Skeleton Technologies, a European manufacturer of high-performance supercapacitors for transportation, industrial and grid applications, announced the completion of Series B financing of €9.8 million ($10.7 million) from a consortium led by a strategic investor in the electrical equipment sector. The round has been led by NASDAQ Tallinn noted Harju Elekter Group (HAE1T), which owns electrical equipment manufacturing plants in the Nordic-Baltic markets, and UP Invest, one of largest investment firms in the Baltic region.
Skeleton Technologies plans to use the funds for ramping up production of their graphene-based supercapacitors. In March 2015, Skeleton Technologies announced a deal with the European Space Agency to send supercapacitors into orbit for the first time in the European space programme.