We are pleased to announce the signing of a Memorandum of Understanding (“MOU”) with Bumhan Fuel Cell Co. (“Bumhan”). The MOU builds on an existing two-year co-operative relationship between Elcogen and Bumhan.
The purpose of the partnership is to cooperate towards the commercialisation of solid oxide fuel cells (SOFC) and solid oxide electrolyser cells (SOEC) technology to catalyse the global transition to clean energy.
Bumhan is a company specializing in hydrogen application technology, including fuel cells, hydrogen compressors, and hydrogen refuelling stations, located in Korea. Founded in 1990, Bumhan became the world’s second company to develop and commercialize hydrogen fuel cells for submarines, and based on its core fuel cell technology, it has built an extensive business portfolio including fuel cells for buildings, hydrogen ships and hydrogen buses. The hydrogen refuelling station business started as a shareholder of Hynet (Korea’s Hydrogen Energy Network), and a total of 30 orders were received by 2023, and are currently in commercial operation or construction.
Under the terms of the agreement, Elcogen will supply its SOFC and SOEC technology which offers an efficient solution to green hydrogen 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: “We can see the growing demand for the decarbonisation 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: “Due to global warming issues, the development of hydrogen 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.”
For more information please contact:
Elcogen
Andres Tarto
Head of Marketing
andres.tarto[at]elcogen.com
+372 53 533 160
Tavistock
Nick Elwes
Rebecca Hislaire
Charles Baister
elcogen[at]tavistock.co.uk
+44 (0)20 7920 3150
About Elcogen
Founded in 2001, Elcogen is a manufacturer of clean energy technology that delivers affordable green hydrogen and emission-free electricity. We are a European business with a proud Estonian heritage and a global customer network delivering flexible core solid oxide. Elcogen has its registered office in the UK, and manufacturing facilities in Estonia and Finland that have served 160 customers in 30 countries.
Elcogen develops and supplies the technology that sits at the heart of energy security and transition away from fossil fuels. We are focused on driving net-zero ambitions forward with a core, reversible technology that converts fuel sources into emission-free energy and emission-free energy into green hydrogen. Our solid oxide fuel cell (SOFC) and solid oxide electrolyser cell (SOEC) technology offers an efficient solution to green hydrogen production, reducing commercial costs so customers can deliver affordable energy solutions to meet net-zero targets.
About Bumhan
Bumhan Fuel Cell Co., Ltd. was established in December of 2019 through a spin-off from Bumhan Industrial Co., Ltd. to accelerate its business. Based on military fuel cell business, it has achieved remarkable growth and performance in the fuel cell business for building and hydrogen refuelling station business in a short period, and Bumhan Fuel Cell Co. was listed on KOSDAQ in 2022. Bumhan is establishing a various business portfolio based on submarine fuel cell technology, a global top technology, and responding quickly to the changes of the energy paradigm. In particular, it has completed the demonstration of small-scale hydrogen propulsion ships with reliable technology proven in harsh marine environments and is expanding its business area to mobilities such as unmanned submarines, hydrogen ships and hydrogen electric vehicles. In addition to having a number of installation track records in the field of the large-scaled building fuel cell, we also have a line-up of hydrogen and natural gas application products with various outputs and are responding to the future market demand by developing high-efficiency SOFC fuel cells for large-scale power generation projects.
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