Elcogen, a leading Estonian manufacturer of green hydrogen technology, has been awarded a €24.9 million grant from the EU’s 2024 Innovation Fund. This funding will help scale up their production of solid oxide electrolyser cells and solid oxide fuel cells and stacks in Estonia, advancing the energy transition.

The Innovation Fund is one of the world’s largest programmes dedicated to supporting innovative low-carbon technologies, selecting 85 projects to award €4.8 billion in 2024. Through the development of clean technologies, these projects aim to reduce greenhouse gas emissions by 476 million tonnes of CO2 over 10 years.

“This grant is a testament to the EU’s commitment to fostering a competitive green hydrogen production value chain across Europe.”
Enn Õunpuu, CEO of Elcogen

Projects were assessed across areas including capital expenditure, scale and focus, and included initiatives in cleantech manufacturing (component manufacturing for renewable energy, energy storage, heat pumps and hydrogen production) and projects focused on decarbonation.

“We are honoured to receive this recognition and support from the European Union. This grant is a testament to the EU’s commitment to fostering a competitive green hydrogen production value chain across Europe, highlighting the importance of scaling up in order to meet the energy transition demands we face,” said Enn Õunpuu, CEO, Elcogen.

The grant supports green transition

“This award underlines Elcogen’s key role as a provider of efficient, affordable green hydrogen and highlights the impact our state-of-the-art facility will have on Europe’s green energy transition. Our team has worked extensively to advance technologies that will drive sustainable energy solutions, and this grant supports us in our journey,” added Stefano Piscitelli, COO, Elcogen.

In April, the US Baker Hughes group announced that it is making a strategic investment in the Estonian hydrogen technology company Elcogen. The company has now raised more than €140m to continuously develop and scale its market-leading solid oxide technology, enabling affordable green hydrogen and accelerating the energy transition. 

Founded in 2001, Elcogen is a manufacturer of clean energy technology that delivers affordable green hydrogen and emission-free electricity. Elcogen has its registered office in the UK, and manufacturing facilities in Estonia and Finland that have served 160 customers in 30 countries.

GOOD TO KNOW

• Founded in 2001, Elcogen is a manufacturer of clean energy technology that delivers green hydrogen and emission-free electricity.
• Elcogen has its registered office in the UK and manufacturing facilities in Estonia and Finland, which have served 160 customers in 30 countries.
• Elcogen develops and supplies technology that plays a crucial role in energy security and the transition away from fossil fuels. The company is dedicated to advancing net-zero ambitions with its technology, which transforms fuel sources into emission-free energy and converts that energy into green hydrogen.
• Elcogen’s solid oxide fuel cell (SOFC) and solid oxide electrolyzer cell (SOEC) technologies provide a solution for green hydrogen production, reducing commercial costs so customers can deliver affordable energy solutions to meet net-zero targets.
• The company has now raised more than €140m for continuously developing and scaling its market-leading solid oxide technology.

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