Elcogen

ActiveOn the Hydrogen Radar · not ranked

Hydrogen · Estonia

Manufactures solid-oxide cells and stacks for fuel cells and electrolyzers, supplying system integrators building hydrogen production and power generation equipment.

Energy & climate›Hydrogen elcogen.com

HQEstonia

Last roundGrowth financing · Apr 2024

Why Elcogen is not ranked yet

How the Radar works →

The Radar lists every known eligible company, sorted by date of last round, with no AI judgement. Elcogen enters the ranking once its public data is sufficient for the AI to estimate it. Next Hydrogen worldwide edition: 14 Feb 2027.

Funding history

Date	Round	Amount	Type	Investors
Apr 2024	Growth financing	—	Equity	Baker Hughes, HydrogenOne, HD Hyundai

EUR 140M mixing equity, debt and grants, split not disclosed.

Rounds as cited by Uback’s rankings. Equity, debt and grants are shown separately; only equity rounds count towards the valuation anchor.

Uback rankings

How the AI ranks →

Ranking	Tier	Rank	Edition	Next update
Hydrogen · worldwide	Radar	—	Edition 0 · Oct 2026	14 Feb 2027

Independent analyses

By industry professionals & analysts

Industry professionals and financial analysts can publish their own analysis of Elcogen as a PDF. It must answer at least one of these four questions, and stick to them:

ValuationWhat is Elcogen worth?

Versus competitorsHow does it compare?

Who should acquire itStrategic buyers, and why

Who should it acquireAcquisition targets, and why

Publish an analysisName, role and LinkedIn shown · public sources only

Analyses are the opinion of their authors, not of Uback. They are checked before publication.

Invest

Back Elcogen whether or not it has agreed: your intention joins the pool on Elcogen, passed to the Fundraising Desk of its country once it reaches critical mass. Backing on Uback (pronounced “you back”) means declaring an Interest (free) or an Intention (coming soon). Backing does not mean that this company is raising funds or that a shareholder is selling shares, and it is not a commitment to invest. Any deal, through a funding round or a sale by an existing shareholder, is handled by a partner desk: the Fundraising Desk of the country for a round, the Secondary Sales Desk assigned to the company for a sale.

Back Elcogen Or back hydrogen worldwide

Pool on ElcogenBelow threshold

BackersBelow threshold

Paid intention · valid for life · movable until you sign with a partner desk. If the company does not follow up, Uback invites its Backers to move their intentions to a competitor or a similar company. Investing in non-listed companies carries a risk of losing all the capital invested.

Do you run Elcogen?

Claim this profile to correct data, add your logo and description, or tell Uback about an upcoming round.

Claim this profile Report an upcoming round → Report an error →

Are you a shareholder?

Considering selling some of your shares? Tell Uback privately. Nothing is published without your consent, and never a price or a volume.

Tell Uback privately

What the AI reads

Read by the AI at the next edition.

Comparable companies in hydrogen

Full hydrogen ranking →

Electric Hydrogen#1United StatesUnicorn Koloma#2United StatesUnicorn Ohmium#3United StatesUnicorn Sunfire#4GermanyUnicorn

Last updated: Oct 2026Report an error

Uback is a content publisher and an aggregator of non-binding expressions of interest. It provides no investment advice, receives no mandate and takes part in no transaction. Rankings, ranges and brackets are editorial estimates produced by AI, purely indicative.