Brill Power, an Oxford University spin-out company working on EV battery management, has raised $10.5M in a Series A funding round led by two new blue-chip investors – Legal & General Capital and Barclays Sustainable Impact Capital Programme.
Existing investors, including Oxford Science Enterprises, Oxford Investment Consultants, and Oxford University, participated in the round. With this round, Shell Ventures and Climate KIC have also become shareholders.
How will the funding be used?
Brill Power will use the funds to double its team growth across engineering and commercial operations while expanding its product range for static energy storage and for the world’s largest battery market – electric vehicles.
A part of the funding will support the next phase in developing the company’s data platform (BrillAnalytics) to help customers monitor and predict battery safety, health, and performance data remotely.
Dr. Christoph Birkl, Brill Power’s CEO says, “Thanks to our exceptional team at Brill, we have made great strides over the past two years. We have a ground-breaking commercial product in the marketplace and a pipeline of new developments and products to address the stationary energy storage and automotive markets. Our progress and our potential have attracted an impressive cadre of both existing and new investors. We are delighted to welcome Legal & General Capital and Barclays Sustainable Impact Capital on board while also enjoying the continued support of all our existing investors for the important journey ahead of us. We now have the means to act on the opportunity to offer the market a step-change in improvements for zero-emissions technologies – for the benefit of our investors, our customers, and also the community we serve.”
Battery management system
Based out of Oxford, Brill Power is a clean-tech platform that develops cutting-edge battery management technology to increase the lifetime performance of lithium-ion battery packs.
Brill Power, a battery management platform is on a mission is to harness the potential of battery management systems to improve performance and reduce the costs of ownership of stationary & motive power batteries.
The company’s optimised Active Loading method increases battery life by up to 60% and allows used batteries to discharge up to 46% more energy through a proprietary combination of hardware and intelligent software.
John Bromley, Managing Director, Clean Energy at Legal & General Capital says, “As we grow our climate and clean energy platform, investing in Brill Power is an exciting move into energy storage technologies that are crucial to enable an increase of renewables on the power grid, electrification of transport, and to power our homes, businesses, and key infrastructure. Through extended lifetimes, improved safety, and waste reduction, Brill Power’s work is setting a new standard for how to store and use clean power to accelerate progress to our net zero emissions goals.”
James Ferrier, Head of Sustainable Impact Capital at Barclays says, “Reliable and long-lasting storage solutions for renewable energy are going to be vital for a successful and orderly transition to a low-carbon economy. Pioneering technology, such as Brill Power’s battery management system, will play an important role and we are excited to be supporting them as they scale and extend their product range.”