“We are pleased to announce that Baker Hughes has made a strategic investment in Elcogen, the company said. “With investment from Baker Hughes, Elcogen closes its current funding round, raising overall €140m for scaling of its leading solid oxide technology for hydrogen”.
Combined with equity investment from Hydrogen One Capital Growth plc, HD Hyundai and Mirae, as well as project grants from the European Commission, including an IPCEI project, totalling more than €24m, and a proposed debt of €15m, Elcogen has now raised more than €140m for the continuous development and scaling of its market leading solid oxide technology, enabling affordable green hydrogen and accelerating the energy transition.
Following this investment and building on Elcogen’s existing strategic investment from and collaboration with HD Hyundai, Baker Hughes and Elcogen intend to also collaborate on green hydrogen production solutions based on Elcogen’s solid oxide electrolyser cell (“SOEC”) technology.
Photo of Elcogen
Press release https://elcogen.com/news/
