19.11.2025 | News
The growing need for energy storage increases demand for Finnish electricity storage and power quality solutions. Nefco’s financing enables international scaling and supports the share of renewable energy in power generation.
Nefco, the Nordic Green Bank, has signed a EUR 5 million loan agreement with Merus Power Plc, a Finnish designer and manufacturer of electrical energy storage systems and power quality solutions. The financing will support the company’s international expansions, with the aim of acquiring new customers in Northern and Central Europe.
Kari Tuomala, CEO of Merus Power, says: “Securing this financing from Nefco strengthens our ability to accelerate international growth and continue investing in our innovative electrical energy storage and power quality solutions. The support enables us to expand in key European energy storage markets while advancing a cleaner and more stable energy future.”
Renewable energy, as a share of the EU’s overall power mix, is targeted to rise from 23% in 2022 to at least 42.5% by 2030.* As a result, the need for energy storage is increasing — not only to meet these targets, but also to prevent grid instability and blackouts. The electrical energy storages and power quality systems designed, manufactured and sold by Merus Power, enable the growth of renewable energy by providing storage, facilitating integration into electric grids, and improving energy efficiency and power quality.
Since its establishment in 2008, Merus Power has provided power quality solutions to customers in industry, utility, infrastructure, and renewable energy applications in over 70 countries. Since 2020, the company has also offered electrical energy storage systems to its customers in Finland. At the end of 2024, Merus Power’s solutions had enabled 630 MW renewable energy connected to the grid and mitigated 240,000 tons CO2.**
Earlier this year, Nefco signed a guarantee agreement with the European Investment Fund (EIF), providing enhanced access to financing, on more favourable terms, for green Nordic SMEs. The loan agreement with Merus Power is Nefco’s first investment that is partially backed by EIF.
“Our agreement with the EIF aims to further bridge the financing gap and support the scale-up of Nordic green solutions. It’s a big milestone for us to now have signed the first loan agreement backed by EIF and by so, providing Merus Power – a well-established Finnish company – with the financing needed to continue its international growth,” explains Helena Lähteenmäki, Investment Director at Nefco.
For further information, please contact:
Kari Tuomala, CEO, Merus Power Plc
kari.tuomala@meruspower.com, +358 20 7354 320
Helena Lähteenmäki, Investment Director, Nefco
helena.lahteenmaki@nefco.int, +358 10 6180 633
* According to the EU‘s Renewable Energy Directive
** According to Merus Power‘s Annual Report 2024
About Merus Power Oy
Merus Power is a technology company driving the sustainable energy transition. We design and produce innovative electrical engineering solutions such as energy storages and power quality solutions, and services for the needs of renewable energy and industry. Through our scalable technology, we facilitate the growth of renewable energy in the electricity grids and improve the energy efficiency of society. We are a domestic specialist in innovative electrical engineering and operate in global and high-growth markets. Our personnel represent internationally renowned engineering expertise.
About the EIF
The European Investment Fund is part of the European Investment Bank Group. Its central mission is to support Europe’s small and medium-sized enterprises (SMEs) by helping them access financing. The EIF guarantees provided by Nefco are part of the InvestEU programme.
