Tallinn-based Elcogen has secured a spot on TIME Magazine’s inaugural list of the “World’s Top GreenTech Companies of 2025,” joining an elite group of 250 global companies making environmental impact. It’s the second company to make it into the ranking, alongside Skeleton Technologies, making Estonia one of the top GreenTech spots in per capita estimates.
TIME and Statista’s global analysis examined over 8,000 companies developing solutions to combat climate change, spotlighting organisations making a positive environmental impact through their products, services, and technologies.
“We are incredibly proud to be recognised by TIME as one of the leading green technology companies worldwide” said Enn Õunpuu, CEO of Elcogen. “This achievement reflects the hard work of everyone in our organisation and our ongoing efforts to create a more sustainable future for all.”
Elcogen specialises in solid oxide technology for green hydrogen production through its advanced SOEC (solid oxide electrolyser cell) technology. Their high-temperature method uses a solid ceramic electrolyte to split water for hydrogen production at temperatures up to 800°C. It significantly reduces the electrical energy needed and makes the process more efficient than low-temperature electrolysis.
In January 2024, Elcogen and Convion announced that their SOEC technology achieved over 85% efficiency, using just 39kWh of electrical energy per kilogram of green hydrogen produced during a 2,000-hour test period.
“At Elcogen, our continued close collaboration with loyal partners and system integrators has been instrumental in developing clean energy solutions that will have a lasting impact on the planet,” adds Õunpuu.
Elcogen has recently been rapidly expanding its global footprint. Last year, the company secured €31M in investment from US energy company Baker Hughes, bringing its total funding to over €140 million since 2022. This investment will allow Elcogen to increase production capacity with a new 360MW manufacturing facility in Tallinn, which will open in 2025.
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