Estonian energy storage startup Skeleton Technologies raises an additional funding
Tallinn-based ultracapacitor manufacturer Skeleton Technologies has raised an undisclosed amount of funding from existing investor Marubeni Corporation. The company will use it to build a production factory, SuperBattery, Invest in Estonia informs.
- Skeleton Technologies specializes in manufacturing super capacitors, known as electric double-layer capacitors (EDLC), an energy storage devices with extremely low internal resistance that enable quick charge and discharge at high currents. They also have a high level of safety and a long service life of up to one million charge/discharge cycles.
- The company claims it offers the solutions to a variety of markets, including those for grid, transportation, and industrial applications. Among its clients are Siemens, General Electric, and Shell.
- Currently, the company prepares mass production of a storage battery called the SuperBattery. According to Skeleton Technology, SuperBattery has a lower environmental impact compared to other storage batteries, emitting less CO2 throughout its lifecycle from manufacturing to disposal. Its mass production is expected to start in 2024.
- Marubeni Corporation, one of the biggest Japanese conglomerates, led the round. In 2021, it already invested in Skeleton, buying close to 1% of the company. To date, in January 2022, Skeleton raised its Series D3 round with nearly €38 million of equity investment.
- The fresh investment is a part of cooperation between Estonia and Japan in energy sector and contributes to the global energy transition. The deal will also help to develop the SuperBattery and deliver it to manufacturers in a variety of sectors.