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Estonia-born Skeleton Technologies receives an additional €51 million funding to scale up ultracapacitors production

Estonia-born Skeleton Technologies receives an additional €51 million funding from Germany’s Federal Ministry for Economic Affairs and Energy (BMWi) and the Free State of Saxony to scale up ultracapacitors production.

Skeleton aims to develop new production technology to fully automate manufacturing in its Großröhrsdorf factory in Germany. As a result of these R&D efforts combined with the use of its patented “curved graphene” material, the production costs of Skeleton’s ultracapacitors should decrease by almost 90% after completion of its 5 years project.

This project will include the development of a fully-automated ultracapacitor production line in its Großröhrsdorf factory – a first in the industry. The economies of scale provided by this new technology, combined with the use of Skeleton’s patented “curved graphene” material, will dramatically drive the production costs down, boosting the competitiveness of ultracapacitors as the key enabling technology for the future of transportation and electrification.

Taavi Madiberk, CEO and co-founder of Skeleton Technologies, explains: “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. 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. Coupled with our curved graphene material, we are able to dramatically decrease the cost of ultracapacitors. The ultracapacitor industry is in the same situation as lithium-ion batteries were in 1999, but our advancements in core technology and production capabilities will be able to show a cost reduction faster than for any other energy storage technology. We have a clear road map to lower it by almost 90% after completion of our 5 years project.”

Skeleton’s new development plans will receive direct funding from Germany’s Federal Ministry for Economic Affairs and Energy (BMWi) and the Free State of Saxony under the “European Battery Innovation – EuBatIn” IPCEI framework.

“With a projected annual volume of around €250 billion by 2025, the European battery industry will play a key role in the continent’s economic recovery,” adds Christian Müller, CEO of EIT InnoEnergy in Germany, which is one of the drivers of the European Battery Alliance (EBA) and one of Skeleton’s investors.

Estonia, with its digital infrastructure and pro-business environment is the place where the R&D for the next energy revolution comes as companies such as Skeleton Technologies are born here. Find out more about Estonia’s energy sector and its CleanTech capabilities here.

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