UK-based Palmer Energy Technology Limited (PETL), a startup focused on battery energy storage systems, has acquired Brill Power, an Oxford University spin-out specializing in cell-level battery management software. The transaction is supported by a new Series A funding round of approximately €5.7 million, co-led by FirstGroup Energy Limited, Barclays Climate Ventures and the University of Oxford.
Established in 2024 by Dr. Andy Palmer and entrepreneur Wei Shao, PETL applies automotive-grade engineering to stationary battery systems. The integration of Brill Power’s active balancing platform is intended to extend battery lifespan, enhance safety and improve energy efficiency across PETL’s product range. Brill Power will continue operating under its own brand to supply modules to third-party customers, while its software will be embedded in PETL’s systems.
All software development and data storage will remain in the UK to ensure compliance and security standards. The combined business aims to bolster UK-based manufacturing, strengthen supply-chain control and serve industrial, grid and transport applications.
FirstGroup’s investment forms part of its long-term objective to achieve a zero-emission fleet by 2035. According to Faizan Muhammad, Investment Director at FirstGroup, the partnership will support innovative energy procurement solutions and create second-life use cases for batteries retired from electric buses. Adam Workman, Head of Investments and New Ventures at Oxford University Innovation, added that the deal will accelerate commercialization of advanced energy storage platforms.
PETL’s CEO and Co-founder, Andy Palmer, highlighted the significance of embedding Brill Power’s software: it positions PETL to serve customers such as FirstGroup and advance next-generation control systems for the UK’s transition to electric transport. The acquisition and funding round represent key milestones in PETL’s strategy to deliver high-quality, locally engineered BESS technology and support the nation’s net-zero ambitions.
Source: EU-Startups
