Elcogen, a prominent European manufacturer of advanced clean energy technologies, has been awarded a €24.9m grant from the European Union’s 2024 Innovation Fund.
This substantial funding will accelerate Elcogen’s production of solid oxide electrolyser cells (SOEC) and solid oxide fuel cells (SOFC) at its facility in Estonia, boosting its green hydrogen production capacity.
This development marks a significant step in Europe’s efforts to transition to clean energy, with green hydrogen production as a critical component.
Enn Õunpuu, CEO of 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.”
EU Innovation Fund invests in low-carbon technologies
Elcogen’s grant is part of the EU Innovation Fund, one of the world’s largest funding programmes focused on advancing low-carbon solutions.
With a total budget of €4.8bn for 2024, the Innovation Fund selected 85 projects aimed at driving down greenhouse gas emissions by an estimated 476 million tonnes of CO₂ over the next decade.
The chosen projects span a range of sectors, including renewable energy, energy storage, heat pump technology, and hydrogen production, all designed to contribute to the EU’s aggressive climate targets.
Projects receiving funding, like Elcogen’s, are evaluated on their potential to reduce emissions, their capital expenditure (CAPEX), and their ability to scale.
Elcogen’s innovative SOEC and SOFC technologies, which convert renewable energy into green hydrogen and emission-free electricity, fit the Fund’s vision for a decarbonised Europe.
Green hydrogen: A pillar of Europe’s energy transition
Green hydrogen is increasingly recognised as essential for Europe’s shift to a sustainable energy system.
Produced through electrolysis powered by renewable sources, green hydrogen offers a clean alternative to fossil fuels in industries that are hard to decarbonise, such as heavy manufacturing, transportation, and heating.
In contrast to grey hydrogen, which relies on natural gas and generates significant CO₂ emissions, green hydrogen is produced without harmful environmental impacts, making it vital for achieving the EU’s net-zero goals by 2050.
The role of green hydrogen production is particularly crucial for Europe, as it aims to reduce dependency on imported fossil fuels and achieve energy security.
Companies like Elcogen are poised to help Europe reach these ambitious objectives by providing reliable, scalable green hydrogen solutions.
Stefano Piscitelli, COO of 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.”
Future prospects for green hydrogen
With EU backing, Elcogen’s manufacturing expansion aligns with Europe’s broader energy transition strategy.
As green hydrogen production scales, it will help to decarbonise Europe’s economy, drive clean industrial growth, and create new employment opportunities across the region.
