PowerUP Energy Technologies has raised €10 million in Series A funding to accelerate the production and global deployment of its hydrogen fuel cell generators, a technology aimed at strengthening energy security across both defense and commercial markets.
The round was co-led by dual-use venture investors Mercaton Investment Group and ScaleWolf, with participation from Estonia’s SmartCap Green Fund, which is supported by NextGenerationEU. The company said the new capital will help scale its manufacturing capabilities and expand its network of distributors, resellers, and strategic partners worldwide.
PowerUP emphasized that its hydrogen-powered generators are engineered for extreme environments and are increasingly sought after for national-security-grade applications as well as mission-critical commercial use cases. The company positions its technology as a pathway to greater energy independence at a time of rising global demand for resilient, zero-emission power solutions.
According to PowerUP, the investment marks a major milestone that will enable broader commercialization and support the development of next-generation systems. The company highlights its dual-use strategy as central to its mission of advancing global energy sovereignty.
