Estonian green tech firm Elcogen has received a €24.9 million grant from the European Union's 2024 Innovation Fund, aimed at enhancing its production capacity for solid oxide electrolyzers and fuel cells. These technologies support efficient green hydrogen production, a critical element in Europe's push toward sustainable energy solutions.
Elcogen's CEO Enn Õunpuu expressed appreciation for the grant, noting that it underscores the EU's commitment to developing a competitive green hydrogen value chain. “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,” said Õunpuu.
The Innovation Fund, one of the world's largest financial mechanisms for low-carbon tech innovation, selected 85 projects for funding, totaling €4.8 billion. This initiative targets greenhouse gas reductions of 476 million tonnes of CO₂ over the next decade. The chosen projects include efforts across cleantech manufacturing, energy storage, heat pumps, hydrogen production, and deep carbonization efforts.
Stefano Piscitelli, Elcogen's COO, highlighted the significance of the grant for advancing the company's green hydrogen initiatives. “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,” he said.
Elcogen's expansion aligns with the EU's long-term strategy for reducing emissions and enhancing energy security, with the company positioned to play a pivotal role in Europe's transition to a low-carbon energy system.
