Skeleton Technologies of Estonia announced it has secured €108 million ($114 million) of financing from a group of industrial and financial investors for development of a new product generation. It will also expand supercapacitor manufacturing capacity and develop a totally new high-performance battery.
Investors include Siemens Financial Services of Germany, the Japanese conglomerate and trading house Marubeni and the Brazilian mining company CBMM.
Taavi Madiberk, CEO and co-founder of Skeleton Technologies, said: “Securing an investment from Siemens, one of Europe’s largest tech companies is a significant milestone for Skeleton. Their expertise in industrialisation and commercial partnerships will propel our growth and solidify our role in leading the energy transition.”
Skeleton Technologies has developed a range of advanced battery solutions including so-called curved graphene, developed in the company’s German plant in Bitterfeld-Wolfen. The graphene element eliminates the use of toxic metals in high performance cells.
The supercapacitor factory in Markranstädt, close to Leipzig, will also ramp up its production, expected to be completed at the end of 2024 in collaboration with Siemens. The factory is designed for up to 12 million cells per year.
Skeleton also develops the SuperBattery technology there. This battery is aimed for applications needing less than 45 minutes’ energy, for example toothbrushes.
Skeleton carries out module and system development in Tallinn, and has a manufacturing unit in Viimsi, also in Estonia. The company’s supercapacitor factory is in Dresden, Germany, and a technology development centre in Varkaus, Finland.
