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Elcogen logo — #fuelcells #SOFC #greenhydrogen #electrolyser #SOEC

Elcogen

#fuelcells #SOFC #greenhydrogen #electrolyser #SOEC

Founded 2001 Estonia Estonia 81 employees Corporate Round Total: $105.11M ESG, Energy +4

General Information

Company Name Elcogen
Founded Year 2001
Location Estonia Estonia
Employees 81
Industries ESG, Energy, Manufacturing +3
Funding Stage Corporate Round
Social

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About Elcogen

Elcogen, a European clean energy technology manufacturer, boasts a rich Estonian heritage and a global clientele across 30 countries. The company, founded in 2001 and headquartered in Estonia, specializes in solid oxide fuel cell (SOFC) and solid oxide electrolyzer cell (SOEC) technology. Elcogen's recent €45.00M Corporate Round investment on 11 October 2023 from Korea Shipbuilding & Offshore Engineering underscores its growing prominence. Elcogen's focus on delivering affordable green hydrogen and emission-free electricity aligns with the global push for net-zero targets. Their technology serves as a core component in energy security and the transition away from fossil fuels. By converting fuel sources into emission-free energy and, in turn, into green hydrogen, Elcogen's SOFC and SOEC technology presents an efficient solution for green hydrogen production, thus reducing commercial costs and aiding customers in meeting net-zero targets. With manufacturing facilities in Estonia and Finland, Elcogen caters to 160 customers worldwide, operating within the Energy, Manufacturing, Renewable Energy, and Clean Energy industries. The company's recent investment highlights its potential to drive impactful change in the clean energy sector, positioning it as an intriguing prospect for potential venture capital opportunities.

Business keywords: Fuel Cells, SOFC, Green Hydrogen, Electrolyser, SOEC, Clean Energy Technology, Emission-Free Electricity, Energy Security, Net-Zero Ambitions, Solid Oxide Fuel Cell, Solid Oxide Electrolyser Cell, Affordable Energy Solutions, Fossil Fuel Transition, European Business, Global Customer Network

Funding Rounds & Investors (7)

View All
Funding Stage Amount Investors Lead Investors Date
Corporate Round €31.00M 1
Baker Hughes
Baker Hughes
03 Apr 2024
Corporate Round €45.00M 1
Korea Shipbuilding & Offshore Engineering
11 Oct 2023
Grant Undisclosed 1
European Commission
27 Sep 2023
Venture Round $24.00M 1
HydrogenOne Capital
09 May 2022
Grant €2.56M 1
EASME - EU Executive Agency for SMEs
01 Sep 2018
Grant €50.00K 1
EASME - EU Executive Agency for SMEs
02 Feb 2015
Venture Round €2.50M 1
VNT Management
VNT Management
05 Aug 2008

Latest News

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The Baltics’ fastest-growing startup teams — Sifted
The Baltics’ fastest-growing startup teams
Sifted Nov 23, 2025
Deep roots, global reach: Estonia’s tech ecosystem — Tech
Deep roots, global reach: Estonia’s tech ecosystem
Tech May 15, 2025
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EIC Scaling Club'a katılan 72 teknoloji şirketi
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$145M for Pigment's business forecasting, Easop acquired by Remote, and German startups to watch — Tech
$145M for Pigment's business forecasting, Easop acquired by Remote, and German startups to watch
Tech Apr 05, 2024

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Elcogen vs
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FAQ About Elcogen

#fuelcells #SOFC #greenhydrogen #electrolyser #SOEC
Elcogen was founded in 2001.
Elcogen is headquartered in Estonia.
Elcogen operates in ESG, Energy, Manufacturing, Renewable Energy, Clean Energy and Oil and Gas. Its work centres on Fuel Cells, SOFC, Green Hydrogen and Electrolyser.
Elcogen has approximately 81 employees.
Elcogen has completed 7 funding rounds, raising a total of $105.11M. The latest funding stage is Corporate Round.
Top alternatives and competitors to Elcogen include Electriq Global, TES, Ceres, Sunfire, Enapter. These companies operate in related industries and serve comparable markets. You can compare them side by side on Bounce Watch.
Elcogen and Electriq Global are both companies in similar industries. Compare their funding, team size, growth signals, and market position on Bounce Watch to see which one fits your needs.

Source: BounceWatch company record for Elcogen, https://bouncewatch.com/company/elcogen, updated 29 December 2024. When citing, please name BounceWatch and link this page.

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