Merus Power and Nefco agree on a EUR 5 million loan to accelerate growth and internationalization in the energy storage market

Merus Power and Nefco, the Nordic Green Bank, have agreed on a EUR 5 million loan to support Merus Power's internationalization and its ability to participate in increasingly large energy sector projects. The financing package supports Merus Power's position as one of the leading suppliers of energy storage and power quality solutions in the Nordic countries. 

"Securing financing is an important part of Merus Power's growth strategy, and this loan will help ensure that we have the resources to continue investing in international growth and new projects in Finland and elsewhere in Europe," says Kari Tuomala, CEO of Merus Power. 

The energy storage and power quality solutions developed by the company promote energy efficiency and the energy transition towards a carbon-neutral and flexible electricity grid. The company's goal is to ensure that its solutions meet the growing needs of the market, both in Finland and internationally. 

"Merus Power's technology and energy storage solutions support the green transition and the security of the electricity grid. The company's business is highly scalable and responds to growing demand in the fields of renewable energy, grid stability, and energy efficiency. We are proud to support their growth and thus contribute to the development of a sustainable energy system," comments Helena Lähteenmäki, Investment Director at Nefco. 

The financing from Nefco spans five years and is partially backed by a guarantee from the European Investment Fund (EIF). As a part of the InvestEU Programme, EIF guarantees enable more favorable loan terms and aim to accelerate the green transition while enhancing business competitiveness.

The original of this document has been made in Finnish. In case of any discrepancy, the Finnish version will prevail.