The company reported losses of €1.1 million in its 2024 financial report, and assets of close to €3.7 million, of which over €3.3 million consisted of cash and short-term deposits.

It accumulated more than a million euros in general administrative expenses in 2024, with the largest proportion going on research and development costs, at €439,357.

Frankenburg Technologies was founded last year and its CEO is former defense ministry secretary general Kusti Salm. Former Estonian Defense Forces (EDF) commander Martin Herem is a strategic advisor to the company and former EDF divisional commander Veiko-Vello Palm is a board member.

The company aims to create "technologies that help the countries of the free world win the war," the report stated.

It develops air defense missile systems that are cheaper and quicker to produce than many of the systems currently in use, and drawing on lessons learned from Russia's invasion of Ukraine.

Supercapacitor manufacturer Skeleton Technologies is the majority stakeholder in Frankenburg Technologies, holding a 62 percent stake. The second major shareholder is MM Grupp OÜ, owned by businessman Margus Linnamäe.

Two shareholders are also registered in the Cayman Islands and on Guernsey.
The company reported it employed 31 people as of the end of 2024, whose total labor costs came to €514,127.

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