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Burges Salmon advises FirstGroup on strategic investment backing PETL’s acquisition of Brill Power

3 Sep 2025 2 min read

We have advised longstanding client FirstGroup plc on its strategic investment in Palmer Energy Technology Limited (PETL), supporting PETL’s acquisition of Oxford University spin-out, Brill Power, a company known for its advanced battery management technology.

The £5 million Series A funding round was co-led by FirstGroup Energy Limited – the Group’s dedicated energy investment arm and both a strategic investor and customer of PETL – alongside Barclays Bank and the University of Oxford.

The deal marks a significant consolidation of UK-based innovation in the battery energy storage space, with the integration expected to enhance safety, efficiency, and lifecycle performance in battery deployments across sectors, from electric buses to grid-scale storage. The acquisition and growth capital are also part of a broader ambition to scale PETL’s UK operations, enhance domestic assembly and shorten supply chains.

Our Corporate and M&A team was led by partner Alex Lloyd, senior associate Niall Mackle and solicitor Shaaf Alam.

“We’re proud to have supported FirstGroup on this landmark investment which champions innovation in sustainable transport. The PETL-Brill Power combination represents a leap forward in battery intelligence and energy optimisation and it’s great to see FirstGroup being a leader in this area and backing new and innovative companies that support its long-term public commitment of achieving a zero-emission commercial bus fleet by 2035.”

Alex Lloyd, Partner, Burges Salmon

“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, we’re thrilled to have played a part in this innovative collaboration. We’re grateful to Alex, Niall, Shaaf and the Burges Salmon team for their commercial approach, expert advice and continued partnership.“

Faizan Muhammad, Investment Director, FirstGroup plc

Our Sustainable Transport team works across the entire transport sector, combining deep sector knowledge with net zero expertise to support clients on high-profile and nationally significant projects. FirstGroup is a longstanding client of Burges Salmon and the firm played a key role in facilitating its £500m train deal with Hitachi to support new open access rail services and last year acted on FirstGroup Energy’s first venture investment into its electrification partner KleanDrive.

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