Enables palmitoyl-CoA hydrolase activity. Involved in several processes, including response to epidermal growth factor; response to hypoxia; and very long-chain fatty acid catabolic process. Located in mitochondrion. Used to study type 2 diabetes mellitus. Orthologous to human ACOT2 (acyl-CoA thioesterase 2). [provided by Alliance of Genome Resources, Apr 2022]