Board Update

Tallinn, Estonia: Elcogen Group Plc, the European manufacturer of clean energy technology that delivers affordable green hydrogen and emission-free electricity, is pleased to announce the appointment of Markus Holm as CFO of Elcogen Group and an executive member of the Board of Directors. He is replacing Henri Kaar who has decided to step down from his roles with the Company.

Elcogen receives €24 million investment from HydrogenOne

Tallinn, Estonia: Elcogen AS (“Elcogen” or “the Company), the European manufacturer of clean energy technology that delivers affordable green hydrogen and emission-free electricity, is pleased to announce completion of EUR 24m (£20m) investment from HydrogenOne Capital Growth plc (“HydrogenOne”) to help expand its capabilities in enabling the production of green hydrogen using its reversible solid oxide cell technology.