Skeleton signs a strategic cooperation agreement with Marubeni
- This strategic cooperation agreement entails business cooperation between Skeleton Technologies and Marubeni Corporation to take Skeleton’s new generation of ultracapacitors, also known as SuperBattery, to the Asian automotive market, with a strong focus on electrified vehicles and hydrogen transportation.
- As part of this agreement, Marubeni Corporation also made an equity investment on top of the €41.3 million ($48.5 million) Series D financing round announced by Skeleton in November 2020.
- The cooperation will primarily focus on the SuperBattery product line, which has 15-second charging capability and hundreds of thousands of deep charge/discharge cycles, presenting multi-billion euros business opportunities. In addition, Skeleton Technologies and Marubeni Corporation also aim to cooperate on new applications for curved graphene, Skeleton’s patented material enabling the company’s technological and competitive advantages.
Skeleton Technologies - a Global Cleantech 100 company and the largest European manufacturer of ultracapacitors - and Marubeni Corporation - one of Japan’s largest conglomerates with over €50 billion of annual revenue - have signed a strategic cooperation agreement to support commercial scale-up and customer acquisition for Skeleton’s SuperBattery in the Asian automotive sector. This key enabling technology allows to serve the fast-growing electrified vehicles and hydrogen transportation markets.
Masayuki Omoto, COO of Next Generation Business Development Division of Marubeni Corporation, said: “Enabling carbon-neutral electrification is a key priority for Marubeni Corporation. Skeleton Technologies fits perfectly in our portfolio as they fill the gap for high-power, extremely long high-cycles, and efficient energy storage devices. The company has validated its competitive advantage in real-life applications and has shown strong commercial traction. We are delighted to back Skeleton because we see that, besides their technological advantage, they are going after scale as evidenced by their participation in the €3 billion ‘European Battery Innovation’ project alongside companies such as Tesla and BMW.”
Taavi Madiberk, CEO and co-founder of Skeleton Technologies, stated: “Marubeni Corporation is a major conglomerate keen on advanced technology businesses and now becomes a key strategic partner for Skeleton Technologies. Our cooperation will drive the Asian automotive market’s adoption of our technology in the near future as the cost down will be much faster than for lithium-ion batteries. Our main focus is on electrified vehicles and hydrogen transportation markets because our products allow them to function more efficiently and drive their costs down.”
Skeleton Technologies is currently investing in technology development and scaling up a new product line for the automotive sector. The cooperation with Marubeni covers Asia, excluding China and India, and will offer new resources to commercialize Skeleton’s graphene-based SuperBattery. This new energy storage solution is the ideal complementary technology for lithium-ion batteries and hydrogen fuel cells, improving overall system efficiency and performance.
While having a strong focus on the expanding electrified and hydrogen-based transportation market, Skeleton and Marubeni will also cooperate on new applications of Skeleton’s patented curved graphene material, the key enabling technology behind Skeleton’s ultracapacitors’ performance advantage.
Marubeni Corporation has also made an equity investment in Skeleton Technologies, on top of the €41.3 million ($48.5 million) Series D financing round announced by the company in November 2020.