Skeleton Technologies

Skeleton was established in 2009 by Oliver Ahlberg, Taavi Madiberk, Dr. Jaan Leis, and Dr. Anti Perkson when they began developing graphene-based supercapacitors. The company now has over 300 employees throughout its various locations. Skeleton operates in Germany and Estonia, with headquarters, IT and module development in Tallinn. In Germany, the company operates a materials development facility for curved graphene in Bitterfeld-Wolfen, as well as a supercapacitor factory{{Cite web |last=Zedníček |first=Tomáš |date=2017-03-30 |title=Skeleton Technologies Opens Largest Ultracapacitor Factory in Europe |url=https://passive-components.eu/skeleton-technologies-opens-largest-ultracapacitor-factory-in-europe/ |access-date=2022-11-04 |website=Passive Components Blog |language=en-US}} in Großröhrsdorf. Skeleton is also building an additional supercapacitor factory near Leipzig in partnership with Siemens, which is estimated to become the world's largest supercapacitor production site.{{Cite news |date=2022-07-19 |title=Estonia's Skeleton to build Siemens-designed supercapacitor factory in Germany |language=en |work=Reuters |url=https://www.reuters.com/business/energy/estonias-skeleton-build-siemens-designed-supercapacitor-factory-germany-2022-07-19/ |access-date=2022-11-04}}

Currently, Skeleton is a supplier to a number of global OEMs in automotive, transportation, grid, and further industrial applications such as Siemens,{{Cite web |date=2022-07-25 |title=Skeleton and Siemens agree on strategic partnership for the production of supercapacitors |url=https://www.automotiveworld.com/news-releases/skeleton-and-siemens-agree-on-strategic-partnership-for-the-production-of-supercapacitors/ |access-date=2022-11-04 |website=Automotive World |language=en-GB}} Škoda,{{Cite web |last=Kütt |first=Ave |date=2019-08-26 |title=Skeleton’s ultracaps to power Škoda trams in Germany |url=https://investinestonia.com/skeletons-ultracaps-to-power-skoda-trams-in-germany/ |access-date=2022-11-04 |website=Invest in Estonia |language=en-US}} and Hitachi.{{Cite web |title=Skeleton Technologies, Siemens to Build World’s Largest Supercapacitor Plant - News |url=https://eepower.com/news/skeleton-technologies-siemens-to-build-worlds-largest-supercapacitor-plant/ |access-date=2022-11-04 |website=eepower.com |language=en}} They are also a member of the European Battery Alliance,{{Cite web |title=NETWORK |url=https://www.eba250.com/about-eba250/network/ |access-date=2022-11-04 |website=European Battery Alliance |language=en-GB}} an industry group with over 750 members focused on developing a European battery value chain. The company has received media attention in outlets such as Bloomberg News, The Economist, Sifted, and Financial Times for their German production,{{Cite web |last=Tammik |first=Ott |date=2022-01-27 |title=Estonian Battery Maker Skeleton Gets Cash to Ramp Up German Production |url=https://www.bloomberg.com/news/articles/2022-01-27/estonian-battery-maker-gets-cash-to-ramp-up-german-production?srnd=markets-vp |access-date=2022-11-04 |website=Bloomberg}} battery expertise,{{Cite news |title=How to hybridise batteries and supercapacitors |work=The Economist |url=https://www.economist.com/science-and-technology/2020/11/07/how-to-hybridise-batteries-and-supercapacitors |access-date=2022-11-04 |issn=0013-0613}} and development of novel technologies.{{Cite web |title=The Estonian superbattery that is beating Tesla {{!}} Sifted |url=https://sifted.eu/articles/estonian-superbattery-tesla/ |access-date=2022-11-04 |website=sifted.eu}}{{Cite news |date=2020-11-11 |title=Start-ups aim to unlock full potential of ‘green’ tech |work=Financial Times |url=https://www.ft.com/content/2e5bb664-5e2d-4dbd-b972-af94b550c839 |access-date=2022-11-04}}

