The battery manufacturer Brill Power has announced the conclusion of an £8.7 million ($10.5 million) Series A funding round.

The Oxford University spin-out company has stated that the funds will support its mission to make batteries smarter, cleaner, safer, and longer-lasting as a critical element in the shift towards zero emissions energy.

The funding round was led by new investors Legal & General Capital and Barclays Sustainable Impact Capital Programme, along with support from previous Brill investors including Oxford Science Enterprises and Oxford University.

Brill utilises an ‘active loading’ method which increases battery life by up to 60 per cent and allows used batteries to discharge up to 46 per cent more energy through a combination of hardware and intelligent software.

The manufacturer’s technology applies to battery systems in applications including commercial and industrial buildings, on and off grid energy storage, residential homes and electric vehicles in a market estimated to be worth $400 billion by 2030, according to a report by McKinsey & Company.

James Ferrier, head of sustainable impact capital at Barclays, commented: “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.”

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