Merus Power
Merus Power Oyj is a Finland-based power electronics company that designs and manufactures battery energy storage systems and power quality solutions (STATCOMs, active harmonic filters, SVCs) for utilities, renewable developers, and industrial customers worldwide, with in-house software and EPC delivery.
- Company typePublic
- Founded2009
- HeadquartersYlöjärvi, Finland
- Headcount101–250
- GTM typeB2B
- OfferingHardware or Manufacturing
What Merus Power does
Merus Power Oyj is a Finland-based power electronics company that designs, manufactures, and delivers battery energy storage systems (BESS) and power quality solutions for industrial, utility, and renewable energy customers. Founded in 2008/2009 and headquartered in Ylöjärvi with 113 employees, the company operates an EPC model for large-scale energy storage projects and supplies complementary power quality equipment including STATCOMs, active harmonic filters, SVCs, and hybrid power quality systems. All core technology — power conversion systems, energy management software, plant power controllers, and grid-forming controls — is developed and manufactured in-house in Finland.
The company's product portfolio centers on two solution families. Merus® ESS is a scalable lithium-ion battery energy storage system incorporating the in-house Merus® PCS power conversion system and a hybrid controller for integrated renewable-storage operation. The power-quality line includes Merus® A2 active harmonic filters, Merus® HPQ hybrid power-quality systems, Merus® STATCOMs, and Merus® SVCs, with modernization/upgrades of legacy compensators as an additional offering. The company has pioneered grid-forming BESS capability in the Nordics, achieving Fingrid certification in 2025, and supports lifecycle service revenue through maintenance agreements and the cloud-based MERUSCOPE IoT monitoring service.
Merus Power monetizes primarily through project-based hardware sales (EUR 2M-EUR 15M per BESS delivery), complemented by growing service and maintenance contracts and a proprietary trading and optimization system that enables participation in Nordic reserve markets (FCR, aFRR). Go-to-market combines direct enterprise sales for large projects with a global partner/reseller network across 70+ countries. The customer base spans Finnish utilities, European renewable developers (Alpiq, wpd, Exilion), industrial operators (Suez Steel, Aurora Infrastructure), grid operators (Fingrid), and rail-electrification integrators (Siemens Mobility). The company has been publicly listed on Nasdaq OMX First North since June 2021.
Merus Power firmographics
Firmographics- Name
- Merus Power
- Legal name
- Merus Power Oyj
- Website
- https://meruspower.com
- Company type
- Public
- Founded year
- 2009
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Merus Power Oyj is a Finland-based power electronics company that designs and manufactures battery energy storage systems and power quality solutions (STATCOMs, active harmonic filters, SVCs) for utilities, renewable developers, and industrial customers worldwide, with in-house software and EPC delivery.
- Ownership category
- akta.pro rank
Merus Power industry classification
Industry- Product category
- Power Electronics and Energy Storage
- NAICS
- Electrical Equipment Manufacturing (33531)
- SIC
- Electronic & Other Electrical Equipment (No Computer Equip) (3600), Switchgear & Switchboard Apparatus (3613), Instruments For Meas & Testing Of Electricity & Elec Signals (3825)
- akta.pro primary industry
- BESS EPC, Integration & Commissioning (EUAFAAAB)
- akta.pro secondary industries
- Utility-Scale BESS EPC & Integration (EUAEAEAA), BESS O&M and Lifecycle Services (Warranty, Spares, Monitoring) (EUAEAEAM), FACTS / Reactive Power & Power Quality Systems EPC (SVC/STATCOM, Capacitor Banks) (EUAEABAE), Commercial & Industrial (C&I) BESS EPC & Integration (EUAEAEAB)
Keywords
Where Merus Power is headquartered
LocationHeadquarters
- HQ city
- Ylöjärvi
- HQ country
- Finland
- HQ region
- Europe
Offices2 records
Markets served
Merus Power business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Personnel, Supply Chain, Operations, Technology or R&D, Infrastructure, Marketing or Sales
Revenue model
- Battery Energy Storage Systems (BESS): Turnkey delivery of large-scale battery energy storage systems including equipment, installation, commissioning, and testing. Revenue from EPC (Engineering, Procurement, Construction) contracts for energy storage projects. Commercial operation typically 1-2 years after agreement signing.
- Power Quality Solutions: Sale of power quality equipment including STATCOM, Active Harmonic Filters, Hybrid Power Quality, SVC. Both product sales and modernization/upgrading of existing compensators.
- Service and Maintenance: Lifecycle services, maintenance agreements, and operational support for energy storage systems. Service and maintenance agreements support growth of service business and value creation throughout lifecycle of energy storage systems.
- Market Participation Services: Energy storage systems enable participation in reserve and ancillary service markets including Frequency Containment Reserve (FCR) and Automatic Frequency Restoration Reserve (aFRR). Own trading and optimization system for route to reserve markets.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Battery energy storage systems (BESS) - project-based pricing |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels7 records
Merus Power product offering
Product offeringCore offering
Merus Power designs, manufactures, and delivers battery energy storage systems (BESS) and power quality solutions — including Merus ESS, Merus PCS, Merus STATCOM, Merus A2 Active Harmonic Filters, Merus HPQ, and Merus SVC — to utilities, renewable energy operators, and heavy industries. The company operates as an EPC contractor providing turnkey delivery with installation, commissioning, lifecycle service agreements, and IoT-based remote monitoring. All power electronics, EMS, PPC, and control software are developed and manufactured in-house in Ylöjärvi, Finland.
