Estonian energy storage company Skeleton Technologies is partnering with Siemens to build Europe’s largest supercapacitor factory in Germany.

Supercapacitors are electrochemical energy storage devices that can store and release energy at smaller quantities and faster speeds than conventional batteries. They help technologies such as cars, electrical grids and industrial sites reduce carbon emissions and save energy.

The €220m supercapacitor factory will be designed by Siemens and based near Leipzig, Germany. Production is set to begin in 2024 and is expected to take five years to complete.

Siemens’ technology is expected to complement Skeleton’s patented ‘curved graphene’ material in lowering production costs by almost 90pc once the project is completed. It will digitise Skeleton’s entire supply chain and help scale up production of next-generation capacitors.

“Supercapacitors are a key element in dramatically reducing emissions in the power generation, transportation and industrial sectors,” said Skeleton co-founder and CEO Taavi Madiberk.

“Skeleton and Siemens both believe that the global economy is undergoing structural changes in some of the largest carbon emission sources such as power generation, transport and industry. Supercapacitors are a key element in drastically reducing emissions in these sectors.”

The factory in Markranstädt, Leipzig will produce up to 12m cells a year and have 40 times more output than Skeleton’s other site in Saxony, which will continue as an R&D factory in the future. Madiberk said the aim is for automotive clients to account for 20pc of revenue by 2027.

Skeleton has signed contracts with German carmakers and has deals in the pipeline with Japanese manufacturers, according to a Reuters report.

“Supercapacitors are a key element in drastically reducing emissions in these sectors. In the field of energy storage and saving, technology and innovation play a crucial role in enabling the global economy to achieve climate goals,” Madiberk said.

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