Merus Power provides a compensator worth nearly 4 million euros to Saudi Arabia
Merus Power Plc, press release, 25 July 2024 at 11:00 Merus Power will supply a Static Synchronous Compensator to support the operation of an electric arc furnace at an ilmenite smelter located in Saudi Arabia. The ilmenite smelter project was originally delivered by Outotec, which merged with Metso in 2020. Metso and ASIC have agreed on the refurbishment and modernization of the plant's second furnace, which is expected to be operational by 2025. The delivery of Merus Power's compensator is estimated to take place in the summer 2025. The contract between Merus Power and Metso is