Estonian-founded fast energy storage firm Skeleton Technologies has raised a €108 million equity and debt funding round with investment from Siemens Financial Services (SFS) and Marubeni Corporation, including other investors.
Marubeni Corporation is a conglomerate, which includes Warren Buffet’s Berkshire Hathaway as a significant shareholder. It distributes Skeleton's products in Asia, helping acquire customers for Skeleton’s SuperBattery in the region.
The fresh capital will forward the development and manufacturing of Skeleton’s high-power battery technology – the SuperBattery and through partnerships will automate and digitise Skeleton’s upcoming factory in Markranstädt, Germany.
The heavily backed climatetech firm, amassing over €300 million in funding to date, also develops and produces its own patented raw material called Curved Graphene, in a facility in Germany. The material allows products to reach high levels of performance without having to rely on toxic metals.
“Securing an investment from one of Europe's largest tech companies is a significant milestone for Skeleton. In addition to SFS’ investment, Siemens is also a key partner, supplier, and customer. Their expertise in industrialisation and commercial partnerships will propel our growth and solidify our role in leading the energy transition,” says Skeleton Technologies’ CEO and co-founder Taavi Madiberk.
"Siemens has a long-standing relationship with Skeleton, recently signing a cooperation agreement to digitise supercapacitors production with our manufacturing operations management system. We're pleased to deepen this partnership by investing in their expansion and the development of advanced battery technologies. Our goal is to support innovative technologies for a sustainable future, and Skeleton aligns perfectly with this vision, having developed cutting-edge high-power, fast-charging technologies," says Steffen Grosse, CEO of SFS’s Equity business.
Lead image: via Skeleton Technologies. Photo: Uncredited.