Primus has advised Skeleton Technologies, a leading ultracapacitor manufacturer in Europe, on EUR 13 million in new investment it received from FirstFloor Capital, a Malaysian venture capital investment firm specializing in funding high-growth technology companies. Deloitte Legal advised FirstFloor Capital.
The Round C investment, which also includes existing Skeleton Technologies’ investors UP Invest and Harju Elekter, brings total financing to EUR 26.7 million and will support Skeleton Technologies in its next phase of revenue ramp-up to bring graphene ultracapacitors from high-end sectors to the mass market, while moving higher up the value chain with turnkey energy storage solutions.
According to Primus, “ultracapacitors are high-power energy storage devices with more than 100 times increased power density across more than a million life-cycles, compared to the best battery technologies. Skeleton Technologies’ devices are the only ultracapacitors to use a patented graphene-based material in their manufacture, allowing them to deliver twice the energy density and five times the power density of their competitors."
The Primus team advising Skeleton Technologies on the capital raising transaction and related legal matters was led by Partner Ermo Kosk.
Deloitte Legal did not reply to our inquiry on the matter.