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Siemens investment turns Skeleton Technologies into $1 B unicorn
Estonian energy‑storage firm Skeleton Technologies has raised a nine‑digit investment from Siemens, pushing its valuation above $1 B and setting the stage for a U.S. expansion of manufacturing and R&D.
14 Oct 2026 0 reads Compiled with AI
#Skeleton Technologies #Siemens
Skeleton Technologies, a Tallinn‑based developer of high‑power systems for AI infrastructure, announced a nine‑digit investment from Siemens that values the company at more than €899 million (about $1 B). The funding will accelerate the expansion of Skeleton’s U.S. manufacturing footprint and research and development activities in Silicon Valley to meet growing demand from hyperscalers for AI data‑centre power systems.
Skeleton’s core product is a family of supercapacitors built around a proprietary curved graphene material that delivers fast power, high efficiency and long cell life. The systems are designed to eliminate power fluctuations and harmonics that can limit GPU performance, allowing data‑centre operators to gain up to 40 % energy savings and double‑digit improvements in GPU compute. These capabilities are said to be essential as AI workloads drive rapid changes in power demand.
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The partnership between the two companies deepens a relationship that began when Siemens helped design and automate Skeleton’s Leipzig SuperFactory in 2023. Under the new agreement, Siemens will sell Skeleton’s high‑power storage systems exclusively to data‑centre customers, while the two firms combine their expertise to develop next‑generation AI data‑centre infrastructure.
Skeleton plans to invest more than €179 million (about $200 million) in scaling operations and research in Silicon Valley and to build domestic cell‑manufacturing facilities in the United States, creating a fully integrated U.S. value chain from cells to complete systems.
The investment comes amid a wave of European funding for AI infrastructure, with other firms raising €107.6 million, €43 million and €24.5 million to scale energy‑efficient networks and cooling technologies. Global data‑centre electricity consumption is expected to nearly double from 485 TWh in 2025 to 950 TWh by 2030, while electricity use by AI‑focused data centres is projected to triple, making power management a critical issue.