Skeleton is a Global Cleantech 100 company.{{Cite web |title=i3 Connect - Insight and Data Across the Global Clean Technology Marketplace |url=https://i3connect.com/gct100/the-list |access-date=2022-11-02 |website=i3connect.com}}

Skeleton Technologies was created in 2009 for the purpose of developing graphene-based supercapacitors. In 2011, the company started the development of SpaceCap, a capacitor based on Skeleton's proprietary carbide-derived carbon material, as a part of a commission from the European Space Agency.{{Cite web |last=Zedníček |first=Tomáš |date=2018-12-18 |title=Qualification of Commercial Off-The- Shelf Supercapacitors for Space Applications |url=https://epci.eu/qualification-of-commercial-off-the-shelf-supercapacitors-for-space-applications/ |access-date=2022-11-04 |website=European Passive Components Institute |language=en-US}} In 2012, Skeleton launched its first commercial product series.

In 2013, Skeleton Technologies was incorporated in Germany for the first time as a GmbH, the German equivalent of a private limited company or limited liability company. That same year, the company received its first financing tranche of 2.2 million euros in Round A financing.{{Cite web |title=Ultracapacitor Manufacturer Skeleton Technologies Raises €3.9 Million (US$5.2 Million) in Round A Financing |url=https://www.pr.com/press-release/573260 |access-date=2022-11-04 |website=PR.com |language=en}}

In 2014, the company opened and began operating out of its first manufacturing facility in Viimsi, Estonia. They also participated in the Norway Grants "Green ICT" program, a cooperation programme between Estonia and Norway intended to facilitate sustainable development and green technology innovation, using the grant money to continue the development of their ultracapacitor technologies.{{Cite web |last=Estonia |first=Life in |date=2014-09-25 |title=A small Estonian company aims to conquer the world |url=https://estonianworld.com/technology/small-estonian-company-aims-conquer-world/ |access-date=2022-11-04 |website=Estonian World |language=en-GB}}

At the Ecosummit 2015 in London, Skeleton Technologies was presented with the 'best startup' award as well as 1.5K EUR in prize money.{{Cite web |title=ECO15 London Award - ECOSUMMIT - Smart Green Business Network and Conference |url=https://ecosummit.net/articles/tag/eco15-london-award |access-date=2022-11-04 |language=en-US}} Together with Adgero SARL, in 2015 they introduced a supercapacitor-based kinetic energy recovery system for trucks, designed to reduce fuel consumption.{{Cite web |title=Skeleton Technologies and Adgero introduce ultracap-based KERS system for truck trailers {{!}} E-Hike |url=https://e-hike.net/en/content/skeleton-technologies-and-adgero-introduce-ultracap-based-kers-system-truck-trailers |access-date=2022-11-04 |website=e-hike.net}}

In 2017, Skeleton ISO 9001 and 14001 began to scale up production of its ISO 9001 and 14001 modules at its facility in Großröhrsdorf, Germany. At the tenth annual Bloomberg New Energy Finance Summit in New York City, the company was honoured as one of ten 2017 New Energy Pioneers.{{Cite web |title=BNEF Pioneers 2023 {{!}} BloombergNEF {{!}} Bloomberg Finance LP |url=https://about.bnef.com/bnefpioneers/ |access-date=2022-11-04 |website=BloombergNEF |language=en-US}}

Beginning in 2018, the company expanded its product portfolio and began receiving orders from firms in the automotive, logistics, and aerospace industries.{{Cite web |last=International |first=Batteries |date=2018-07-19 |title=Skeleton Technologies moves manufacturing to Dresden, Germany |url=https://www.batteriesinternational.com/2018/07/19/skeleton-technologies-moves-manufacturing-to-dresden-germany/ |access-date=2022-11-04 |website=Batteries International |language=en-GB}} Companies like Skoda Transportation.https://eit.europa.eu/news-events/news/eit-innoenergy-supported-skeleton-will-power-skoda-trams-mannheim

