Skeleton Technologies, developer and manufacturer of high energy and power density supercapacitors, has received €15 million in a loan from the European Investment Bank (EIB), under the European Fund for Strategic Investments (EFSI).

This funding is meant to allow the company to finance the R&D for the further development of its products and systems. Skeleton will use part of the money to invest in an electrode mass-production facility in Dresden, Germany, according to the statement. The loan is stated to be based on company performance and doesn’t dilute the holdings of Skeleton’s founders, according to the EIB.

This is the latest in a line of activities to secure funds by Skeleton, which also involved €13 million in an investment led by FirstFloor Capital in August 2016, a €4 million investment from KIC InnoEnergy in January 2016, and more - totaling in around €41.7 million.