Skip to main content
invest in estonia


Estonian Skeleton Technologies powers up with €51M investment from Germany and Saxony

Estonian ultracapacitor and SuperBattery manufacturer Skeleton Technologies is set to receive €51m from the German government and the state of Saxony to build a second production unit in Leipzig.

Skeleton Technologies, an Estonian manufacturer of ultracapacitors and SuperBatteries, is set to receive €51 million from the German government and the state of Saxony towards its second production unit, to be built in Leipzig.

SuperFactory for SuperBatteries

The plant, supported by funding from the Federal Ministry for Economic Affairs and Climate and the EUBatin project, is expected to boost the company’s output by up to 40 times, allowing it to produce around 12 million ultracapacitors and SuperBatteries annually while slashing production costs.

The efficiency will come from the partnership with Siemens, which will help to automate and digitize the plant. The total cost of the project has previously been estimated at €220M.

Skeleton’s existing production plant in Dresden would not have been able to keep up with the rapidly growing demand from its customers, including Shell, Honda, Siemens and CAF. The company plans to launch the new plant next year and expects it to contribute significantly to doubling its turnover. Taavi Madiberk, the company’s executive manager, described the market potential of Skeleton’s products as “remarkable,” estimating it to be €95 billion.

“We are seen as one of the leaders of the European battery industry and our products as a foundation for other technologies necessary for the green transition,” Madiberk said, per ERR.

 Rendering of the new Skeleton Technologies plant in Leipzig

Pushing the greener economy

Ultracapacitors and SuperBatteries represent innovative battery technologies that are particularly important in the global push towards a greener economy. Unlike conventional batteries, which store energy electrochemically, ultracapacitors store energy as an electric field between two conducting plates. This allows them to charge and discharge quickly, making them ideal for use in applications requiring rapid power delivery, such as electric vehicles (EVs) and renewable energy systems.

SuperBatteries, on the other hand, are a hybrid between batteries and ultracapacitors, providing both high energy density and rapid charging capabilities. They have the potential to revolutionize the energy storage industry, making it possible to store renewable energy more efficiently and reduce reliance on fossil fuels.

They have also been seen in action. In 2022 Skeleton partnered with Shell to offer electrification solutions for off-road mining vehicles. The consortium aims to reduce the mining industry’s carbon footprint while remaining cost-competitive against diesel-powered operations.

Skeleton supercapacitor production in Grossröhrsdorf, Germany

As the world shifts towards a low-carbon future, the demand for ultracapacitors and SuperBatteries is expected to grow rapidly. In addition to their use in EVs and renewable energy systems, they also have applications in industries such as aerospace, telecommunications and robotics.

Another push for the faster adoption of next-gen EV tech is the looming ban on fossil-fuel-powered vehicles. In February 2023, The European Parliament formally approved a law to effectively ban the sale of new petrol and diesel cars in the European Union from 2035, pushing the greener future closer. Estonia, which aims to be the world leader in per capita renewables production, is ready to back those ambitions in CleanTeach and Energy sectors.

Interested in investing in Estonia? Find out more about the country’s energy sector here and book a time via e-Consulting to speak to your personal advisor.

News & events

Need more information?

Need more information?

What is it like to run a business in Estonia? How to benefit from the e-solutions and the efficiency of our business culture? What are the opportunities in specific sectors? Who to partner up with?

The Estonian Investment Agency’s team is happy to help you via its complimentary e-Consulting service, organize online or offline follow-up events such as virtual investment visits and guide you through the fairly simple process of investing in Estonia.

Request e-consulting