Estonia-based Skeleton Technologies, a provider of ultracapacitor-based energy storage, high power and high voltage solutions to save energy, plans to invest $28.1 million in Germany.
Under the investment plan, the company will bolster its manufacturing and research and development capabilities as it aims to increase its capacity.
Skeleton Technologies will make the investment in its facility in Saxony, where the company committed around $7 million in 2017.
The company has raised $52.1 million over six funding rounds so far.