HydrogenOne Capital Growth plc, the first London-listed fund investing in clean hydrogen for a positive environmental impact, celebrated its portfolio company Elcogen AS securing a €24.9 million grant from the EU Innovation Fund. Elcogen, a leading European manufacturer of clean energy technology, plans to utilize the funding to enhance its manufacturing capacity for solid oxide electrolysers, fuel cells, and stacks, essential components for green hydrogen production. The EU Innovation Fund, known for supporting innovative low-carbon technologies, recognized 85 projects in 2024 with a total award of €4.8 billion, aiming to collectively reduce 476 million tonnes of CO2 emissions over a decade. The investment in Elcogen by HydrogenOne is a strategic move towards advancing clean energy solutions, with Elcogen's CEO expressing gratitude for the EU's support in fostering competitive green hydrogen production across Europe. The grant will facilitate the establishment of a new solid oxide fuel cell factory in Estonia, aligning with the global shift towards sustainable energy sources. The article emphasizes the positive sentiment towards the hydrogen sector, highlighted by regulatory and financial backing, signaling promising growth opportunities for companies in the clean energy supply chain.