Getting the right mix of staff for the expansion is also important. “We have managed to bring in ambitious young people but also more experienced people,” he said. “Globally there are 4m vehicles with ultracapacitors on the road and our business development manager was responsible for 3m of those, and our CFO comes from Global Foundries and Infineon, so we have tried to pair our young ambition with specific industry experience.”
With the manufacturing plant in Dresden and major vehicle customers in Germany, does the headquarters have to move?
“Even today if you look at our management team it’s a good mix of Estonian and German – I would not comment on moving headquarters,” he said. “We also see with German customers from a logistics point of view having manufacturing and inspection closer provides a benefit. The supply chain is definitely a factor. If you factor in supply chain costs then it makes commercial sense to be right in the heart Europe and scale manufacturing.”