Elcogen and Bumhan signed a Memorandum of Understanding (MoU) to cooperate toward the commercialization of solid oxide fuel cells (SOFC) and solid oxide electrolyzer cells (SOEC) technology to catalyze the global transition to clean energy.

Under the terms of the agreement, Elcogen will supply its SOFC and SOEC technology which offers an efficient solution to green H₂ and emission-free energy production. As a result, it reduces commercial costs so customers can deliver affordable energy solutions to meet net-zero targets.

Enn Õunpuu, CEO of Elcogen said, “We can see the growing demand for the decarbonization of hard-to-abate sectors, which needs to be addressed. The signing of this MoU with Bumhan builds on our established relationship, and we are delighted to be working alongside them to bring SOFC and SOEC technology to market as we transition to a carbon free future.”

Jungtae Hwang, VP of Bumhan said, “Due to global warming issues, the development of H₂ fuel cell technology to achieve carbon neutrality is becoming important. I am pleased to sign this MoU with Elcogen and believe that this MoU will play a very key role in the development and commercialization of high-efficiency SOFC and SOEC technologies.”