Skeleton Technologies chooses France for €600 million investment

Taavi Madiberk meets Emmanuel Macron in Paris.
Source : Skeleton Technologies

Skeleton Technologies expands into France with an investment of 600 million euros.

Paris, France – On May 14, 2024, at an economic summit chaired by Emmanuel Macron, Skeleton Technologies, an Estonian developer and manufacturer of energy storage solutions, announced a major expansion in France. The company plans to invest 600 million euros in research and development (R&D) and super battery production over the next five years.

In 2024, Skeleton will begin research and development of next-generation battery technologies in Toulouse, the Rose City in southwest France. Mass production of these super batteries is scheduled for 2027.
Founded in Tartu in 2009, Skeleton Technologies opened its first factory near Dresden in Germany seven years ago, and is currently building a supercapacitor factory in Leipzig. Its headquarters and engineering center in Tallinn employ over 130 people. This Estonian company is definitely oriented towards the great industrial powers of France and Germany.

A significant achievement for Estonian industry:
“We are the first Estonian industrial company to expand into Europe’s two leading industrial countries: Germany and France. This is an important achievement for us, and will also pave the way for other Estonian green technology companies,” said Taavi Madiberk, CEO and co-founder of Skeleton Technologies.
Madiberk pointed out that several countries had been considered for the new R&D center and factory.
However, France’s efforts to revive its industry with green technologies were decisive.
The interest of the French in our activities has been remarkable, and our Estonian origin is perceived as an asset ,” he added.
Incidentally, in October 2023, France enacted the Green Industry Act, which was drawn up in consultation with civil society and elected representatives, and then passed by parliament.
This law aims to accelerate the country’s reindustrialization and make France the leader in green industry in Europe.
A perfect application of this law can be seen in the case of Skeleton.
Toulouse: a strategic choice
“We chose Toulouse for our R&D center because we are close to our customers and benefit from a world-class workforce and research institutions,” explained Madiberk. Occitanie, home to aerospace giants such as Airbus and Thales, as well as the University of Toulouse, a renowned materials science research center, proved to be an ideal location.
Enthusiastic reception in France
Bruno Le Maire, French Minister for the Economy, Finance, Industrial and Digital Sovereignty, comments: “Seven years ago, the battery industry in France and Europe did not exist. This investment decision, made possible by the green industry tax credit, validates our strategy of reindustrialization in the service of the French people and the climate.”

Carole Delga, President of the Occitanie region, welcomed the expansion. “The arrival of Skeleton Technologies is excellent news for the Occitanie region. We were competing with several European countries and other French regions. Skeleton’s decision shows that the region has become a magnet for green technologies,” said Delga.
She added that efforts to develop a favorable ecosystem for companies in this sector had paid off.

A green reindustrialization strategy
Skeleton Technologies is recognized as one of the Global Cleantech 100 companies, a leader in high-power energy storage. Employing over 300 people, it is present in Estonia, Germany and Finland.
Laurent Saint-Martin, Director General of Business France, emphasized that this project is emblematic of France’s strategy to win back green industry. ” Business France worked with Skeleton for four years to convince them to choose France, which was a decisive factor in their decision,” he added.

This expansion marks an important step in the development of the green technology industry in France, attracting innovative companies and strengthening R&D capabilities in the renewable energies sector.

France is an attractive destination for Estonian companies:
Skeleton is not the only company to invest in France. Bolt, Europe’s leading mobility platform, announced on May 13, 2024 an investment of over 100 million euros in France over the next five years. This strategic commitment aims to promote responsible mobility solutions and strengthen its presence on the French market, where it is already a major player with operations in over 30 cities and a network of over 50,000 partner drivers.

Bolt’s investment will focus on three areas: the creation of a Chauffeur Hub in Saint-Ouen, driver training via the Bolt Academy, and the acquisition of low-emission vehicles.
The hub will serve as a support center for 25,000 drivers a year, the Academy will focus on diversity and inclusion, and a large part of the funds will be dedicated to hybrid and electric vehicles.

If you’re also interested in investing in France, don’t hesitate to call on the services of the future France-International Chamber of Commerce in Estonia, which offers qualified contacts to help you with your business.

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Contact us!

✉ contact@ccife.ee

CCI France-Estonie is proudly affiliated to CCI France International, the worldwide network of French Chambers of Commerce and Industry.

Download the CCIFI Connect application

Accelerate your business thanks to the 1st private network of French companies in 94 countries: 119 chambers | 33,000 companies | 4,000 events | 300 committees | 1,200 exclusive advantages

Exclusively for members of the CCI Françaises à l’International, discover the CCIFI Connect app.

Stay informed!

Keep up to date with the latest news from the Chamber and never miss an upcoming event.

Made with by Cycoma

Copyright 2024 Chambre de Commerce et d’Industrie France Estonie