# HD Hyundai invests €45M in Elcogen for solid oxide technology

Korea Shipbuilding & Offshore Engineering, a member of HD Hyundai Group, invested €45 million in Elcogen to support solid oxide fuel cell and electrolyser technology. The investment will expand Elcogen's manufacturing capacity at its new factory in Tallinn, Estonia.

- Type: Investment
- Announced: 2023-10-11
- Where: Tallinn, Estonia, Estonia
- Value: $48.0M (45.0M EUR)
- Status: announced
- Capacity: 360 MW
- Products: solid oxide fuel cells, solid oxide electrolyser cells
- Sectors: [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Elcogen](https://endata.com/companies/37547.md)
- [Korea Shipbuilding & Offshore Engineering](https://endata.com/companies/12434.md) (investor)
- [HD Hyundai](https://endata.com/companies/14661.md) (investor)

## Sources

- [elcogen.com](https://elcogen.com/hd-hyundai-makes-a-strategic-investment-in-elcogen/), 2023-10-11: "This investment will be used to expand Elcogen’s manufacturing capacity as it continues to build the Company’s new factory facility in Tallinn, Estonia."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.