Talliin-based PowerUP Energy Technologies has closed a €10 million Series A funding round to accelerate the manufacturing and commercialisation of its hydrogen-powered electric generators. Co-led by Mercaton and ScaleWolf and joined by SmartCap’s Green Fund, the investment will enable further scaling of the technology, recognised for its dependable performance in extreme environments.
PowerUP Energy Technologies, founded in 2016, develops and manufactures modular hydrogen fuel cell systems for defence, industrial, and off-grid applications. Its silent, emission-free generators are designed for use in sensitive military forward operating bases and critical civilian infrastructure, supporting customers that prioritise reliable, security-grade energy independence.
At the core of PowerUP’s strategy is a dual-use approach: providing robust, resilient power solutions that meet the high demands of the defence sector while also serving critical commercial use cases such as security and telecommunications. The company’s technology has gained international recognition for its reliability in extreme environments, including deployment and validation in high-risk regions such as Ukraine.
PowerUP was founded on a clear mission: to deliver clean, reliable energy solutions. While other technologies are still being tested in labs, ours has already been battle-tested on the front lines in Ukraine. This is the very definition of dual-use innovation: a cleantech solution that has been forged and validated by the urgent needs of defence,
said Ivar Kruusenberg, founder and CEO of PowerUP Energy Technologies.
The new investment will be used to meet growing demand across both commercial and defence markets. PowerUP plans to expand its sales and technical teams to enter new commercial segments, with a focus on backup power for critical infrastructure, while building strategic sales and support hubs in key regions such as Central Europe and North America to strengthen its international presence.
In parallel, the company will accelerate R&D to develop higher-density fuel cell models tailored to a wider range of power requirements.
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