Tallinn-based energy storage company Skeleton Technologies has secured a nine-figure strategic investment from Siemens, bringing its valuation to more than $1 billion. The investment will support the expansion of Skeleton’s US manufacturing capacity and research and development in Silicon Valley, targeting growing demand for power systems in AI data centres. The company develops high-power systems using its proprietary Curved Graphene material and supercapacitor technology to manage rapid power fluctuations in GPU clusters, which it says can deliver up to 40% energy savings and double-digit improvements in GPU performance. Skeleton plans to invest more than $200 million in US operations and R&D, including domestic cell manufacturing, to build an integrated American supply chain from cells to complete systems.
The investment builds on a longstanding relationship between Siemens and Skeleton Technologies, with the companies now focusing on power infrastructure for next-generation AI data centres. Siemens previously supported Skeleton’s expansion in 2023 and its Digital Industries division designed and automated the company’s SuperFactory in Leipzig, Germany.
Under the new partnership, the companies plan to combine Siemens’ industrial electrical infrastructure expertise with Skeleton’s high-power systems to develop and commercialise solutions for AI data centres. The collaboration will target demand from hyperscalers — large-scale cloud and computing providers — whose facilities require increasingly sophisticated power management as AI workloads expand.
AI data centres place particular demands on electricity infrastructure. GPU clusters can change their power consumption within milliseconds, creating rapid fluctuations that can affect efficiency and performance. Skeleton’s systems are designed to manage these fluctuations close to the computing workload, helping stabilise power delivery and reduce energy losses.
Skeleton says its technology can deliver energy savings of up to 40% and double-digit improvements in GPU performance. These are company-reported figures and will depend on the specific deployment and operating conditions.
“AI is scaling faster than the power infrastructure behind it. The constraint is not how many GPUs you can buy, but how much compute you can extract from every GPU and every megawatt available,” said Taavi Madiberk, CEO of Skeleton Technologies. “In AI infrastructure, supercapacitors are becoming the new semiconductors. They will determine how much performance hyperscalers can deliver from their GPUs. Our systems remove power fluctuations as a constraint, enabling more compute faster while delivering up to 40% energy savings and double-digit improvements in GPU performance. This 9-digit investment round led by Siemens gives us the industrial scale to expand manufacturing in the United States and become the only player in our segment with a full US value chain, from cells to complete systems.”
Skeleton plans to invest more than $200 million in operational expansion and research and development in Silicon Valley, working directly with hyperscalers to develop systems for AI infrastructure. Its US expansion also includes plans to establish domestic cell manufacturing, creating a fully integrated supply chain spanning energy storage cells through to complete power systems.
The strategic investment brings Skeleton’s valuation above $1 billion, although the company did not disclose the exact investment amount. It described the financing as a nine-figure round led by Siemens.
The expansion comes as electricity demand from data centres rises alongside the growth of AI computing. The International Energy Agency has projected that global data-centre electricity consumption could nearly double between 2025 and 2030, increasing pressure on operators to improve how power is delivered and used.
For Siemens, the partnership adds Skeleton’s fast-response power technology to its broader data-centre offering. For Skeleton, the investment provides a strategic partner and additional capital to scale manufacturing closer to major US customers.
“Skeleton’s portfolio perfectly complements Siemens’ comprehensive data center offering. Our combined innovation roadmap will deliver benchmark solutions for the white space of next-generation data centers, delivered by a strong manufacturing network across Europe and the USA,” said Markus Grabmeier, President of Electrical Products at Siemens AG.
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