Harju Elekter Group to Divest Part of Its Holding in Skeleton Technologies Group OÜ
The investment gives Siemens exclusive rights to sell Skeleton’s high-power storage systems to data centers as AI-driven power demand strains grids.
- On Wednesday, Siemens bought into Estonian energy storage maker Skeleton Technologies in a deal valuing the firm at more than $1 billion, closing this month for more than $100 million.
- The firms previously collaborated on a €220 million plant near Leipzig, Germany, where Siemens helped build an automated production line; Skeleton was founded 17 years ago.
- Skeleton's technology helps data centers smooth power use and reduce waste, allowing up to 40% more compute if power management is optimized and the company works with major cloud providers.
- Siemens tech chief Peter Koerte said the company can now exclusively sell Skeleton's storage systems to data centers as a full package, addressing rising power demand.
- Skeleton plans to spend more than $200 million on growth, including building factories in the US, and the company is aiming for a stock market listing next year.
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14 Articles
German technology group Siemens will invest at least one hundred million euros in Skeleton, increasing Skeleton's value to one billion euros.
Skeleton Technologies valued at more than USD1 billion after Siemens-led investment
Estonian energy-storage company Skeleton Technologies has reached a valuation of more than USD1 billion after a strategic investment led by Siemens, as it prepares to expand manufacturing and research in the United States to serve the fast-growing AI data-centre market. The companies did not disclose the investment’s value or the terms of the deal. Skeleton chief executive Taavi Madiberk described it as a nine-figure round. The investment will s…
Skeleton Technologies, an Estonian company that develops supercapacitors and power systems for artificial intelligence (AI) data centers, has raised at least €100 million from German energy giant Siemens. The investment has raised its valuation to over $1 billion, giving it unicorn status.
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