Harju Elekter Group to Divest Part of Its Holding in Skeleton Technologies Group OÜ
The investment gives Siemens exclusive rights to sell Skeleton’s high-power storage systems to data centers as AI-driven power demand strains grids.
- On Wednesday, Siemens bought into Estonian energy storage maker Skeleton Technologies in a deal valuing the firm at more than $1 billion, closing this month for more than $100 million.
- The firms previously collaborated on a €220 million plant near Leipzig, Germany, where Siemens helped build an automated production line; Skeleton was founded 17 years ago.
- Skeleton's technology helps data centers smooth power use and reduce waste, allowing up to 40% more compute if power management is optimized and the company works with major cloud providers.
- Siemens tech chief Peter Koerte said the company can now exclusively sell Skeleton's storage systems to data centers as a full package, addressing rising power demand.
- Skeleton plans to spend more than $200 million on growth, including building factories in the US, and the company is aiming for a stock market listing next year.
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New unicorn alert! Estonia’s Skeleton Technologies lands multi-million funding to expand AI infrastructure in the US
Tallinn-based Skeleton Technologies, a developer high-power systems for AI infrastructure, today announced a “9-digit investment” from Siemens, bringing Skeleton’s valuation to more than €899 million ($1 billion). The investment will primarily accelerate the expansion of Skeleton’s US manufacturing footprint and R&D activities in Silicon Valley to meet growing demand from hyperscalers for AI data-center power […]
Skeleton Technologies' value just rose above a billion euros. Artificial intelligence infrastructure systems manufacturer Skeleton Technologies has secured a strategic investment led by German industrial and technology group Siemens. Following the deal, Skeleton's value is now over one billion euros. Startup, engineering, industrial automation, Artificial Intelligence, Automation, Product Development, Environment, Energy, USA, Information Techno…
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Tech.euSkeleton Technologies surpasses $1B valuation with Siemens backing for US expansion
Skeleton Technologies today announced a strategic investment from Siemens, bringing Skeleton’s valuation to more than $1 billion. The investment will primarily accelerate the expansion of Skeleton’s US manufacturing footprint and R&D activities in Silicon Valley to meet growing demand from…
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