Battery Player Brill Power Raises $10.5 Million Series Funding

Highlights :

  • Brill Power has announced the conclusion of its Series A round raising $10.5m today (July 20th, 2022).
  • This investment will be used by Brill Power to further its goal of developing batteries that are smarter, cleaner, safer, and longer-lasting as a crucial component of the transition to zero-emission energy.
  • Additionally, the money will help the company develop new products and strengthen its personnel to increase its footprint in the static energy storage and automotive industries.

UK-stated battery management and control technology developer, Brill Power has announced the conclusion of its Series A round raising $10.5 million today (July 20th, 2022). This $10.5 million investment will be used by Brill Power to further its goal of developing batteries that are smarter, cleaner, safer, and longer-lasting as a crucial component of the transition to zero emission energy. Additionally, the money will help the company develop new products and strengthen its personnel to increase its footprint in the static energy storage and automotive industries.

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All of Brill’s previous investors, including Oxford Science Enterprises, Oxford Investment Consultants, and Oxford University, participated in the round, which was led by two new blue-chip investors — Legal & General Capital and Barclays Sustainable Impact Capital Programme — and supported by all of them. Additionally, shareholders Shell Ventures and Climate KIC have joined.

Investor optimism is fueled by Brill Power’s brand-new battery management system that has none of the drawbacks of conventional approaches (according to the company). Also Brill added that this optimised Active Loading technology extends battery life by up to 60% and enables used batteries to discharge up to 46% more energy.

The battery market is expected to be worth $400 billion by 2030, and Brill Power’s technology is a critical enabler for battery systems in applications such as commercial and industrial buildings, on and off-grid energy storage, residential dwellings, and electric vehicles. As part of the larger transition to clean infrastructure with zero emission, enterprises, and technology, Brill’s solutions are aligned with their new investor interests in working with facilitators of clean energy generation, particularly intermittent renewables.

Three things are on the company’s agenda after the financing round. Based on successful projects finished with Aston Martin, AMTE Power, and Delta Cosworth, the firm will extend its product range for both static energy storage and the world’s largest battery market – electric vehicles – and quadruple the size of its technical and commercial operations teams. Finally, the money will assist the company’s data platform (BrillAnalytics) move forward in its development so that clients may remotely monitor and forecast data on battery safety, health, and performance.

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