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Skeleton

Early Stage Startup





Tagline

Leading developer and manufacturer of high energy ultracapacitors.



Elevator Pitch

Skeleton Technologies is the leading ultracapacitor developer and manufacturer in Europe. The company has successfully commercialized a patented technology platform which 2x higher energy density and 9x higher power density than the closest competitors, this is the single largest improvement in the industry for the last 15 years and has been approved by a strong customer base of leading European technology companies starting with European Space Agency from 2011 and ending with large system integrators and trucking fleet operators from 2014.
As an example of the competitive advantage our ultracapacitor weighing 178g has more power than the market leader's Maxwell Technologies' device weighing over 500g. The material cost counts for 70% of COGS, so by using less material and having higher energy efficiency we can provide customers with over 50% of system level cost savings.
Elon Musk, known for bold, but in many cases accurate predictions, as said to TechCrunch that “Supercapacitors not batteries will be breakthrough for EV´s…”. Leading analyist IDTechEx estimates that from 2009 the market has experienced a CAGR of 30% and it is expected to continue reaching over 4 Bn USD by 2022.
The company is well-positioned to take advantage of the opportunity with a strong product-to-market fit and has a clear revenue ramp-up strategy with industry focus on heavy transportation and industrial equipment (incl. power grid) applications and regional focus in Europe. Revenue ramp-up is based on quantities and pricing from existing pilot customers, main aim is to develop them to key customer accounts with larger volumes.
The companies value chain strategy differs from Maxwell Technologies, Ioxus and being the first vertically integrated ultracapacitor-based energy storage solution provider from materials to turn-key solutions with a lean outsourced production model.
Skeleton Technologies is led by an energetic and experienced management team with energy storage device manufacturing scale-up experience and supported by a wide industry network.
Skeleton has 51 people, including 9 PhD and two locations in Viimsi, Estonia and Bautzen, Germany. Skeleton has raised a total of 14.3 mEUR of capital from UP Invest, one of the largest investment companies in the Baltics and from NASDAQ Tallinn listed electrical equipment manufacturer Harju Elekter Group.
In Round C company is looking for 8 mEUR additional equity capital (a total round of 12 mEUR of which 4 has been already committed) and expects to close by Q2 2016. The financing will be used for sales and marketing and lean CAPEX production ramp-up and will be the last financing round before the exit.
The exit is planned in 2020 as a trade sale or an IPO, with five main categories of strategic interest with specific synergies, conventional capacitor/Li-ion battery manufacturers, Power electronics companies, chemicals manufacturers, automotive companies’ manufacturers and Tesla Motors – if Tesla wants to dominate the ultra fast-response of the grid storage market and Mr. Musk´s back his predictions then Skeleton Technologies is the most viable purchase target.

Product

Skeleton Technologies provides ultracapacitor cells, modules with highest energy and power densities, Engine Start Modules and modules which out-perform closest competitors by providing up to 50% lower cost on a system level.



Why we are ecofriendly

Ultracapacitors provide up to 40% energy savings in transportation (locomotive, hybrid buses, automotive) and industrial equipment by recapturing the braking energy and using it while accelerating (load lifting). This allows to significantly reduce CO2 emissions and meet or exceed regulative standards. Furthermore, ultracapacitors allow for lower cost and easier implementation of wind and solar energy to the power grid by bridging smoothing the energy output in the ultra fast-response market.

Latest News

Raised Round B financing of 9,8 mEUR, more background from ZDNet
www.zdnet.com/article/skele...

Customer announcement: KERS system launch with Adgero
www.theengineer.co.uk/autom...

Customer announcement: First hybrid electric multi-purpose UGV (unmanned ground vehicle) with Milrem,
www.defenseworld.net/news/1...

Engine Start Module launch for trucking industry (moving higher up the value chain with proprietary ultaracapacitor management and power electronics system), currently in a strong sales mode for retro-fit market.
www.transportengineer.org.u...

Cylindrical cell product family launch with strong traction from who´s who in companies target segments, good write-up by
www.businessgreen.com/bg/ne...

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Version History

2015-09-24 05:19:07 - changed fundraising to 'Raising 8.0 M EUR for round C'

2015-09-22 05:34:58 - changed people to 'Taavi Madiberk - CEO Oliver Ahlberg - CIO Dr. Volker Dudek - CTO Dr. Kai Vuorilehto - VP of Production Mr. James P....'

2015-09-21 12:17:52 - changed pitch to 'Skeleton Technologies is the leading ultracapacitor developer and manufacturer in Europe. The company has...'

2015-09-21 12:17:36 - changed pitch to 'Skeleton Technologies is the leading ultracapacitor developer and manufacturer in Europe. The company has...'

2015-09-21 10:18:18 - changed pitch to 'Skeleton Technologies is the leading ultracapacitor developer and manufacturer in Europe. The company has...'



Website



Fundraising

Raising 8.0 M EUR for round C

Capital Raised

14.3 M EUR


Employees

50+

Investors

UP Invest
Harju Elekter Group







Country of Origin

Estonia

Founded

2009


Facebook


Team

Indrek Kaldoja - CFO

Taavi Madiberk - CEO
Oliver Ahlberg - CIO
Dr. Volker Dudek - CTO
Dr. Kai Vuorilehto - VP of Production
Mr. James P. McDougall - Non-Executive Director

Contact Person

Taavi Madiberk