Elcogen is pleased to have been named one of TIME Magazine’s “World’s Top GreenTech Companies of 2025,” as part of a comprehensive ranking developed in partnership with Statista, the global provider of market and consumer data. This esteemed recognition, revealed on March 25, 2025, highlights companies worldwide that are significantly contributing to reducing the environmental impact of human activities.
TIME and Statista’s global analysis examined over 8,000 companies developing innovative solutions to combat climate change, spotlighting organisations making a positive environmental impact through their products, services, and technologies. Elcogen’s inclusion on the top 250 listing reflects the company’s commitment to driving sustainable transformation of the energy sector with technological advancements that mitigate its negative impact on the environment.
The study evaluated companies based on three key criteria: positive environmental impact, innovation drive, and financial strength. Elcogen earned its place on the list by excelling in these areas, with a focus on creating groundbreaking technologies that support renewable energy solutions and the reduction of carbon emissions.
“We are incredibly proud to be recognised by TIME as one of the leading green technology companies worldwide,” said Enn Õunpuu, CEO of Elcogen. “This achievement reflects the hard work of everyone in our organisation and our ongoing efforts to create a more sustainable future for all. The global energy sector must transition to a climate-neutral, renewable economy by 2050. Solid oxide fuel cell and electrolysis technologies will play a crucial role in this shift.”
Elcogen develops solid oxide fuel cell and electrolysis technologies that produce affordable green hydrogen and zero-emission electricity for various sectors, from residential to large-scale industrial. Green hydrogen derived from renewable energy sources is especially key to decarbonising hard-to-abate sectors, such as steel production.
The company’s patented components are used in third-party systems for applications such as combined heat and power generation, green hydrogen production, renewable energy storage, and syngas production for synthetic fuels and chemicals. On route to a fossil-free future, Elcogen’s scalable, eco-friendly power solutions enhance energy security by supporting low-carbon transition fuels, such as biogas and natural gas, and enabling reliable, localised power in island mode, ensuring energy supply even during grid disruptions.
Investments from prominent players such as Baker Hughes and HD Hyundai, along with a significant grant awarded by the EU Innovation Fund, serve as a strong endorsement of Elcogen’s technology and long-term vision. Their backing highlights the confidence global leaders have in the firm’s solutions and potential to transform the energy landscape.
“Partnerships are vital for progress. At Elcogen, our continued close collaboration with loyal partners and system integrators has been instrumental in developing clean energy solutions that will have a lasting impact on the planet. Our shared goals and their trust empower us to deliver tangible solutions that drive meaningful change,” said Õunpuu.
This year, Elcogen will open a new state-of-the-art 14,000 square meter production facility in Tallinn, Estonia, boosting capacity from 10 to 360 megawatts to meet the growing global demand.
Elcogen contact:
Laura Quinton
Communications Manager
laura.quinton@elcogen.com
+358 45 616 3133
About Elcogen
Elcogen develops and supplies solid oxide fuel cell and electrolysis technologies, enabling the production of affordable green hydrogen and emission-free electricity across diverse sectors, from residential to large-scale industrial applications. Founded in 2001, the Company has its registered office in the UK, its main headquarters in Tallinn, Estonia, and R&D centres of excellence in both Estonia and Finland.
Serving a growing global customer base, Elcogen’s fuel cells, stacks, and modules are integrated into third-party systems, delivering exceptional performance and reliability. In addition to the supply of components, Elcogen offers comprehensive services to support technology integration, ensuring seamless adoption and optimal functionality of its solutions in various applications. These systems are designed to unlock the full potential of renewable energy, offering superior efficiency compared to traditional technologies. Together with its partners, Elcogen is shaping a sustainable energy landscape and leading the way to a net-zero future.
