Skeleton Technologies, headquartered in Tallinn, specializes in the production and advancement of high-energy and power-density ultracapacitors. Now, the company revealed the successful closure of a new funding round, securing €108 million.
Siemens Financial Services (SFS), along with existing investor Marubeni Corporation and Brazilian mining giant CBMM, which made its inaugural investment, contributed to this funding. The consortium, which includes Warren Buffet’s Berkshire Hathaway, acts as a distributor for Skeleton’s products in Asia and assists in building a customer base for Skeleton’s SuperBattery in the region.
Additionally, these companies have joined forces to implement automation and digitization in Skeleton’s upcoming manufacturing facility located in Leipzig, Germany.
Steffen Grosse, CEO of Equity Finance at SFS, expressed, “Siemens has a well-established history of collaboration with Skeleton, including a recent agreement to digitize supercapacitor production using our Manufacturing Operations Management System. We are delighted to deepen this collaboration by investing in their expansion and the advancement of cutting-edge battery technologies.”
He continued, “Our objective is to support innovative technologies that contribute to a sustainable future, and Skeleton perfectly aligns with this vision, having pioneered high-power, rapid-charging technologies. This makes us enthusiastic about investing in Skeleton and contributing to the development of a robust battery ecosystem in Europe.”
A Pioneer in High-Power Energy Storage Solutions
Established in 2009 by Oliver Ahlberg and Taavi Madiberk, Skeleton Technologies is a specialist in the production of high-energy and power-density ultracapacitors, utilizing a patented curved graphene material.
These ultracapacitors, also referred to as electric double-layer capacitors (EDLC), boast low internal resistance, facilitating rapid charging and discharging at elevated currents. They offer exceptional safety levels and an extended service life of up to one million charge/discharge cycles.
Skeleton Technologies has harnessed nanoporous carbide-derived carbon, known as ‘Curved Graphene,’ which has led to groundbreaking advancements in ultracapacitor performance. This innovation was developed at the Skeleton Materials facility in Bitterfeld-Wolfen, Germany, using locally sourced materials that are readily available and abundant in Europe.
The company caters to a variety of sectors, encompassing grid, transportation, and industrial applications. Their ultracapacitors deliver four times the power density and double the energy density in comparison to products offered by other manufacturers.
An Introduction to SuperBattery
Skeleton Technologies has introduced the SuperBattery, a groundbreaking technology that amalgamates the advantages of both batteries and supercapacitors.
With an impressive lifespan of 50,000 cycles and a charging rate 100 times swifter than conventional lithium-ion batteries, the SuperBattery stands out for its safety, eco-friendliness, and minimal CO2 emissions during both production and disposal, according to Skeleton.
To cater to the surging demand and replace conventional batteries, Skeleton is in the process of constructing a mass-production facility, slated to commence operations in 2024.
SuperBatteries find diverse applications across various sectors, including electric vehicles and charging infrastructure. They present an opportunity for reduced CO2 emissions and cost savings, particularly in demanding industries such as mining and off-road equipment.
Skeleton Technologies has outlined plans to utilize the investment to expedite the advancement of next-generation products and extend their manufacturing capabilities for supercapacitors, including their innovative high-power battery technology, the SuperBattery.
According to Taavi Madiberk, he stated, “Securing an investment from one of Europe’s largest tech companies represents a significant milestone for Skeleton. In addition to SFS’ investment, Siemens holds a pivotal role as a partner, supplier, and customer.”
He further emphasized, “Their expertise in industrialization and forging commercial partnerships will drive our growth and reinforce our position as a frontrunner in the energy transition.”
The Leipzig Manufacturing Facility
Skeleton Technologies is embarking on an expansion of its supercapacitor manufacturing capabilities through a new facility located in close collaboration with Siemens, scheduled for completion by the end of 2024.
This state-of-the-art factory will boast a significantly higher production capacity compared to the company’s existing site in Großröhrsdorf, Germany, with the capacity to manufacture up to 12 million cells annually. In tandem with this, Skeleton is diligently progressing in the development of its SuperBattery technology to enable future mass production.
Following the recent Round E1 funding, the company’s cumulative funding has now surged beyond €300 million, firmly establishing its presence among Europe’s prominent deep tech enterprises.