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Supercapacitor startup Skeleton Technologies charges up €29 million in Series D extension, prepares to launch superbatteries
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Estonia s Skeleton grows D round to €70 4 mln, moves into batteries
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Electrical grid and connection equipment maker Harju Elekter has reported a fall in net profit of 57.8 percent on year to the first quarter of 2021 (Q1 2021).
The company says that these reduced profits, which stood at €297,000, resulted from rising labor costs and a sharp sharp increase in the price of raw materials, as well as falling revenues. Seasonal considerations, including winter snow, which postponed some of the company s work, also played a part.
The company told the stock exchange that: Q1 2021 was for Harju Elekter a period of preparations for the year: Developments were started to fulfill the new framework contracts in Finland and Sweden, the construction of the Lithuanian plant extension reached its final stages, and the full-time operation of the industrial robot was launched.
The contract is signed for three years, with an option for a two-year extension, AK reported.
Energo Veritas is part of electrical distribution components manufacturer Harju Elekter Group. Enefit Connect is a new subsidiary at Eesti Energia, tasked with managing electricity networks and a large part of the street lighting network in Estonia, constructing an internet network, develop an electric cars charging network and offering its clients new energy solutions based on contemporary technology, the company says. Editor: Andrew Whyte
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TALLINN, Nov 3 (Reuters) - Estonian energy storage technology maker Skeleton Technologies said on Tuesday it has raised 41.3 million euros ($48 million) from a group of investors in one of the largest cleantech investment rounds in Europe this year.
Tesla-rival Skeleton is the largest European manufacturer of ultracapacitor-based energy storage, the technology that enables the batteries of electric vehicles to fuel cars for longer.
“We are not competing with lithium-ion batteries and hydrogen fuel cells; we are complementary in improving performance and lowering cost,” Chief Executive Taavi Madiberk said in an interview.
Last year, Tesla bought Skeleton’s rival Maxwell Technologies Inc for $218 million, seeking to produce batteries that hold more energy and last longer.
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