Skeleton Technologies Raises €2,2 Million in Round A Financing
We are happy to announce that Skeleton Technologies has raised €2,2 million in Round A financing. This will allow us to expand our production capabilities to meet the demands of our customers and to better supply the market with the most technologically advanced ultracapacitors available.
The funding will also be used to relocate Skeleton Technologies Research Center to a state-of-the-art facility in Tartu, Estonia.
Ultracapacitor Manufacturer Skeleton Technologies Raises €2,2 Million in Round A Financing
Skeleton Technologies, manufacturer of next-generation ultracapacitors, increases production capacity fuelled by a disruptive competitive advantage and €2,2 million investment round.
Berlin, Germany (PRWEB) April 16, 2013 -- Skeleton Technologies, manufacturer of industry-disrupting ultracapacitors, which have four times higher power densities and up to two times higher energy densities than the closest competitors, closes a €2.2 million Round A financing lead by Up Invest, an Estonian private equity investor.
The financing will be used to meet increasing demand for high performance energy storage solutions.
Skeleton Technologies CEO Mr Taavi Madiberk explained: ‘Combining superior energy and power density in a robust design has attracted several high-profile customers. Skeleton ́s customer list already includes the European Space Agency and several US and European Tier 1 automotives.’
‘The competitive advantage not only enables to upgrade a variety of energy storage solutions by replacing our competitors’ products, but also pushes the boundaries and creates a market for novel applications in the space and defence segment’, Madiberk added.
SkelCap Ultracapacitors - Green and Cost-Efficient
Skeleton Technologies' ultracapacitors will solve crucial energy storage problems with a green, environmentally friendly and cost-effective solution by recapturing braking energy and providing peak and back-up power to increase energy efficiency in a variety of applications, ranging from automotive start-stop systems for conserving fuel to wind turbine pitch control for safer renewable energy generation. Ultracapacitors’ ability to release stored energy in a matter of milliseconds and a 99% ultimate efficiency rate with a lifespan of over 15 years and 1 million charge/discharge cycles in a wide temperature range, make them ideal substitutes or complementing devices for batteries.
Margus Linnamäe of UP Invest commented that they had been looking for an investment in energy storage and Skeleton Technologies immediately caught their eye. What set the company apart is the proprietary technology based on carbide-derived carbon, which enables nanotuning the material for superior performance.
According to Linnamäe, Skeleton Technologies’ competitive advantage is two-fold: higher power and energy density allows to use up to two to four times smaller and lighter cells for the same application; this also means less materials being used in manufacturing, which will in perspective translate to cost savings for customers.
