History
Over 15 years on the global market
Throughout our over 15-year history, we have courageously developed our business and product portfolio as well as different technological solutions, which help us meet our customers’ every need.
When our company was established, the share of renewable energy in the grid was small. There was no specific need for a more active balancing of production and consumption and power quality was not the most important criterion in investments. We sought business growth in the industry’s power quality solutions: our operations were focused on power electronics, intelligent software technologies, and electrical engineering expertise, and applying them to energy saving and productivity improvement in industrial and real estate applications.
Since 2016, growth prospects have opened up in renewable energy markets and together with technological development we expanded our operation to energy storage equipment.
History of Merus Power in a nutshell
2008
Merus Power was founded by Finnish engineers Kari Tuomala, Jyri Öörni, Aki Leinonen, and Risto Laakso in 2008 to meet the challenges of industrial power quality and connecting wind power to the electrical grid.
2009
The company’s business operations started at the beginning of the year.
2010
We made our very first delivery delivering Merus® Active Filters to a large domestic industrial operator.
2011
Merus Power completed its first international customer deliveries to Taiwan, China, and the United Kingdom. In addition, Inventure Fund Ky made a capital investment in Merus Power.
2013
Merus Power started to gain a foothold in the steel industry market.
We made significant progress in product development and got to deliver our very first M-Series Merus® STATCOM products to several countries abroad.
Power Fund III Ky and Inventure Fund Ky made new capital investments.
2014
Merus Power finalized the development of its SVC technology, which is still in use and made the first system delivery based on SVC technology to a customer in Sudan.
2016
Merus Power invested specifically in uninterrupted power quality technology and sold its first product based on this to a customer in South Korea.
2017
New modular A2 Active Harmonic Filter launched.
2018
Merus Power reached a significant milestone by delivering the world’s largest active filter to a wind farm in Australia.
Merus Power concluded its first significant reference deals of energy storages.
2019
Merus Power’s net sales exceeded 10 million euros and the number of personnel grew to 39.
2020
We concluded the company’s largest single deal, the delivery of a Merus® STATCOM system to a Spanish steel mill integrator.
2021
Merus Power becomes a publicly listed company.
2022
We launched our new Merus® 4DRIVES – Active Harmonic Filter specifically designed to tackle the power quality challenges of Variable Frequency Drives (VFD).
2023
We agreed to deliver a 30MW/36MWh battery energy storage system to a renewable energy project developer and fund manager to support the operation of the electric grid in Finland.