By 2019, Skeleton's revenue growth tripled, and the company received more than 100 million euros in order intake. After a stringent testing course, the company's SkelCap SCA series supercapacitor cells were given 810A certification from the safety organisation UL, certifying that the cells are safe for use in automotive applications and uninterruptible power supplies.{{Cite web |date=2019-07-26 |title=UL Certification For Skeleton Technologies’ Ultracapacitors |url=https://www.dieselprogress.com/news/ul-certification-for-skeleton-technologies-ultracapacitors/5028072.article |access-date=2022-11-04 |website=Diesel Progress |language=en}}

Following a Series D financing round in 2020, Skeleton raised an additional 41.3 million euros.{{Cite web |title=Skeleton Technologies {{!}} Graphene-Info |url=https://www.graphene-info.com/skeleton-technologies |access-date=2022-11-04 |website=www.graphene-info.com}} and announces signing of several customer deals, including with [http://Medcomhttps://www.skeletontech.com/news/skeleton-technologies-signs-a-large-scale-deal-with-medcom-to-supply-ultracapacitor-energy-storage-to-warsaw-tram Medcom] for the Warsaw tram.

In 2021, Skeleton Technologies was awarded the SET4FUTURE Innovation Award, honouring organisations that create innovative products and solutions for future railway technology and contribute to traffic reduction.{{Cite web |title=Die Preisträger des SET4FUTURE Innovation Award |url=https://rail-s.de/set4future-innovation-award/ |access-date=2022-11-04 |language=de}} The company also received IATF 16949 certification, an international quality standard for the automotive industry, that year.{{Cite web |title=Skeleton Technologies Receives IATF 16949 Certification, the Stringent Automotive Quality Standard |url=http://www.skeletontech.com/news/skeleton-technologies-receives-iatf-16949-certification-the-stringent-automotive-quality-standard |access-date=2022-11-04 |website=www.skeletontech.com |language=en}}

In 2022, Skeleton announced the investment of 220 million euros to begin building a new factory near Leipzig, in partnership with Siemens.{{Cite web |title=Advanced Batteries & Energy Storage Research by IDTechEx |url=https://www.advancedbatteriesresearch.com/ |access-date=2022-11-04 |website=Advanced Batteries & Energy Storage Research |language=en}} The factory will be located in Markranstädt and is Skeleton's second manufacturing site in the state of Saxony.

[https://sifted.eu/articles/estonias-skeleton-technologies-raises-another-e108m-to-scale-fast-charging-battery-tech Skeleton raises 108 million euros from Siemens, Marubeni, and CBMM] to continue the scale-up of its [https://www.electrive.com/2022/07/19/skeleton-technologies-to-build-supercapacitor-plant-near-leipzig/ Leipzig Superfactory] for supercapacitor production. In 2023, Skeleton announced its purchase of the former European Batteries manufacturing facility in Varkaus, Finland, for pilot production and scale-up of its SuperBattery technology.https://news.err.ee/1608987971/estonian-ultra-capacitor-firm-skeleton-technologies-expanding-to-finland

In July 2024, Honda and Indycar announce collaboration on a new hybrid energy recovery system, utilizing Skeleton's supercapacitors.https://hondanews.com/en-US/honda-racing/releases/release-5d7c4d59cde18d8d430ae3254a051a73-honda-indycar-collaborate-on-new-hybrid-energy-recovery-system-debuting-at-honda-indy-200-at-mid-ohio In November 2024, Skeleton opens a new R&D unit in Lappeenranta, Finland, at LUT University.https://www.skeletontech.com/news/skeleton-technologies-strengthens-growth-in-lappeenranta-europes-greenest-city

In February 2025, Skeleton announced it has joined the Sustainable AI Coalition,https://www.skeletontech.com/news/skeleton-joins-nvidia-and-mistral-in-sustainable-ai-coalition unveiled at the [https://www.elysee.fr/en/sommet-pour-l-action-sur-l-ia Paris AI Action Summit].

