Q4. Full acceleration round + seed raise at end of year — priced on realised peak-season numbers.
This raise40% inventory · 30% paid · 17% new SKUs · 13% team
What's nextSeed raise end of '26 — full acceleration into US '27