Elcogen is awarded for €24.9 million grant from EU Innovation Fund to advance green hydrogen production in Europe

Tallinn, Estonia: Elcogen (“the Company”), a leading European manufacturer of technology that enables delivery of efficient, affordable green hydrogen and emission-free electricity, is pleased to announce its selection for the European Union’s 2024 Innovation Fund grant.

The €24.9 million grant will support Elcogen’s next phase in scaling up its manufacturing capacity of solid oxide electrolyser cell (“SOEC”) and solid oxide fuel cell (“SOFC”) cells and stacks in Estonia to support the energy transition and efficient production of green hydrogen.

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.

Projects were assessed across areas including capital expenditure (CAPEX), 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 deep carbonisation.

Enn Õunpuu, CEO, Elcogen, said: “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.”

Stefano Piscitelli, COO, Elcogen, added: “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.”

About Elcogen

Founded in 2001, Elcogen is a manufacturer of clean energy technology that delivers affordable green hydrogen and emission-free electricity. We are a European business with a proud Estonian heritage and a global customer network delivering flexible core solid oxide technology. Elcogen has its registered office in the UK, and manufacturing facilities in Estonia and Finland that have served 160 customers in 30 countries.

Elcogen develops and supplies the technology that sits at the heart of energy security and transition away from fossil fuels. We are focused on driving net-zero ambitions forward with a core, reversible technology that converts fuel sources into emission-free energy and emission-free energy into green hydrogen. Our solid oxide fuel cell (SOFC) and solid oxide electrolyser cell (SOEC) technology offers an efficient solution to green hydrogen production, reducing commercial costs so customers can deliver affordable energy solutions to meet net-zero targets.