Product overview
Merus Power offers a comprehensive portfolio of power quality and energy storage solutions for industrial, commercial, and utility applications. The product portfolio centers on two main solution areas: (1) Battery Energy Storage solutions comprising Merus® ESS (lithium-ion energy storage system), Merus® PCS (power conversion system), and Merus® Hybrid Controller for integrated renewable and storage control; and (2) Power Quality solutions including Merus® A2 (active harmonic filter), Merus® HPQ (hybrid power quality), Merus® STATCOM (static synchronous compensator), and Merus® SVC (static var compensator). Supporting services include Merus® Power Quality Measurement for diagnostic analysis and Merus® MERUSCOPE™ cloud-based IoT monitoring. All solutions are developed and manufactured in Finland with in-house software, power electronics, and control systems.
Differentiator
Problem solved
Functional benefit
Brands
- Merus® ESS: Lithium-ion battery energy storage system, a scalable BESS fully designed by Merus Power.
- Merus® PCS
- Merus® A2
- Merus® HPQ
- Merus® STATCOM
- Merus® SVC
- Merus® MERUSCOPE™
Products and services
- Merus ESS — Energy Storage System Scalable lithium-ion battery energy storage system fully designed by Merus Power. Enables storage and integration of renewable energy with grid-forming capability for independent voltage and frequency support, serving utilities, renewable energy operators, and heavy industries.
- Merus PCS — Power Conversion System Integral part of Merus Power's battery energy storage system, designed and built in-house for scalability, efficiency, and reliable performance. Converts DC battery power to AC grid power and vice versa.
- Merus STATCOM — Static Synchronous Compensator Modular and modern Static Synchronous Compensator for demanding applications and heavy industrial loads. Uses 3-level topology with independent inverter modules operating in parallel, providing dynamic reactive power compensation, voltage stabilization, and harmonic filtering.
- Merus A2 — Active Harmonic Filter Scalable, versatile, and durable active harmonic filtering solution designed and manufactured in Finland. Responds in less than 1 millisecond for dynamic harmonic compensation, fast flicker reduction, and load balance.
- Merus HPQ — Hybrid Power Quality All-in-one power quality system combining active harmonic mitigation and power factor correction in a single solution for industrial applications.
- Merus SVC — Static Var Compensator Static Var Compensator for voltage stabilization and reactive power management in industrial networks. Also offered as a modernization solution for extending the lifecycle of existing compensators.
- Merus Power Quality Measurement Power quality measurement service that helps identify root causes of electrical disturbances and supports concrete actions to improve network reliability. Includes measurement equipment installation, analysis, and a clear report with practical recommendations.
- MERUSCOPE — Cloud-based IoT Monitoring Service Real-time cloud-based IoT monitoring service enabling proactive maintenance and immediate responses to anomalies in power quality and energy storage systems.
Quantifiable outcome
- 676 MW of energy connected to grid
- +5 more outcomes
Companies that use Merus Power
Customer profileNamed customers11 records
Segments4 records
Ideal customer profiles4 records
Merus Power technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature7 records
Merus Power partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered core and major.
- ETA ElectriccoreLocal partner in Egypt handling commissioning and site management. Long-standing partnership since 2015. ETA Electric provides local expertise and resources for Merus Power projects in Egyptian market.
- Lappeenrannan EnergiacoreLocal energy provider co-investing in Lappeenranta energy storage facility. Joint venture partner for one of Finland's largest battery energy storage projects.
- AlpiqcoreSwiss energy company commissioning the first grid-forming BESS in the Nordics (30 MW/36 MWh in Valkeakoski). First grid-forming energy storage system for Alpiq. Project strengthens Alpiq's position as provider of flexible energy solutions.
- Suez Steel CompanycoreMajor Egyptian steel industry player. Second cooperation project with Merus Power - modernization of 185 Mvar static reactive power compensator. Partner investing in efficiency and sustainability solutions.
- Aurora Infrastructure OymajorIndustrial electricity network partner. Second modernization of compensator cooperation. Aurora aims to offer functional and reliable power networks while reducing customers' carbon footprint through improved power quality and energy efficiency.
- Taaleri EnergiamajorOwner of Lempäälä battery energy storage system (SolarWind III fund). Merus Power delivered the BESS. Taaleri is a significant investor in renewable energy and storage solutions.
- FingridcoreFinland's Transmission System Operator (TSO). Published first requirements for grid-forming functionality in summer 2023. Worked with Merus Power to verify grid-forming BESS through extensive simulations and demanding field tests. Fingrid's open communication supports investment landscape for energy storage.
- wpd (Söderskogen Vindpark Oy)majorInternational renewable energy developer (wpd Group). First energy storage project for wpd. Merus Power selected as technology supplier based on European technology, reliability, and previously delivered battery energy storage systems.
