Founded in 2001, Elcogen develops proprietary solid oxide fuel cell (SOFC) and solid oxide electrolyser cell (SOEC) technology to enable efficient production of green hydrogen and electricity. Its systems are intended to support heavy‑industry decarbonisation and wider energy‑transition goals. The company manufactures in Estonia and Finland and has served about 160 customers across 30 countries. Elcogen is continuing a development program while expanding manufacturing capacity to meet rising demand. Planned capital will support construction of a new factory in Tallinn with up to 360MW of manufacturing capacity. Strategic partnerships, including collaboration with Baker Hughes and HD Hyundai, are positioned to help commercialise SOEC‑based green hydrogen solutions.

Total raised

$152M

Funding rounds

3

Latest round

Grant

Latest activity

Apr 2024