Ultracapacitor Manufacturer Skeleton Technologies Draws $61 Million From Investors

By James White Thursday, March 18, 2021

As energy companies and businesses continue to develop and refine sources of energy generation, the issue of storing the energy for applications ranging from power grid infrastructure to electric vehicles (EVs) becomes increasingly important. Startup business Skeleton Technologies aims to address the need for storage solutions with the production of graphene-based ultracapacitors, which allow businesses across numerous sectors, including the automotive industry, to save energy. The startup company garnered nearly $61 million from investors in the latest funding round for the business.

Co-founder and Chairman Oliver Ahlberg & co-founder and CEO Taavi Madiberk.

“We are continuously investing in R&D – whether it is improving the performance of our products or the process in which we make those products,” said Taavi Madiberk, co-founder and CEO of the startup company. “The next stage of our production will see an implementation of fully automated Industry 4.0 manufacturing techniques – a first-of-its-kind in the ultracapacitor industry.”

The most recent round of funding for the startup company was backed by Germany’s Federal Ministry for Economic Affairs and Energy, in addition to the Free State of Saxony. The financing comes as part of the “European Battery Innovation” project, an Important Project of Common European Interest (IPCEI) approved by the European Union Commission earlier this year to assist the shift from fossil fuels. Other companies targeted by the project include big names in the EV business, such as Elon Musk’s Tesla and BMW.

Ensuring Lasting, Efficient Energy Storage and Fast Discharge

Founded in 2009 by Madiberk along with entrepreneur Oliver Ahlberg, the Germany-based startup company seeks to revolutionize the energy storage business with its ultracapacitors. With the influx of new business capital, Skeleton Technologies plans to automate the production of its ultracapacitors in its Großröhrsdorf factory.

Skeleton Technologies ultracapacitors use patented curved graphene nanotechnology. The startup business claims that its ultracapacitors are capable of over 1 million charges. The technology functions even at extreme temperatures without the environmentally harmful chemicals present in many standard batteries and boasts higher power density and efficiency than others on the market, which is key to improving the efficiency of electric vehicles utilizing products created by Skeleton Technologies.

Charging Into a Bustling Market

Market research projects the global supercapacitor industry to grow at a CAGR of 20% over the next few years, reaching $3.5 billion by 2025. As the EV industry continues to expand with more and more leading car companies like GM, Ford, and BMW shifting to electric, the startup company will serve an important role in developing technology used to increase the efficiency of these electric vehicles. Skeleton Technologies plans to cut the business cost to produce its ultracapacitors by 90% over the next five years.

About the Author

Headshot for author James White

James White is a Michigan State University graduate with a B.S. in Environmental Biology. He is interested in reporting emerging trends in technology, especially with regard to alternative energy and environmental conservation.

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