Skeleton produces supercapacitors to improve fuel efficiency and support power storage and discharge in electric vehicles. In automotive applications, supercapacitors can be connected in parallel with batteries to increase both energy density and power density and improve the longevity of the energy storage system.{{Cite web |date=2022-06-30 |title=Unlocking New Possibilities Through Innovative Energy Storage. The Role of Ultracapacitors in the Energy Transition |url=https://eit.europa.eu/library/unlocking-new-possibilities-through-innovative-energy-storage-role-ultracapacitors-energy |access-date=2022-11-04 |website=European Institute of Innovation & Technology (EIT) |language=en}}

Skeleton offers supercapacitor-based energy storage systems for wind power applications, which help control wind power plant output and provide ancillary services to the power system.{{Cite journal |last=Abbey |first=Chad |last2=Chahwan |first2=John |last3=Joos |first3=Geza |date=2007-10-01 |title=Energy storage and management in wind turbine generator systems |url=https://www.researchgate.net/publication/298905136_Energy_storage_and_management_in_wind_turbine_generator_systems |journal=EPE Journal |volume=17 |via=ResearchGate}} As an energy storage medium, supercapacitors can deploy electricity instantaneously to manage demand surges and power quality issues such as flickers and interruption events.{{Cite web |last=UCL |date=2022-03-01 |title=Supercapacitors |url=https://www.ucl.ac.uk/chemical-engineering/supercapacitors |access-date=2022-11-04 |website=UCL Department of Chemical Engineering |language=en}} In heavy transport and grid applications, Skeleton works with the Italian electronics wholesaler DimacRed S.p.A. for distribution and technical cooperation.{{Cite web |title=[PRESS RELEASE] Skeleton Technologies and DIMAC RED S.p.A. Signed a Contract to Scale Up Ultracapacitor Distribution |url=http://www.skeletontech.com/news/skeleton-technologies-and-dimac-red-s.p.a.-signed-a-contract-to-scale-up-ultracapacitor-distribution |access-date=2022-11-04 |website=www.skeletontech.com |language=en}}

Skeleton has developed solutions for cranes and elevators as well as technologies for the marine, medical, and oil & gas sectors. For Transiidikeskus, one of the largest container terminals in the Baltic Region, the company developed a crane equipped with a graphene supercapacitor-powered kinetic energy recovery system (KERS), reducing the fuel consumption and {{CO2}} emissions by 34%.{{Cite web |title=o-mag {{!}} Services for Industry & Trade |url=https://www.o-mag.eu/success?page=3)(https://www.skeletontech.com/news/press-release-graphene-ultracapacitors-deliver-34-fuel-savings-in-one-of-the-largest-container-terminals-in-the-baltic-sea) |access-date=2022-11-04 |website=www.o-mag.eu}} Skeleton has also developed a KERS system for elevators that is able to reduce energy consumption by 50% or more by storing and reusing energy generated during operation.{{Cite web |title=Elevator energy consumption cut in half |url=https://www.electronicspecifier.com/news/analysis/elevator-energy-consumption-cut-in-half |access-date=2022-11-04 |website=www.electronicspecifier.com |language=en}}{{Cite web |title=Case Study: Ultracapacitors Enable up to 70% Energy Savings in Elevators |url=http://www.skeletontech.com/skeleton-blog/case-study-ultracapacitors-enable-up-to-70-energy-savings-in-elevators |access-date=2022-11-04 |website=www.skeletontech.com |language=en}}

In addition to cars, Skeleton Technologies provides supercapacitor-based solutions for rail and trams, trucks, bus, and heavy equipment.

