Elcogen Secures €5M to Scale Green Hydrogen Solutions

CleanTech company Elcogen has raised €5M from SmartCap to expand its dual hydrogen technology and build a new 14,000 m² facility at Loovälja Industrial Park.

Elcogen’s platform combines solid oxide fuel cells (SOFC) and solid oxide electrolyser cells (SOEC) — producing hydrogen from renewable energy and converting it back into electricity when needed. The goal: make green hydrogen affordable and scalable.

SmartCap CEO Sille Pettai says the investment will help boost Europe’s energy security and speed up the green transition. Elcogen CEO Enn Õunpuu adds that the new plant will significantly increase production capacity.

Founded in 2001, Elcogen has already raised over €140M from investors including Baker Hughes, Hydrogen One, and the European Commission — and is now one of the leading players in Europe’s growing hydrogen ecosystem.