Merus Power Oyj
Merus Power Oyj is a Finnish technology company that designs, manufactures and sells electrical power solutions for grid-connected energy systems. Its core offering includes energy storage systems, power quality solutions and related services, with production and engineering centered in Ylöjärvi and sales reach across more than 70 countries.
Fiscal year 2025 · change from previous year
Development 2020–2025
Business
Share of revenueBattery-based and grid-support storage solutions used to balance renewable generation and improve system flexibility.
Equipment that reduces disturbances in electrical networks and improves reliability for connected assets.
Engineering, installation and commissioning services tied to customer deployments.
Ongoing maintenance, support and optimization for installed systems.
Customers
Merus Power sells to industrial customers, power generation operators and renewable energy developers that need grid stability, energy efficiency and renewable integration. Its solutions are also used by electricity market participants and other organizations that require power quality improvement or reserve capacity services.
Buy power quality and storage solutions to reduce disturbances, protect equipment and improve uptime.
Buy grid-support and storage systems to help connect generation assets and manage variability.
Buy storage and grid integration solutions to connect solar, wind and other renewable projects.
Use storage assets and related control systems for balancing and reserve market participation.
Buy maintenance, commissioning and lifecycle support for existing Merus Power systems.
Strategy
Merus Power’s strategy is built around scalable power electronics, software-enabled control and in-house engineering to capture growth from electrification and the energy transition. The company is also expanding the installed base that supports recurring service demand and strengthening its position in power quality and storage markets through international sales channels and partnerships.
Storage demand rises with renewable generation and grid flexibility needs.
Power quality products address reliability needs in industrial and grid applications.
A larger installed base can create more predictable lifecycle and support demand.
Export markets diversify demand and increase access to large renewable and grid projects.
Geography
Merus Power is headquartered and manufactures in Ylöjärvi, Finland, and it operates sales offices or fixed establishments in several international locations. The company has a broad export footprint, with deliveries to more than 70 countries and a stated focus on growth across Europe while maintaining global market reach.
Risks
Merus Power is exposed to project execution risk, supplier quality risk and demand cyclicality because its business depends on engineered systems delivered into capital-intensive customer projects. It also faces cybersecurity, regulatory and geopolitical exposure from operating across multiple jurisdictions and from the increasing digital content of its products and services.
- Project execution and delivery riskImpact: HighLikelihood: High
Systems are engineered-to-order and require installation and commissioning.
Exposure: Large customer projects and international deployments
- Cybersecurity and data protection riskImpact: HighLikelihood: Medium
Products and operations contain software and customer data, increasing attack surface.
Exposure - Market demand and investment cycle riskImpact: MediumLikelihood: High
Storage and power quality demand depends on renewable, grid and industrial investment.
Exposure: Europe and global project markets
- Supplier quality and ESG riskImpact: Medium
The company relies on external suppliers for components and has identified ESG assessment gaps.
Exposure: Hardware sourcing and subcontracted work
- Regulatory and sanctions compliance riskImpact: Medium
International operations require screening of counterparties and compliance with EU rules.
Exposure: Cross-border sales and partner relationships
Accounting
Judgemental itemsSales may include equipment, installation and commissioning, which can be recognized at different times.
Impact: Affects revenue timing and comparability between quarters
Engineered projects require judgment on completion costs and expected profitability.
Impact: Can materially affect reported margins and earnings
Delivered electrical systems may create future service or defect obligations.
Impact: Affects operating expenses and liabilities
Technology companies often capitalize development-related assets that must be tested for recoverability.
Impact: Could lead to non-cash impairment charges
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Last updated: 24/09/2026