Competitor To Tesla’s Ultracapacitor Company Raises $48M After Hinting At IPO

Photo courtesy Skeleton Technologies

Skeleton Technologies is not a publicly traded company, but it’s one to keep an eye on as it traverses territory partly claimed by Tesla Inc TSLA 2.25%.

Next-Gen Battery Business: The Estonian maker of ultracapacitors, also called supercapacitors, completed a Series D round of funding this month, raising $48.1 million. It raised a combined $38.7 million in earlier rounds. The company was founded in 2009 and counts the European Investment Bank among its investors.

The company’s website lists as competitors: St. Louis-based EaglePicher Technologies; Pennsylvania-based C&D Technologies; Germany-based IBC Solar; and, tantalizingly, Maxwell Technologies, which was bought by Tesla in 2019. …

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