Tallinn-based PowerUP Energy Technologies has secured a €10 million Series A round to scale its hydrogen fuel-cell generators, a dual-use technology already proven in extreme operational environments. The round was co-led by defence-aligned venture firms Mercaton and ScaleWolf, with participation from SmartCap’s EU-backed Green Fund and existing investors. PowerUP develops silent, emission-free hydrogen generators used across defence, telecom, and industrial settings, with recent deployments—including in Ukraine—demonstrating their reliability under pressure. The fresh capital will accelerate manufacturing, expand sales operations across new commercial and defence markets, and advance R&D on higher-density models as the company pushes to meet rising international demand for resilient, off-grid power.
The company develops modular hydrogen generators designed for silent, emission-free operation in environments where reliability and low detectability are essential. PowerUP’s systems have been deployed in a variety of field conditions, including in Ukraine, where the company says the technology demonstrated reliability under extreme operational stress. Its dual-use positioning has led to growing interest from defence customers as well as telecom, security, and industrial partners seeking alternatives to diesel-powered systems.
Founder and CEO Ivar Kruusenberg said the company’s focus has always been on producing systems that can operate where conventional solutions fall short.
“PowerUP was founded on a clear mission: to deliver clean, reliable energy solutions. While other technologies are still being tested in labs, ours has already been battle-tested on the front lines in Ukraine. This is the very definition of dual-use innovation: a cleantech solution that has been forged and validated by the urgent needs of defence,” said Ivar Kruusenberg, Founder and CEO of PowerUP Energy Technologies. “This capital will directly allow us to expand our network of resellers, distributors and partners in defence and in the commercial sector.”
Investors point to the combination of operational validation and commercial applicability as a key driver of the round.
“At ScaleWolf, we value technologies that strengthen security and resilience where it matters most. PowerUP has shown that its systems can deliver dependable power in demanding environments, supporting both defence missions and essential civilian operations. We are proud to back a team that turns proven performance into meaningful dual-use capability,” said Dave Harden, Partner at ScaleWolf.
SmartCap also highlighted the relevance of the technology for sectors undergoing green transition as well as shifting defence requirements.
“PowerUP is a great example of a broadly applicable green technology company that can capture the changing market opportunities of green transition and quickly address new market needs in defence. PowerUP develops and manufactures hydrogen fuel cell generators as main power, backup power or battery extender solutions for reliable and sustainable energy. This has also turned to be a critical technology for modern defence and security applications, like enabling advanced communication networks and surveillance systems with low noise, vibration, and heat signature, where choice of tech is driven first and foremost by reliability and performance rather than climate objectives,” said Sille Pettai, Managing Director of SmartCap.
PowerUP plans to allocate the funding toward scaling production, expanding sales and support teams in Europe and North America, and accelerating development of higher-density models for diverse power requirements. The company is also establishing new sales and support hubs in key target markets to meet rising interest from both defence and commercial clients.
Founded in 2016, PowerUP’s technology is rooted in early work developed with the European Space Agency. Today, the company is positioning its hydrogen systems as a dependable option for remote operations, sensitive military units, and critical civilian infrastructure such as telecommunications towers and shelters, amid a broader push in Europe for energy resilience and low-emission power alternatives.
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Read the orginal article: https://arcticstartup.com/powerup-raises-e10-million-series-a/
