Elcogen, a prominent European clean energy technology manufacturer, has received a significant boost in its green hydrogen production efforts with a €24.9 million grant from the EU Innovation Fund. The grant aims to propel Elcogen's manufacturing capacity expansion for proprietary solid oxide electrolysers, fuel cells, and stacks. This funding supports the company's mission of providing affordable green hydrogen and emission-free electricity, aligning with the global shift towards sustainable energy solutions. The EU Innovation Fund, known for its support of innovative low-carbon technologies, selected Elcogen among 85 projects to receive funding totaling €4.8 billion in 2024. By investing in clean technologies like those developed by Elcogen, the Fund targets a substantial reduction of 476 million tonnes of CO2 emissions over the next decade. HydrogenOne Capital Growth plc, a pioneer in clean hydrogen investments based in London, emphasizes the positive momentum within the hydrogen sector. With a notable investment in Elcogen, representing 18% of the company's NAV as of September 2024, HydrogenOne underscores its confidence in the growth potential of green hydrogen technologies. Elcogen's CEO, Enn Õunpuu, expressed gratitude for the EU's support, recognizing the grant as a testament to the region's commitment to fostering a competitive green hydrogen production value chain. The company, founded in 2001 with manufacturing facilities in Estonia and Finland, has a strong track record of delivering clean energy solutions globally. Through partnerships and investments like these, the hydrogen sector continues to gain regulatory and financial backing, signaling a promising future for sustainable energy production in Europe and the UK.