Skeleton Technologies, a European manufacturer of ultracapacitor technology, has completed Round A financing of €3.9 million ($5.4 million). The funds will be used to scale up production, for product development, and for sales and marketing efforts.

Skeleton Technologies manufactures SkelCap ultracapacitor cells, which are available in ranges from 250 F to 3500 F, as well as SkelMod modules. The company’s customer list includes the European Space Agency and several Tier 1 automotive suppliers.

“Our products have four times higher power density (80 kW/L), and almost double the energy density (14 Wh/L) compared to current industry standards,” says CEO Taavi Madiberk. “We enable our customers to excel in energy efficiency and electrical performance.”

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Skeleton plans to focus its marketing efforts on the European market, especially Germany. “We are already the largest ultracapacitor manufacturer in Europe,” explains Mr Madiberk, “and this financing round will enable Skeleton Technologies to follow through with plans to build ultracapacitor manufacturing plants in Bautzen and Radeburg in Germany. The total planned investment will be €13.6 million.”

Source: Skeleton Technologies