Estonian energy storage firm Skeleton becomes unicorn with Siemens deal

Siemens has bought into Skeleton Technologies, an Estonian maker of energy storage systems. With this, the deal values Skeleton at more than $1 billion, its CEO Taavi Madiberk told Bloomberg.

The deal closed this month and was worth more than $100 million, the company said, but it did not give the exact figure.

In return, Siemens can sell Skeleton’s high-power storage systems to data centres, and no one else can, Siemens tech chief Peter Koerte told Bloomberg.

Skeleton’s systems help data centres smooth out sudden swings in power use and reduce energy waste.

“What we see is that also up to 40% more compute can be had on the chips if the power management is done right and the energy is not burned off,” Madiberk said.

Skeleton says it works with all the big US cloud firms, and that its kit will soon be used across a gigawatt of data...

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