HydrogenOne Capital Growth to invest €24 million in Elcogen

The investment will support Elcogen’s planned expansion of its facilities in Tallinn to create a new, automated production line for solid oxide fuel cells and stacks, initially scaled at 25 MW/year, rising to 50 MW/year (equivalent to 100–200 MW in electrolysis mode).

Solid oxide fuel cells and electrolysers can run with efficiency greater than 80%. Elcogen’s reversible ceramic technology can be applied to a broad range of residential, industrial, and commercial applications, and is distinguished by its ability to operate at relatively low temperatures, resulting in superior economics and long-life facilities.

Simon Hogan, Chairman of HydrogenOne, said: “There is substantial demand for fuel cells and electrolysers as the clean hydrogen sector continues to grow at rapid pace. We look forward to supporting the company on its growth journey as it expands its solid oxide capacity for customers. HydrogenOne continues to deploy our investors’ capital into distinctive and high potential hydrogen assets.”

Enn Õunpuu, CEO of Elcogen, added: “This investment from HydrogenOne will enable us to continue to develop our cutting-edge technology, grow our customer base and revenues, and scale production to drive net-zero ambitions forward.”

HTW Editorial Team

HTW Editorial Team

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