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October 18, 2023

Estonia's Powerhouse, Skeleton Technologies, Raises €108M

Estonian-based its groundbreaking venture last year, the construction of a cutting-edge supercapacitor production facility

Estonia's energy storage innovator, Skeleton Technologies, has achieved a remarkable milestone by securing €108 million in funding, bolstering its pursuit of cutting-edge supercapacitor and high-power battery technology. With this latest investment round, Skeleton Technologies has now gathered over €300 million in funding, solidifying its status as one of Europe's most well-funded deep tech companies.

This substantial funding boost was spearheaded by Siemens Financial Services, the financial arm of German manufacturing giant Siemens, along with Japanese conglomerate Marubeni Corporation and Brazilian mining firm CBMM. Marubeni Corporation, in collaboration with Warren Buffet's Berkshire Hathaway, is not only enhancing the distribution of Skeleton's products across Asia but also assisting in acquiring customers for Skeleton's revolutionary SuperBattery within the region.

Skeleton's strategic plans revolve around accelerating the development of next-generation products and expanding the manufacturing footprint for supercapacitors and their pioneering SuperBattery technology. They are currently scaling up production of supercapacitors in collaboration with Siemens, establishing a state-of-the-art factory in Markranstädt near Leipzig, and actively developing their innovative SuperBattery technology for future large-scale production. The Leipzig plant is expected to be fully operational by the end of 2024 and is projected to produce up to twelve million cells annually, representing a 40-fold increase in output compared to the company's existing facility in Großröhrsdorf, Germany.

Skeleton Technologies is gaining a competitive edge with its highly efficient, fully automated production line, poised to become the world's most unique in this domain. The company relies on its patented raw material, Curved Graphene, which is developed in its facility in Bitterfeld-Wolfen, Germany, using locally sourced, widely available European materials. This innovative material empowers Skeleton's products to achieve unparalleled performance levels without relying on toxic metals, a significant step towards clean technology sustainability and Europe's security of supply.

Skeleton Technologies' commitment revolves around providing ultracapacitor cells, modules, and systems that empower companies to reduce CO2 emissions and save energy. The support and investment from Siemens and Marubeni Corporation not only signify a significant milestone for Skeleton but also hold immense promise for the European battery industry. By securing investments from these key partners, Skeleton Technologies is poised to lead the charge in global electrification, backed by industrial powerhouses from Europe and Asia.

Neil Hodgson Coyle
Neil Hodgson-Coyle
Editorial chief at TechNews180
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