Skeleton Technologies has announced a strategic investment from Siemens, bringing the company’s valuation to more than $1 billion.
The investment will help Skeleton expand its manufacturing operations in the US and increase its research and development activities in Silicon Valley. The company aims to meet growing demand from large technology companies for power systems used in AI data centres.
“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 per cent 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’s portfolio perfectly complements Siemens’ comprehensive data centre offering. Our combined innovation roadmap will deliver benchmark solutions for the white space of next-generation data centres, delivered by a strong manufacturing network across Europe and the USA,” said Markus Grabmeier, President of Electrical Products at Siemens AG.
The investment strengthens the long-standing partnership between Siemens and Skeleton Technologies. Their new collaboration will focus on AI data centre infrastructure and meeting growing demand from large technology companies in the United States.
Siemens supported Skeleton’s expansion in 2023 and helped design and automate the company’s Leipzig SuperFactory in Germany through Siemens Digital Industries. Under the new partnership, Siemens will contribute its expertise in industrial electrical infrastructure, while Skeleton will provide its fast-response power systems. Together, the companies aim to develop and bring new power solutions to next-generation AI data centres.
The partnership will help meet the power needs of large data centre operators, from the electricity grid to individual server racks. It will also bring Skeleton’s technology and manufacturing operations closer to its major AI infrastructure customers in the US. The company plans to invest more than $200 million in expanding its operations and research and development activities in Silicon Valley, working directly with major technology companies.
As part of its US expansion, Skeleton also plans to establish domestic cell manufacturing facilities. This will help the company build a complete US-based supply chain, covering everything from manufacturing cells to producing finished power systems.
