PowerUp Fuel Cells OÜ
Active Registry code 14110442
OÜ Tallinn Registered 8 Sep 2016
PowerUp Fuel Cells OÜ is a OÜ based in Tallinn, registry code 14110442, status: active. Main activity: Research and experimental development on natural sciences and engineering. According to EMTA, turnover for Q3 2026 was €151 815 with 31 employees.
Turnover
151 815 €
↓ 15.8% vs Q2 2026
State taxes
142 726 €
↓ 25.1% vs Q2 2026
Labour taxes
159 040 €
↓ 22.0% vs Q2 2026
Employees
31
−3 vs Q2 2026
Q3 2026 · data from the Tax and Customs Board (EMTA)
Position in the industry
- Turnover · Q3 2026 151 815 €above 87% of companiesindustry median 14 442 € · companies in the industry: 318
- Labour taxes per employee 5 130 €above 81% of companiesindustry median 2 218 € · companies in the industry: 234
- Revenue · 2024 200 966 €above 95% of companiesindustry median 0 € · companies in the industry: 1 053
- Net profit margin · 2024 -867.1 %above 2% of companiesindustry median 15.8 % · companies in the industry: 617
Taxes and turnover
- Company
- Industry median
Industry: Scientific research and development (the EMTAK division of the main activity). Median: half of the industry is above, half below.
- Company
- Industry median
Industry: Scientific research and development (the EMTAK division of the main activity). Median: half of the industry is above, half below.
| Quarter | Turnover, € | State taxes, € | Labour taxes, € | Employees |
|---|---|---|---|---|
| Q3 2026 | 151 815 | 142 726 | 159 040 | 31 |
| Q2 2026 | 180 357 | 190 480 | 203 842 | 34 |
| Q1 2026 | 183 192 | 176 684 | 191 407 | 33 |
| Q4 2025 | 210 683 | 184 010 | 196 899 | 30 |
| Q3 2025 | 106 476 | 86 757 | 94 761 | 31 |
| Q2 2025 | 168 747 | 88 848 | 100 668 | 33 |
| Q1 2025 | 84 457 | 153 056 | 161 449 | 30 |
| Q4 2024 | 50 261 | 140 477 | 148 298 | 30 |
| Q3 2024 | 32 371 | 114 232 | 122 400 | 30 |
| Q2 2024 | 41 811 | 134 054 | 141 249 | 30 |
| Q1 2024 | 53 955 | 89 585 | 98 288 | 26 |
| Q4 2023 | 51 899 | 141 401 | 149 128 | 28 |
| Q3 2023 | 93 127 | 132 148 | 138 307 | 31 |
| Q2 2023 | 186 450 | 119 601 | 125 612 | 29 |
| Q1 2023 | 46 161 | 105 023 | 112 900 | 33 |
| Q4 2022 | 41 854 | 132 197 | 140 115 | 29 |
| Q3 2022 | 81 569 | 169 493 | 174 610 | 32 |
| Q2 2022 | 120 325 | 95 294 | 95 852 | 32 |
| Q1 2022 | 97 702 | 109 467 | 115 221 | 38 |
Labour taxes per employee per month
1 710 €
Turnover per employee in the quarter
4 897 €
Q3 2026 · calculated from EMTA data
Financials by year
- Company
- Industry median
Industry: Scientific research and development (the EMTAK division of the main activity). Median: half of the industry is above, half below.
- Company
- Industry median
Industry: Scientific research and development (the EMTAK division of the main activity). Median: half of the industry is above, half below.
- Company
- Industry median
Industry: Scientific research and development (the EMTAK division of the main activity). Median: half of the industry is above, half below.
- Company
- Industry median
Industry: Scientific research and development (the EMTAK division of the main activity). Median: half of the industry is above, half below.
| Year | Revenue, € | Net profit, € | Labour costs, € | Assets, € | Equity, € | Employees |
|---|---|---|---|---|---|---|
| 2025 | — | — | — | — | — | 27 |
| 2024 | 200 966 | -1 742 568 | 1 333 619 | 1 060 427 | -3 675 751 | 24 |
| 2023 | 271 399 | -1 442 895 | 1 334 343 | 1 154 275 | -1 950 949 | 27 |
| 2022 | 81 727 | -1 624 839 | 1 398 209 | 1 012 244 | -518 755 | 28 |
| 2021 | 118 796 | -457 902 | 670 543 | 543 343 | -415 934 | 19 |
| 2020 | 18 497 | -2 558 | 25 728 | 227 312 | 41 968 | 8 |
| 2019 | 12 135 | -15 720 | 36 279 | 65 520 | -8 074 | 4 |
| 2018 | — | — | — | — | — | 1 |
| 2017 | — | — | — | — | — | 0 |
Figures from the company’s own (non-consolidated) balance sheet and income statement. A loss is shown with a minus sign.
