SmartCap among investors backing PowerUp’s €10M round

SmartCap Green Fund has joined Mercaton, ScaleWolf and existing investors in a €10 million Series A investment to accelerate the growth of PowerUP Fuel Cells’ dual-use hydrogen technologies.

The funding supports PowerUp’s ambition to deliver battle-tested, reliable and zero-emission energy solutions for both defence and critical commercial applications, including essential infrastructure, telecommunications and security systems.

WALLESS advised SmartCap on this transaction. Partner Rolan Jankelevitsh and Counsel Kaisa Üksik led the team, with contributions from Associate Johanna Maksing, Counsel Katrin Alliksaar, Associate Laura Melk, Senior Associate Liis Hiie and Senior Associate Margus Kõiva.