Tallinn-based PowerUP Energy Technologies has secured €10 million in Series A financing to accelerate manufacturing and commercial rollout of its hydrogen-powered electric generators.
The round was co-led by Mercaton and defence-tech investor ScaleWolf, with additional backing from SmartCap’s Green Fund.
Hydrogen Systems Built for Extreme Conditions
Founded in 2016, the company develops modular hydrogen fuel cell generators designed for defence, industrial and off-grid applications. The units are silent, emission-free and engineered to operate in harsh environments—meeting military-grade requirements while also serving telecom, security, construction and emergency-response sectors.
The company’s systems have been deployed and stress-tested in high-risk regions, including Ukraine, giving PowerUP an advantage in proving resilience under real-world battlefield conditions.
Founder and CEO Ivar Kruusenberg explains: “Our technology isn’t confined to labs or prototypes. It has been tested on the front lines. That’s the essence of dual-use innovation—clean energy solutions strengthened and validated by defence-sector needs.”
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Scaling Production and Expanding Market Reach
PowerUP will use the new capital to meet rising commercial and defence-sector demand. Plans include expanding sales and technical teams, entering additional commercial markets—particularly critical-infrastructure backup power—and establishing support hubs in Central Europe and North America.
The company will also accelerate development of next-generation, higher-density fuel cell systems tailored to broader power requirements.
About PowerUP
PowerUP provides clean, portable hydrogen fuel cell generators delivering reliable, silent, emission-free power for telecom, security, defence, construction, healthcare and other mission-critical sectors. The company’s systems enable dependable off-grid and backup energy wherever conventional solutions fall short.