- ExilionmajorInvestment manager for renewable energy projects. Third energy storage solution delivered by Merus Power. 20 MW/41 MWh BESS at Varevaara wind farm. Exilion developing wind power solutions with energy storage for flexible production and efficient operation.
- Savon VoimamajorFinnish energy company. First energy storage system connected to hydropower production at Juankoski. Merus Power delivering 5 MW/10 MWh BESS with service and maintenance agreement.
- Siemens Mobility DenmarkmajorWorld-leading supplier of rail rolling stock, infrastructure, services and digital solutions. Merus Power supplying STATCOM compensator for battery-powered train charging station. Supports Merus Power's strategy in rail transport electrification.
- CATLmajorCollaboration on battery energy storage in Northern Europe announced June 2026. Strategic technology partnership for BESS solutions.
Scale indicators10 records
Recent moves7 records
Expansion highlights6 records
Merus Power competitors and assessment
Company assessmentBroad incumbents
- Sungrow: World's largest inverter manufacturer with growing utility-scale BESS offering. Competes with Merus Power on the PCS and BESS inverter layer globally and increasingly in Europe.
- ABB: Global power and automation major offering STATCOM, SVC, power quality and grid solutions. Overlaps directly with Merus Power's STATCOM/SVC and power quality portfolio at much larger scale.
- Tesla Energy (Megapack): Utility-scale battery storage offering (Megapack) competing with Merus Power in the global BESS market. While Tesla operates at vastly larger scale, it competes for the same utility-scale project pipeline that drives Merus Power's orderbook.
- Hitachi Energy: Global leader in FACTS, STATCOM, SVC and grid-forming inverter technology. Direct competitor for Merus Power's reactive power compensation and grid stability solutions, particularly for heavy industrial and utility customers.
- Siemens Energy: Global energy technology major offering grid technology, STATCOM, and storage solutions. Comparable to Merus Power's FACTS/power quality offerings and a potential competitor in BESS — also a customer (Siemens Mobility Denmark) in one disclosed project.
Direct peers
- Leclanché: Swiss-listed battery energy storage solutions provider with focus on grid-connected and industrial applications. Comparable European BESS specialist competing for similar European utility and industrial customers.
- Fluence: Global battery energy storage system integrator and service provider. Directly comparable to Merus Power's BESS EPC and grid-forming capabilities, with broader geographic scale and access to capital as a Nasdaq-listed company.
- Wärtsilä Energy Storage: Finland-headquartered energy storage and grid solutions provider. Competes directly with Merus Power in the Nordic market for utility-scale BESS projects, including grid-forming storage offerings.
- Eaton: Global power quality and electrical manufacturer offering active harmonic filters, UPS, and power conditioning products. Closely comparable to Merus Power's A2 active harmonic filter and HPQ hybrid power quality solutions for industrial and data center customers.
- NHOA Energy (Engie): European-based BESS turnkey provider with similar EPC model and focus on grid-forming and ancillary services. Closely comparable in business model and target customers to Merus Power's BESS business.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Merus Power social profiles
Digital presenceMerus Power compliance and trust
Trust signalCompliance1 record
Merus Power financial estimates
Financial estimateRevenue estimate
Valuation estimate
Merus Power leadership team
Management profileNumber of profiles
Profiles11 records
Merus Power funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Merus Power M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Merus Power
What does Merus Power do?
Merus Power designs, manufactures, and delivers battery energy storage systems (BESS) and power quality solutions — including Merus ESS, Merus PCS, Merus STATCOM, Merus A2 Active Harmonic Filters, Merus HPQ, and Merus SVC — to utilities, renewable energy operators, and heavy industries. The company operates as an EPC contractor providing turnkey delivery with installation, commissioning, lifecycle service agreements, and IoT-based remote monitoring. All power electronics, EMS, PPC, and control software are developed and manufactured in-house in Ylöjärvi, Finland.
Is Merus Power a public or private company?
Merus Power is a public company. It is classified as public and is currently operating.
When was Merus Power founded?
Merus Power was founded in 2009. It employs 101 to 250 people.
Where is Merus Power based?
Merus Power is headquartered in Ylöjärvi, Finland, in the Europe region.
How does Merus Power make money?
Four revenue lines are on record. Battery Energy Storage Systems (BESS) is the primary driver. The others are power Quality Solutions, service and Maintenance and market Participation Services.
Who are Merus Power's main competitors?
Broad incumbents on record are Sungrow, ABB, Tesla Energy (Megapack), Hitachi Energy and Siemens Energy. Direct peers are Leclanché, Fluence, Wärtsilä Energy Storage, Eaton and NHOA Energy (Engie).
Does Merus Power have an API?
No public API is recorded for Merus Power.
What industry is Merus Power in?
Merus Power's product category is Power Electronics and Energy Storage. Its primary akta.pro industry code is EUAFAAAB, BESS EPC, Integration & Commissioning, with a secondary code of EUAEAEAA, Utility-Scale BESS EPC & Integration. Its NAICS code is 33531 and its SIC code is 3600.