Skeleton Technologies and Class8 Energy, a Canadian equipment distributor, have signed an €11.6 million contract to supply supercapacitor modules to the North American trucking and retail industries. The modules will reduce cold-cranking time by a factor of 2 and offer higher cranking power than a battery, without toxic materials.{{Cite web |last=Cousineau |first=Matt |date=2022-08-18 |title=Skeleton Technologies to supply Class8 Energy with supercapacitor modules for commercial vehicles |url=https://chargedevs.com/newswire/skeleton-technologies-to-supply-class8-energy-with-supercapacitor-modules-for-commercial-vehicles/ |access-date=2022-11-07 |website=Charged EVs |language=en-US}}

The company is a supplier for several tram producers in major European cities. Skeleton has a contract with Škoda Electric, a branch of the auto company which produces electric motors for rail applications, to provide supercapacitors for Mannheim's tram system.{{Cite web |title=Skeleton's ultracapacitors to power Škoda trams in Mannheim |url=https://www.innoenergy.com/news-events/skeletons-ultracapacitors-to-power-%C5%A1koda-trams-in-mannheim/ |access-date=2022-11-07 |website=www.innoenergy.com}} They also have a large-scale contract with Medcom, an electric traction producer, to provide supercapacitors for the Warsaw tram network.{{Cite web |date=2020-01-27 |title=Skeleton Technologies to provide ultracapacitor for Warsaw tram system |url=https://www.railway-technology.com/news/skeleton-technologies-warsaw/ |access-date=2022-11-07 |website=Railway Technology |language=en-US}} For Škoda and Medcom, the SkelMod 51V module has enabled energy savings of up to 30% with onboard kinetic energy recovery, an application where braking energy is harnessed by the supercapacitor module bank and used for acceleration.{{Cite web |title=Trusted by Škoda and Medcom among others - Skeleton's popular SkelMod 51V module now rail-certified |url=http://www.skeletontech.com/news/trusted-by-škoda-and-medcom-among-others-skeletons-popular-skelmod-51v-module-now-rail-certified |access-date=2022-11-07 |website=www.skeletontech.com |language=en}}

Polish electrical switchgear manufacturer ZPUE and Skeleton Technologies have signed a letter of intent, stating that Skeleton will provide supercapacitors for rail wayside storage at 200 MW per year from 2023 to 2025. These storage systems, located inside the station rather than in the train itself, capture energy released as the train brakes and use it to power acceleration. Skeleton will also supply 160 MW of storage for grid stability applications between 2023 and 2025. The cooperation represents more than 30 million euros of commercial value.{{Cite web |title=Evertiq - Skeleton targets the Polish market – teams up with ZPUE |url=https://evertiq.com/design/51875 |access-date=2022-11-07 |website=evertiq.com |language=en}} As with tram applications, Skeleton's technologies have been shown to improve train efficiency by increasing energy savings to reduce costs and {{CO2}} emissions.{{Cite web |title=Skeleton Technologies |url=https://railway-news.com/suppliers/skeleton-technologies/ |access-date=2022-11-07 |website=Railway-News |language=en-gb}} The implementation of supercapacitor technology provides effective voltage stabilization for rail systems, improves propulsion performance for light rail vehicles, and advances locomotive engine starting technologies.{{Cite web |title=Avnet: Quality Electronic Components & Services |url=https://www.avnet.com/wps/portal/abacus/resources/article/supercapacitors-making-transport-more-efficient/ |access-date=2022-11-07 |website=www.avnet.com}}

