Skeleton Technologies, which has grown from a startup to become a European leader in energy storage, increased its turnover threefold last year, reported ETV news broadcast "Aktuaalne kaamera."

The company currently employs around 100 people, about one third of whom work in its production units. Part of its production already moved to Dresden, where the company opened a manufacturing facility last year, but as of this July, Skeleton will be shifting the entirety of its production to Germany.

"We want to be closer to the client," Skeleton CEO and co-founder Taavi Madiberk said. "This will allow us to offer our clients faster delivery times and lower logistics costs as well as better connect the customer with our company. In Germany's case, the most important is the auto industry. We're looking at Bosch and Continental, but also the producers BMW, Volkswagen Group, Audi — then proximity to the client is important. Wind turbine producers as well — Enercon is a good example."

Skeleton will be closing its manufacturing facility in Viimsi, which was opened in 2014, but the company's development unit will remain based in Estonia and the company plans on hiring.

"We are planning on hiring 20 new people in Estonia in 2019," Madiberk said. "As for our production operators, it is clear that once production is all in one place in Germany, [their numbers] will decrease somewhat. We're talking about a dozen people here."