Skeleton Technologies has secured a strategic nine-figure investment led by Siemens, valuing the high-power systems company at more than $1 billion and providing capital to expand its U.S. manufacturing and research operations.
The investment will primarily support Skeleton’s manufacturing footprint in the U.S. and R&D activities in Silicon Valley as the company responds to growing demand from hyperscalers for power systems supporting AI data centers. Skeleton plans to invest more than $200 million in operational scale-up and R&D in Silicon Valley while working directly with hyperscale customers.
The company’s U.S. expansion includes plans to establish domestic cell manufacturing, creating an integrated American value chain spanning energy storage cells through complete power systems. The strategy is designed to bring Skeleton’s technology and production capacity closer to major AI infrastructure customers.
Skeleton develops high-power systems intended to manage the rapidly changing electricity demands created by AI workloads. GPU clusters can move between different power states within milliseconds, producing load fluctuations, peaks, and harmonics that can affect data center power infrastructure and computing performance.
Skeleton said its systems can manage those rapid power fluctuations close to the computing workload while eliminating harmonics, providing up to 40% energy savings and double-digit improvements in GPU performance. Its technology combines proprietary Curved Graphene energy storage materials with power electronics and system-level controls.
The financing also expands an existing relationship between Skeleton and Siemens. Siemens supported Skeleton’s expansion in 2023, and Siemens Digital Industries designed and automated Skeleton’s Leipzig SuperFactory in Germany. Under the expanded partnership, the companies plan to combine Siemens’ industrial electrical infrastructure capabilities with Skeleton’s fast-response power systems.
The companies will collaborate on products for next-generation AI data centers, addressing power requirements from the grid through the rack. Skeleton sees the partnership as particularly important as electricity consumption associated with AI infrastructure rises and hyperscalers seek to increase the amount of compute available from existing power capacity.
Global data center electricity consumption is expected to increase from approximately 485 TWh in 2025 to 950 TWh by 2030, according to the International Energy Agency figures cited by Skeleton. Electricity consumption by AI-focused data centers is expected to triple, while data centers are projected to represent approximately half of U.S. electricity demand growth through 2030.
KEY QUOTES:
“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. 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.”
Taavi Madiberk, CEO Of Skeleton Technologies
“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.”
Markus Grabmeier, President Of Electrical Products At Siemens AG