Skeleton's SkelCap supercapacitor series provides up to four times higher power density{{Cite web |date=2021-07-01 |title=Estonia-based ultracapacitor manufacturer Skeleton Technologies raises €29M in Series D extension; "now moving to "Superbatteries" {{!}} Silicon Canals |url=https://siliconcanals.com/crowdfunding/skeleton-technologies-raises-29m/ |access-date=2022-11-07 |language=en-US}} as well as lower equivalent series resistance{{Cite web |title=Skeleton Beats Competitors in US Office of Naval Research Ultracapacitor Test |url=http://www.skeletontech.com/news/skeleton-beats-competitors-in-us-office-of-naval-research-ultracapacitor-test |access-date=2022-11-07 |website=www.skeletontech.com |language=en}} when compared to other supercapacitor cells, leading to improved application lifetime. They have a long lifetime of over 1 million charge cycles or 15+ years{{Cite web |title=SKELCAP ULTRACAPACITORS |url=https://product.statnano.com/product/12067/skelcap-ultracapacitors |access-date=2022-11-07 |website=product.statnano.com |language=en}} and near-total efficiency in temperatures ranging from −40 to 65 degrees Celsius.{{Cite web |last=Söderbom |first=Johan |date=2020-12-01 |title=The Role of Ultracapacitors in the Energy Transition |url=https://eit.europa.eu/sites/default/files/eitinnoenergy-frostsullivan_ultracapacitors_whitepaper_dec2020.pdf}}

Skeleton Technologies has secured funding from a variety of sources including:

• €2.5 million from the European Innovation Council to double the capacity of their graphene supercapacitors as part of the SKLCARBONP2 project.{{Cite web |title=Advanced ultracapacitors power a revolution in energy storage {{!}} Research and Innovation |url=https://ec.europa.eu/research-and-innovation/en/projects/success-stories/all/advanced-ultracapacitors-power-revolution-energy-storage |access-date=2022-11-07 |website=ec.europa.eu |language=en}}
• €4 million in investments from KIC InnoEnergy, an investment company dedicated to promoting sustainable innovation and entrepreneurship in Europe's energy industry.{{Cite web |title=KIC InnoEnergy backs Skeleton’s Graphene Ultracaps with €4m - News |url=https://eepower.com/news/kic-innoenergy-backs-skeletons-graphene-ultracaps-with-4m/ |access-date=2022-11-07 |website=eepower.com |language=en}}
• €15 million in ‘quasi-equity’ financing from the European Investment Bank.{{Cite web |title=The European Commission’s priorities |url=https://ec.europa.eu/info/strategy/priorities-2019-2024_en |access-date=2022-11-07 |website=European Commission - European Commission |language=en}}{{Cite web |title=Ultracapacitor maker Skeleton gets EUR-15m EIB financing |url=https://renewablesnow.com/news/ultracapacitor-maker-skeleton-gets-eur-15m-eib-financing-557775/ |access-date=2022-11-07 |website=Renewablesnow.com |language=en}}
• €13 million in new investment from FirstFloor Capital, a Malaysian venture capital investment firm specialising in funding high-growth technology companies.{{Cite web |last=Novac |first=Dragos |title=Skeleton Technologies secured €13M from FirstFloor Capital, Harju Elekter Group et al |url=https://nordic9.com/news/skeleton-technologies-secured-13m-from-firstfloor-capital-harju-elekter-group-et-al-news8881045987/ |access-date=2022-11-07 |website=Nordic 9 |language=en}} This investment brought Skeleton's total financing to €26.7 million in Round C.{{Cite web |last=andero |date=2016-08-03 |title=Skeleton Technologies receives € 13 million of investment |url=https://investinestonia.com/skeleton-technologies-receives-e-13-million-of-investment/ |access-date=2022-11-07 |website=Invest in Estonia |language=en-US}}
• €51 million from Germany's Federal Ministry for Economic Affairs and Climate Action (BMWi) and the Free State of Saxony to execute their development roadmap as part of the European Battery Innovation IPCEI.{{Cite web |last=Barkan |first=Terrance |date=2021-03-16 |title=Skeleton Technologies Receives an Additional €51 Million Funding to Scale up Ultracapacitors Production |url=https://www.thegraphenecouncil.org/blogpost/1501180/367433/Skeleton-Technologies-receives-an-additional-51-million-funding-to-scale-up-ultracapacitors-production}}
• €70.4 million in total Round D financing.{{Cite web |last=Lombardo |first=Tom |date=2021-07-07 |title=Skeleton Technologies raises €70 million to develop EV batteries and supercapacitors |url=https://chargedevs.com/newswire/skeleton-technologies-raises-e70-million-to-develop-ev-batteries-and-supercapacitors/ |access-date=2022-11-07 |website=Charged EVs |language=en-US}}
• €108 million from Siemens, Marubeni Corporation and CBMM to scale production of their batteries and supercapacitors.{{Cite news |last=Wanat |first=Zosia |date=2023-10-13 |title=Estonia’s Skeleton Technologies raises another €108m to scale fast-charging battery tech |work=sifted |url=https://sifted.eu/articles/estonias-skeleton-technologies-raises-another-e108m-to-scale-fast-charging-battery-tech}}{{Cite web |date=2023-10-13 |title=Skeleton Technologies raises €108M in funding round led by Siemens and Marubeni |url=https://tech.eu/2023/10/13/skeleton-technologies-raises-eur108-million-in-funding-round-led-by-siemens-and-marubeni/ |access-date=2023-10-19 |website=Tech.eu |language=en-GB}}

