Skeleton Acquires European Batteries Plant in Finland
Skeleton Technologies has announced the acquisition of the assets of the bankruptcy estate of European Battery Technologies Oy and a separate lease agreement with Keski-Savon Teollisuuskylä for a 9400 sqm plant in Varkaus, Finland.
The assets were initially owned by European Batteries Oy, a pioneer in the European battery industry and the first company to produce Lithium Iron Phosphate (LFP) batteries in Europe. This new site has an output of 0.1 GWh and will add new manufacturing capacity for Skeleton, therefore accelerating the development and production of Skeleton’s current and future energy storage products.
Skeleton's CEO, Taavi Madiberk, stated, "We are investing to ramp-up our manufacturing capacity in Germany. Finland is an excellent addition for rapid prototyping and expanding our piloting capabilities significantly. It will support our existing manufacturing sites and will allow us to initiate the pilot production of our next generation products."
"Expanding to Finland is part of our international strategy, and we are confident we can find the right environment and support to grow there further. As the demand for our existing and future battery products is rising fast, Finland won't be the last country where we will broaden our reach. We have an ambitious technology roadmap to serve all needs for energy storage, which is why we will need to accelerate the expansion of our development and manufacturing capabilities," said Madiberk.
To support activities in Finland, Skeleton Technologies will also set up a R&D team in the vicinity of Aalto University, led by well-known battery expert Dr. Kai Vuorilehto.
Joonas Hänninen, the Mayor of Varkaus stated: "We are excited to welcome Skeleton Technologies to Varkaus. The city of Varkaus has a long industrial history and together with Skeleton Technologies, we are taking a big step into the new era of the modern energy industry. We are looking forward to the growth and innovation they will bring to our city and the broader energy storage industry."
Pauliina Tenhunen, partner at Castrén & Snellman Attorneys Ltd. and the administrator of the bankruptcy estate stated: “We are very pleased of this outcome and glad to see a bright and sustainable future for both Skeleton Technologies and Varkaus city.”
With this strategic expansion, Skeleton Technologies will accelerate the development and production of its SuperBattery and other new energy storage products on its technology roadmap. This ramp up of manufacturing and R&D capacity will strengthen Skeleton’s position to serve the market needs for high-power fast-charging energy storage, and explore new technologies.