Briefly in English

Merus Power – A technology company enabling a sustainable and energy-efficient future

We design, manufacture and sell domestic innovative energy storage and power quality solutions and services. Our business is based on scalable and modular power electronics, advanced software technology and electrical engineering expertise. Our customer base is diverse and consists of players in the fields of industry, power generation and renewable energy, among others.

We operate in a global and fast-growing market. Our growth is supported by global megatrends such as climate and emission targets from public and private players, green transition with various related investment programs, and sustainability targets. We are aiming for strong growth, especially in the energy storage market utilizing renewable energy.

Our company is headquartered in Nokia and our staff represents internationally valued expertise.

Products and services

Merus™ ESS – Energy storages and renewable energy integration

Merus™ Energy Storage Solution supports the operation of the electric grid by enabling the storage and integration of renewable energy into it.

Merus™ Power Quality solutions

Merus™ Power Quality solutions improve industrial energy efficiency, increase productivity and support the functionality of the electric grid.

Merus™ Services

Our Merus™ Services ensure the optimal operation and return on our customers’ investments throughout their life cycle.

Our solutions are based on scalable technology, which enables the use of our products and services in a wide range of different application needs.

Our scalable technology has many applications

Renewable energy

  • Solar power farms, wind farms, hydropower plants
  • Industry’s own power generation
  • Smart grids, microgrids

Infrastructure and utilities

  • Water and wastewater treatment plants
  • Electric car charging points and network
  • Substations, transmission and distribution utilities
  • Smart grids, microgrids

Commercial buildings

  • Data and IT centers
  • Shopping centers and malls
  • Airports
  • Hospitals

Light Industry

  • Industries with fast fluctuating loads
  • Critical process industry
  • Manufacturing industry

Heavy Industry

  • Mining, mineral and cement industry
  • Iron and steel industry
  • Oil and gas industry

Our strengths

  • Large, international renewable energy markets with strong growth prospects
  • An innovative, smart and scalable technology company for the revolution in renewable energy growth
  • Extensive and specialized product portfolio that meets the increased demand of megatrends
  • Responsibility at the core of the business
  • Professional staff and an attractive workplace for top professionals

Our mission

Our Energy Storage and Power Quality solutions enable renewable energy growth, increase industry productivity and create winning businesses for our global customers.

Our vision for 2025

We are a major smart grid solution manufacturer in the Nordics and recognized as a preferred supplier in the global battery energy storage and power quality markets.

Our strategy

The goal of our growth strategy is to increase the company’s awareness, sales and profitability, and to strengthen the company’s market position in the transition to sustainable energy. We aim for strong growth, especially in the energy storage market and the integration of renewable energy, and we aim to grow faster than the global market itself for power quality solutions.

The cornerstones of Merus Power’s growth strategy are:

  • Scalable product portfolio
  • Multi-channel sales strategy
  • Growth of energy storages in Europe
  • Local and global presence of power quality solutions
  • Increasing the share of services

Our financial targets

Merus Power’s medium-term financial goals are to achieve:

  • Net sales of EUR 80 million in 2026, primarily through organic growth
  • an average EBITDA margin of more than 15%
  • an equity ratio of more than 35%

Dividend policy

Our goal is to create value for shareholders by using our funds to achieve growth targets, but we see dividend payment as a possible option in the medium term.

Financial guidelines for 2021

Net sales in 2021 are expected to be EUR 13–15 million and EBITDA is expected to be at the level of EUR 1 million.

The guidelines are supported by:

  • strong industrial order backlog in power quality solutions
  • new orders and deliveries of energy storages and
  • steadily growing sales through the company’s cooperation network.

Key figures

(One thousand euros)January 1st, 2021 – December 31st, 2021 (Audited)January 1st, 2020 – December 31st, 2020 (Audited)January 1st, 2020 – December 31st, 2019 (Audited)January 1st, 2020 – December 31st, 2018 (Audited)
Sales14 7706 50010 3029 351
% of sales5.6 %0.6 %5.7 %8.1 %
% of sales2.3 %-5.5 %2.3 %4.1 %
Net income-994-465146319
% of turnover-6.7 %-7.2 %1.4 %3.4 %
Net debt-7 1692 0961 350-755
Order book8 38810 0661 9604 925
Equity ratio, %64.0 %32.3 %31.5 %32.0 %
Net gearing, %-55.1 %105.1 %67.5 %-40.7 %
ROE (return on equity), %-13.3 %-23.3 %7.6 %17.2 %
Number of employees (average)52413928

Investor relations

Kari Tuomala
Managing director

Contact information

Merus Power Oyj
Staff email addresses: firstname.lastname [at]
(Write ö = o and ä = a)
Tel. 020735 4320
Email: meruspower [at]

Visit us

Pirkkalaistie 1
Nokia 37100