- UK battery energy storage systems manufacturer Palmer Energy Technology has announced the acquisition of Oxford University spin-out Brill Power, a battery intelligence platform that boosts battery safety and long-term health.
- Brill Power’s solution works by drawing the optimal current from each individual cell within a battery pack, based on their individual state of health figures.
- Palmer Energy Technology is now set to implement Brill Power’s control platform across its battery energy storage systems.
Tie up between Palmer Energy Technology and Brill Power will help commercialise battery storage further
Palmer Energy Technology was founded by both Wei Shao, who has over 10 years of experience in the private investment sector, and Dr Andy Palmer CMG, former CEO of Aston Martin and former COO of Nissan Motor Company – who has been described as the ‘godfather of EVs’, having helped to launch the world’s first mass-produced electric passenger car, the Nissan Leaf.
The deal will bring together the two firm’s specific areas of expertise, helping to advance the commercialisation of battery energy storage systems. For EV charging in particular, such systems are set to play a significant part in allowing charging infrastructure in areas previously unfeasible, by overcoming any potential grid constraints.
Alongside the news of the acquisition, UK transport operator FirstGroup has now also made a strategic investment into Palmer Energy Technology, joining Barclays Climate Ventures as one of the key backers of the firm. FirstGroup already existed as a customer for the firm, and the two will now work together to launch the operator’s biggest battery storage site yet, coming to its Hoeford bus depot in Hampshire next month.
Andy Palmer, CEO and co‑founder of PETL, commented:
“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.
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 development of next generation control systems. This will allow us to accelerate our business and give the UK a leading position in BESS technology.”
Faizan Muhammad, Investment Director at FirstGroup, added:
“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. 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.”
Adam Workman, Head of Investments and New Ventures at Oxford University Innovation, said:
“It is great to see the coming together of PETL and Brill Power to accelerate their novel energy storage technologies. Alongside FirstGroup, we hope that the combined business will accelerate the commercialisation of its energy platforms.”
