Elcogen - About the company
Elcogen is a series B company based in Tallinn (Estonia), founded in 2001. It operates as a Develops SOFC single cells and stacks. Elcogen has raised $103M in funding from and SmartCap. The company has 85 active competitors, including 20 funded and 13 that have exited. Its top competitors include companies like Bloom Energy, FuelCell Energy and Intelligent Energy.
Company Details
Develops SOFC single cells and stacks. It manufactures solid oxide fuel cells SOFC single cells as well as SOFC stack. The company offers SOFC in two series, ASC-10B and ASC-10C.
Key Metrics
Founded Year
2001
Location
Tallinn, Estonia
Stage
Series B
Total Funding
in 13 rounds
Latest Funding Round
Investors
& 10 more
Ranked
7th among 85 active competitors
Employee Count
as on Sep 30, 2024
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Legal entities associated with Elcogen
Elcogen is associated with 2 legal entities given below:
Legal Entity Name | Date of incorporation | Revenue | Net Profit | Employee Count |
|---|---|---|---|---|
Feb 12, 2001 | $952K (as on Dec 31, 2019) | 396 | 204 | |
Mar 23, 2021 | - | 669 | 555 |
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Elcogen's funding and investors
Elcogen has raised a total funding of $103M over 13 rounds. Its first funding round was on Feb 01, 2015. Its latest funding round was a Series B round on Jan 16, 2025 for $5.15M. 1 investor participated in its latest round, which include European Investment Bank, EIC Fund, Grannenfelt Finance and VNT Management.
Elcogen has 11 institutional investors including , SmartCap and European Investment Bank.
Here is the list of recent funding rounds of Elcogen:
Date of funding | Funding Amount | Round Name | Post money valuation | Revenue multiple | Investors |
|---|---|---|---|---|---|
Jan 16, 2025 | $5.15M | Series B | 9473337 | 3710099 | |
Nov 12, 2024 | $26.6M | Grant (prize money) | 3337957 | 7549659 | |
Apr 03, 2024 | $25.8M | Series B | 5083444 | 6344014 | , HydrogenOne Capital, and |
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Elcogen's founders and board of directors
Elcogen's employee count trend
Elcogen has 95 employees as of Sep 24. The total employee count is 18.8% more than what it was in Sep 23. Here is Elcogen's employee count trend over the years:
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Top competitors of Elcogen include Bloom Energy, FuelCell Energy and Intelligent Energy. Here is the list of Top 10 competitors of Elcogen, ranked by ÃØÃÜÑо¿Ëù score :
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Overall Rank | Company Details | Short Description | Total Funding | Investors | ÃØÃÜÑо¿Ëù Score |
|---|---|---|---|---|---|
1st | Bloom Energy 2001, Sunnyvale (United States), Public | Provider of solid oxide fuel cell technology | $973M | CPP Investments, Credit SuisseÌý&²¹³¾±è;Ìý | 72/100 |
2nd |  FuelCell Energy 1969, Danbury (United States), Public | Online platform offering fuel cell-based solutions | - | Hercules Capital, ³Õ±ð°ù³¾Ã¶²µ±ð²Ô²õ³¦±ô³Ü²úÌý&²¹³¾±è;Ìý | 71/100 |
3rd | Intelligent Energy 2001, Loughborough (United Kingdom), Acquired | PEM fuel cell and CHP power systems developer | $213M | 68/100 | |
4th |  Blue World Technologies 2018, Aalborg (Denmark), Series B | Developer of methanol based fuel cell | $73.6M | Vaekstfonden, Conduit VenturesÌý&²¹³¾±è;Ìý | 66/100 |
5th | Manufacturer of hydrogen fuel cells | - | Herald Investment Management, Ìý&²¹³¾±è;Ìý | 64/100 | |
6th |  Amogy 2021, Brooklyn (United States), Series C | Provider of the ammonia-based fuel cell | $270M | 64/100 | |
7th | Develops SOFC single cells and stacks | $103M | European Investment Bank, EIC FundÌý&²¹³¾±è;Ìý | 57/100 | |
8th | Watt Fuel Cell 2010, Pittsburgh (United States), Series C | Develops and manufactures solid oxide fuel cell systems | $174M | New York State Energy Research and Development Authority, Ìý&²¹³¾±è;Ìý | 61/100 |
9th | SFC Energy 2000, Brunnthal (Germany), Public | Direct methanol fuel cell developers | - | Harbert Management, Cipio PartnersÌý&²¹³¾±è;Ìý | 60/100 |
10th | Fuel cell-based solutions provider | - | Migdal Group, TDK VenturesÌý&²¹³¾±è;Ìý | 59/100 |
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Elcogen's Investments and acquisitions
Elcogen has made no investments or acquisitions yet.
Reports related to Elcogen
Here is the latest report on Elcogen's sector:
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News related to Elcogen
Media has covered Elcogen for a total of 13 events in the last 1 year, 4 of them have been about partnerships and 2 about company updates.
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renewableenergymagazine.com•Mar 27, 2025•Elcogen
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chemengonline.com•Mar 13, 2025•Elcogen
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PR Newswire•Jan 14, 2025•Elcogen
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CNW•Jan 14, 2025•Elcogen
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Biofuels Digest•Nov 14, 2024•Elcogen,
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2 View•Jul 18, 2024•Elcogen,
Get curated news about company updates, funding rounds, M&A deals and others. Sign up today!Frequently asked questions about Elcogen
When was Elcogen founded?
Elcogen was founded in 2001.Where is Elcogen located?
Elcogen is located in Tallinn, Estonia.Is Elcogen a funded company?
Elcogen is a funded company, its first funding round was on Feb 01, 2015.When was the latest funding round of Elcogen?
Elcogen's latest funding round was on Jan 16, 2025.What is the annual revenue of Elcogen?
Annual revenue of Elcogen is undefined as on undefined.Our Lite Plan Awaits you - Its Free!
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