Skeleton Technologies raised €108M in equity and debt
Estonian developer of supercapacitors (fast-charging batteries) Skeleton Technologies raised €108M in equity investment and debt. The financing was provided by Siemens Financial Services, which is a division of German manufacturer Siemens and Skeleton Technology's partner Japanese general trading company Marubeni Corporation. Estonian investment company MM Grupp, which is owned by Estonian millionaire and the owner of Eesti Meedia Margus Linnamäe, and Brazilian mining company CBMM also participated in the round.
Founded in Tallinn in 2009 by Taavi Madiberk and Oliver Ahlberg, Skeleton Technologies manufactures supercapacitors, also known as ultracapacitors. They have high power density, fast charging and discharging, extreme temperature tolerance, and lifetimes of more than 1M charge-discharge cycles. The company developed a carbon nanomaterial curved graphene to manufacture supercapacitors and superbatteries. This material gives them power and energy density. Supercapacitors can be used for automotive, transportation, grid, renewable energy, and industrial applications. For instance, to power trams or industrial machinery, as well as in combination with batteries.
Recently Skeleton Technology has started to build a plant for manufacturing supercapacitors in the German town Markranstädt. According to the Estonian developer of supercapacitors, the plant will increase production of batteries by 40 times in 2024. Among the company's customers are Siemens, General Electric, Shell, automobile, and heavy electric machinery manufacturers from Europe and the United States.
Estonian Skeleton Technologies will use the investment to scale the production of supercapacitors and high-power battery technology – the SuperBattery, which combines the characteristics of supercapacitors and batteries.
In the summer, Skeleton Technology announced an investment from Marubeni Corporation. It was €50M, provided with convertible bonds. To date, Estonian developer of supercapacitors have raised more than €300M.
