Skeleton Technologies raises Siemens-led round to expand US production
Supercapacitor maker Skeleton Technologies has raised a new investment round led by Siemens, valuing the company at more than USD 1 billion. The money will mainly go towards building up manufacturing in the US, including its own cell production, for power systems in AI data centres.
The round is a “nine-digit” sum, meaning at least USD 100 million, but the exact amount has not been disclosed, according to a press release from Skeleton. The company plans to invest more than USD 200 million in scaling up operations and R&D in Silicon Valley, working directly with hyperscalers. The US expansion includes plans for domestic cell manufacturing, giving Skeleton a full US value chain from cells to complete systems.
The background is the way AI workloads use power. GPU clusters can switch between power states within milliseconds, causing rapid load swings, peaks and harmonics. Skeleton’s systems combine supercapacitor cells based on its own Curved Graphene material with power electronics and controls, to even out those fluctuations close to the workload. According to the company, this can deliver up to 40% energy savings and double-digit improvements in GPU performance.
“This 9-digit investment round led by Siemens gives us the industrial scale to expand manufacturing in the United States and become the only player in our segment with a full US value chain, from cells to complete systems,” said Taavi Madiberk, CEO of Skeleton Technologies.
The investment deepens an existing relationship. Siemens supported Skeleton’s expansion in 2023, and Siemens Digital Industries designed and automated the company’s SuperFactory in Leipzig, Germany. The two companies will now develop and commercialise products for AI data centres together, combining Siemens’ electrical infrastructure with Skeleton’s fast-response power systems.
“Skeleton’s portfolio perfectly complements Siemens’ comprehensive data center offering,” said Markus Grabmeier, President of Electrical Products at Siemens AG.
Skeleton has not disclosed the size of the round, how large a stake Siemens is taking, or where and when the US cell production will start.
