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Skeleton Technologies to borrow from EIB

Skeleton Technologies ultracapacitors.
Skeleton Technologies ultracapacitors. Source:

Skeleton Technologies, the manufacturer of graphene-based ultracapacitors, is set to borrow money from the European Investment Bank (EIB), with the loan agreement to be signed next week.

Minister of Finance Sven Sester is scheduled to attend the signing of the agreement on the loan guaranteed by the European Fund for Strategic Investments (EFSI) between EIB and Estonia's Skeleton Technologies at Swissotel in Tallinn, it appears from the list of upcoming events of the Ministry of Finance.

Neither Skeleton Technologies nor the ministry would comment on the subject on Friday.

EIB invested €440 million in Estonia last year. Its latest contract signed with a borrower in Estonia was on a €30 million loan for work on the airside of Tallinn Airport.

Skeleton Technologies Group had a consolidated revenue of €432,000 in 2015, seven times higher than the year before, while its operating loss soared 2.8-fold to 2.1 million euros.

Skeleton Technologies Group has three subsidiaries: Skeleton Technologies OÜ in Estonia, Skeleton Technologies OY in Finland and Skeleton Technologies GmbH in Germany.

Margus Linnamäe, owner of BNS, is invested in Skeleton Technologies Group.

Editor: Editor: Aili Vahtla

Source: BNS

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