Palmer Energy Technology Acquires Brill Power And Secures £5M Funding

The acquisition is supported by a £5 million Series A funding round, co-led by FirstGroup plc, Barclays Bank, and the University of Oxford.

This acquisition brings together two leading UK battery technology companies, PETL and Brill Power to create a stronger, more advanced energy storage solution.

By combining PETL’s high performance battery systems with Brill Power’s intelligent software, the partnership aims to make batteries safer, more efficient and longer-lasting in applications ranging from electric buses to the power grid.

"PETL’s acquisition of Brill Power enables us to embed the Brill software in all of our systems, instantly giving PETL a leading position in the space to serve customers such as FirstGroup," said Andy Palmer, CEO and co-founder of PETL.

"With buses at the forefront of the transition to electric vehicles and net zero transportation, I’m delighted to welcome investment from FirstGroup, as well as Barclays and Oxford University, to advance the development of next-generation control systems. This will allow us to accelerate our business and give the UK a leading position in BESS technology."

Brill Power, founded in 2016 by Oxford engineers and scientists, has developed smart battery technology that enhances battery safety and extends their lifespan.

It works by carefully controlling the amount of power drawn from each cell depending on its state of charge. This helps avoid breakdowns and boosts efficiency particularly in transportation and energy storage, where reliability is crucial.

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Following the acquisition, Brill Power will operate within PETL for integrated systems, while maintaining its brand independently for module sales to third-party partners.

The acquisition and accompanying growth capital form part of a broader strategy to scale PETL’s UK operations, increase domestic assembly, and simplify the supply chain.

The £5 million Series A round was co-led by FirstGroup Energy Limited, the energy investment arm of FirstGroup plc, which joins as both a strategic investor and customer.

"This investment continues our strategy of backing new and innovative companies aimed at supporting our long-term public commitment of achieving a zero-emission fleet by 2035," said Faizan Muhammad, Investment Director at FirstGroup plc. "PETL, along with its acquisition of Brill Power, will unlock innovative energy procurement solutions whilst providing second-life use cases when batteries are taken off electric buses."

"It is great to see the coming together of PETL and Brill Power to accelerate their novel energy storage technologies," said Adam Workman, Head of Investments and New Ventures at Oxford University Innovation. "Alongside FirstGroup, we hope that the combined business will accelerate the commercialisation of its energy platforms."

The PETL-Brill Power acquisition underscores a broader trend in Europe’s cleantech and energy storage landscape where advancements in both battery hardware and software are crucial to meeting net-zero goals and ensuring grid stability during the clean energy transition.

About Brill Power

Brill Power, spun out of Oxford University, delivers a breakthrough Battery Intelligence Platform that boosts battery lifespan, performance and sustainability for EVs and energy storage. Replacing legacy systems, its end-to-end solution lowers ownership costs. Backed by a Series A round led by Legal & General and Barclays.