Baker Hughes is investing in oxide cell technology for green hydrogen production.
Baker Hughes’ contribution to Elcogen’s funding, totaling €140 million ($151 million), underscores its commitment to supporting innovators in the hydrogen sector. This investment follows previous funding rounds led by HydrogenOne Capital Growth and HD Hyundai, highlighting a growing trend of strategic investments in green hydrogen technology.
The injection of funds into Elcogen is expected to enhance its solid oxide cell technology capabilities, essential for green hydrogen production. With a new factory under construction in Tallinn, Estonia, boasting significant production capacity, Elcogen is poised to scale its operations and play a pivotal role in the hydrogen economy.
While Baker Hughes emphasizes its dedication to the energy transition and the development of the hydrogen economy, questions remain regarding the long-term viability of oxide cell technology. As the energy landscape evolves, ensuring the scalability and cost-effectiveness of green hydrogen production methods will be critical for widespread adoption.
Baker Hughes’ collaboration with Elcogen reflects a broader strategy of partnership and innovation within the energy sector. By leveraging expertise and resources across the hydrogen value chain, companies aim to accelerate the transition towards a low-carbon future.
Baker Hughes’ investment in oxide cell technology for green hydrogen production marks a significant step towards realizing a sustainable energy future. However, as the energy transition unfolds, continued investment in research, development, and collaboration will be essential to address technical challenges and maximize the potential of green hydrogen as a key component of the energy mix.
