HydrogenOne Capital Growth plc, a London-listed fund focusing on clean hydrogen investments, announced that its portfolio company Elcogen has secured a €5 million investment from SmartCap, an Estonian state-owned venture capital fund. Elcogen specializes in solid oxide technology that enables the production of efficient green hydrogen and emission-free electricity. This investment will support Elcogen's growth trajectory by expanding its operations, production capacity, and business development initiatives. Dr. JJ Traynor, the investment adviser, highlighted the significance of this milestone in validating Elcogen's strategy. Elcogen's CEO, Enn Õunpuu, expressed delight in welcoming SmartCap as a strategic investor, emphasizing Elcogen's position to capitalize on the global clean energy and hydrogen technology shift. The investment from SmartCap reflects confidence in Elcogen's potential for strong growth and future prospects. SmartCap's CEO, Sille Pettai, noted that Elcogen's technology is crucial for driving the green transition in industrial processes and ensuring energy security. The investment from SmartCap will contribute to the development and construction of Elcogen's new factory in Tallinn, aimed at significantly increasing the manufacturing capacity of solid oxide fuel cells and electrolyser cells. Elcogen's technology, based on solid oxide fuel cell and electrolyser cell solutions, offers an efficient pathway for green hydrogen production, aligning with the growing need for advanced hydrogen technologies. SmartCap's strategic investment in Elcogen complements previous investments from Baker Hughes and HD Hyundai, highlighting the industry's recognition of Elcogen's technology as a key enabler of energy transition. Elcogen, with over 25 years of expertise, is well-positioned to meet the demand for sustainable energy solutions and play a vital role in achieving net-zero targets globally. The article showcases the positive sentiment towards hydrogen technology and the collaborative efforts to advance clean energy initiatives.