Estonia-based green technology manufacturer Elcogen has secured a €25m grant from the European Union’s 2024 Innovation Fund grant.
The €24.9m funding will support the company’s next phase in scaling up its manufacturing capacity of solid oxide electrolyser and solid oxide fuel cells and stacks in Estonia to support the energy transition and efficient production of green hydrogen.
The Innovation Fund is one of the world’s largest programmes dedicated to supporting innovative low-carbon technologies, selecting 85 projects to award €4.8bn in 2024.
Through the development of clean technologies, these schemes aim to reduce greenhouse gas emissions by 476 million tonnes of CO2 over 10 years.
Projects were assessed across areas including capital expenditure, scale and focus, and included initiatives in cleantech manufacturing (component manufacturing for s, energy storage, heat pumps and hydrogen production) and projects focused on deep carbonisation.
Elcogen chief executive Enn Õunpuu 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.”
Elcogen chief operating officer Stefano Piscitelli 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.