In total, Skeleton Technologies have received over 300 million euros in financing. Additional investors include Harju Elekter,{{Cite web |date=2021-07-01 |title=AS Harju Elekter to invest in Skeleton Technologies Group OÜ |url=https://harjuelekter.com/as-harju-elekter-to-invest-in-skeleton-technologies-group-ou/ |access-date=2022-11-07 |website=Harju Elekter |language=en-US}} Up Invest,{{Cite web |last=Pullen |first=Ellie |date=2014-08-04 |title=Up Invest leads €3.9m Skeleton Tech round |url=https://www.unquote.com/dach/official-record/69332/up-invest-leads-eur39m-skeleton-tech-round |website=Unquote}} MM Grupp,{{Cite web |date=2021-07-01 |title=Skeleton Technologies brings in additional capital to close a total of €70 million equity in Round D financing |url=https://batteryindustry.tech/skeleton-technologies-brings-in-additional-capital-to-close-a-total-of-e70-million-equity-in-round-d-financing/ |access-date=2022-11-07 |website=BatteryIndustry.tech |language=en-GB}} CTEK,{{Cite web |title=Skeleton Technologies closes €37.6 million D3 financing round {{!}} Graphene-Info |url=https://www.graphene-info.com/skeleton-technologies-closes-376-million-d3-financing-round |access-date=2022-11-07 |website=www.graphene-info.com}} and Wise.{{Cite web |title=Wise's Taavet Hinrikus backs Skeleton Technologies ultracapacitors {{!}} Sifted |url=https://sifted.eu/articles/skeleton-car-battery-taavet-hinrikus/ |access-date=2022-11-07 |website=sifted.eu}}

Skeleton Technologies CEO and co-founder Taavi Madiberk initiated discussions to establish a €20 million support fund from the European Innovation Council for Ukrainian deep tech startups after the 2022 Russian invasion of Ukraine.{{Cite web |title=The EIC will allocate 20 M EUR to support Ukrainian deeptech start-ups & their integration into European ecosystems |url=http://www.skeletontech.com/news/the-eic-will-allocate-20-m-eur-to-support-ukrainian-deeptech-start-ups-their-integration-into-european-ecosystems |access-date=2022-11-07 |website=www.skeletontech.com |language=en}} At a press conference in Brussels, Commissioner for Innovation and Research Mariya Gabriel announced her support for the fund, which targets innovative tech companies that are established in Ukraine as well as companies that have relocated to EU member states or Horizon Europe-associated countries following the start of the war.{{Cite web |title=European Innovation Council launches €20M fund for Ukrainian start-ups |url=https://sciencebusiness.net/widening/news/european-innovation-council-launches-eu20m-fund-ukrainian-start-ups |access-date=2022-11-07 |website=Science{{!}}Business |language=en}} The proposal focuses on strengthening the Ukrainian tech ecosystem and supporting innovative solutions for rebuilding.

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