Financial ratios for 2024
Net profit margin
-867.1 %
Net profit / revenue
Return on assets (ROA)
-164.3 %
Net profit / assets
Equity ratio
-346.6 %
Equity / assets
Debt ratio
446.6 %
Liabilities / assets
Current ratio
0.05
Current assets / current liabilities
Revenue per employee
8 374 €
Revenue / average full-time employees
Labour cost per employee per month
4 631 €
Labour costs / employees / 12 months (incl. employer taxes)
Annual reports
| Year | Period | Filed | Report | Documents |
|---|---|---|---|---|
| 2024 | 1 Jan 2024 – 31 Dec 2024 | 27 Sep 2025 | Company’s own · audited | e-Äriregister |
| 2023 | 1 Jan 2023 – 31 Dec 2023 | 2 Aug 2024 | Company’s own · audited | e-Äriregister |
| 2022 | 1 Jan 2022 – 31 Dec 2022 | 1 Jul 2023 | Company’s own · audited | e-Äriregister |
| 2021 | 1 Jan 2021 – 31 Dec 2021 | 30 Jun 2022 | Company’s own | e-Äriregister |
| 2020 | 1 Jan 2020 – 31 Dec 2020 | 20 Jul 2021 | Company’s own | e-Äriregister |
| 2019 | 1 Jan 2019 – 31 Dec 2019 | 24 Sep 2020 | Company’s own | e-Äriregister |
Board
- Ivar KruusenbergBoard member · since 8 Sep 2016
Right of representation
Any member of the management board may represent the private limited company in all transactions.
Owners
- Ivar KruusenbergNatural person · 2 500 €
- AS AMALFILegal person · 10411419 · 463 €
- OÜ Vee PerearstikeskusLegal person · 11199192 · 202 €
- Aktsiaselts ESPAK ViljandiLegal person · 10276200 · 83 €
- Aktsiaselts Direct ConsultingLegal person · 10575472 · 47 €
- Hillside Capital OÜLegal person · 16433333 · 47 €
- See Seaside OÜLegal person · 16212550 · 47 €
- UG Investments OÜLegal person · 12467306 · 47 €
- VILPAK OÜLegal person · 12589216 · 42 €
- Sinrob OÜLegal person · 14179008 · 38 €
- CNC 21 Venture co-invest 2021 ABLegal person · 32 €
- CACM OÜLegal person · 14697358 · 25 €
- Business MENTOR OsaühingLegal person · 11789054 · 25 €
- JPM International Inc.Legal person · 24 €
- PRAVI INVESTEERINGUD OÜLegal person · 10843917 · 24 €
- Joakim Fredrik BjarkeNatural person · 12 €
- Johanna Ulrika BjarkeNatural person · 12 €
Beneficial owners
- Ivar KruusenbergDirect ownership · since 11 Mar 2020
Founders and other persons
- Ivar KruusenbergFounder · 2 500 € · 7 Sep 2016
Related companies
Activities (EMTAK)
- 72101Research and experimental development on natural sciences and engineering Main
Rulings
All rulings (PDF)| Number, date | Title | Deadline | State | Document |
|---|---|---|---|---|
| Ä 50036715 / 11 3 Mar 2025 |
Amendment entry | In force 3 Mar 2025 |
||
| Ä 50036715 / M5 11 Jul 2024 |
Warning of a fine: annual report not filed | 10 Aug 2024 | Deficiencies eliminated 3 Aug 2024 |
|
| Ä 50036715 / 10 31 Jan 2024 |
Amendment entry | In force 31 Jan 2024 |
||
| Ä 50036715 / M4 16 Jan 2024 |
Ruling to eliminate deficiencies | 2 Feb 2024 | Deficiencies eliminated 31 Jan 2024 |
|
| Ä 50036715 / 9 1 Sep 2023 |
Amendment entry | In force 1 Sep 2023 |
||
| Ä 50036715 / 8 22 Apr 2022 |
Amendment entry | In force 22 Apr 2022 |
||
| Ä 50036715 / 7 23 Sep 2020 |
Amendment entry | In force 23 Sep 2020 |
||
| Ä 50036715 / 6 11 Nov 2019 |
Amendment entry | In force 11 Nov 2019 |
||
| Ä 50036715 / M3 25 Oct 2018 |
Procedural ruling | In force 25 Oct 2018 |
||
| Ä 50036715 / 5 20 Jan 2018 |
Amendment entry | In force 20 Jan 2018 |
||
| Ä 50036715 / 4 19 Dec 2017 |
Amendment entry | In force 19 Dec 2017 |
||
| Ä 50036715 / 3 12 Dec 2017 |
Amendment entry | In force 12 Dec 2017 |
||
| Ä 50036715 / 2 14 Feb 2017 |
Amendment entry | In force 14 Feb 2017 |
||
| Ä 50036715 / M2 8 Sep 2016 |
Ruling to eliminate deficiencies | 23 Sep 2016 | Deficiencies eliminated 8 Sep 2016 |
|
| Ä 50036715 / M1 8 Sep 2016 |
Ruling to eliminate deficiencies | 23 Sep 2016 | Deficiencies eliminated 8 Sep 2016 |
|
| Ä 50036715 8 Sep 2016 |
First entry | In force 8 Sep 2016 |
Sources: e-Äriregister and EMTA. Data updated 1 Nov 2026. Open at the source ↗ · Report an error in the data