HydrogenOne Capital Growth plc, an investment fund focusing on clean hydrogen, celebrates Elcogen AS, a portfolio company, securing a substantial €24.9 million grant from the EU Innovation Fund. Elcogen, known for its clean energy technology, will utilize the funding to enhance its manufacturing capacity of solid oxide electrolysers, fuel cells, and stacks. This move aims to boost green hydrogen production and emission-free electricity delivery, aligning with the global shift towards sustainable energy solutions. The EU Innovation Fund's substantial financial backing of 85 projects, totaling €4.8 billion in 2024, emphasizes its commitment to promoting low-carbon technologies for a greener future. Dr JJ Traynor, from HydrogenOne Capital LLP, highlights the significance of this investment for Elcogen, emphasizing the positive momentum in the hydrogen sector supported by regulatory and financial backing. Elcogen's CEO, Enn Õunpuu, expresses gratitude for the EU's support, recognizing the grant as pivotal in fostering a competitive green hydrogen production value chain across Europe. The partnership between HydrogenOne Capital and Elcogen signifies a step towards a sustainable energy transition and reinforces the confidence in the growth potential of the hydrogen sector.