Graphene supercapacitors get European Investment Bank funding

An Estonian startup making energy storage technologies received a 15 million-euro ($16 million) loan from the European Investment Bank to finance manufacturing and research and development.

Skeleton Technologies Group makes graphene supercapacitors, which are lightweight electronic components that store and distribute high volumes of power, and can be used to boost the performance of electric vehicles. The loan’s renumeration is based on company performance and doesn’t dilute the holdings of Skeleton’s founders, according to an EIB statement.

The loan helps the company “further invest in R&D, expand production and take the commercialization step,” said EIB investment officer Julie Chevaillier in an e-mail.

Skeleton is already working with the European Space Agency, as well as a number of German carmakers, according to an e-mailed statement, which didn’t identify the manufacturers. In 2011, Tesla Motors Inc.’s founder Elon Musk said he would bet on supercapacitors over batteries to deliver a breakthrough for electric cars.

Skeleton will use part of the money to invest in an electrode mass-production facility in Dresden, Germany, according to the statement.

About BloombergNEF

BloombergNEF (BNEF), Bloomberg’s primary research service, covers clean energy, advanced transport, digital industry, innovative materials and commodities. We help corporate strategy, finance and policy professionals navigate change and generate opportunities.

Available online, on mobile and on the Terminal, BNEF is powered by Bloomberg’s global network of 19,000 employees in 176 locations, reporting 5,000 news stories a day.
 
Sign up for our free weekly newsletter →

Want to learn how we help our clients put it all together? Contact us