Board Update

Tallinn, Estonia: Elcogen Group Plc, the European manufacturer of clean energy technology that delivers affordable green hydrogen and emission-free electricity, is pleased to announce the appointment of Markus Holm as CFO of Elcogen Group and an executive member of the Board of Directors. He is replacing Henri Kaar who has decided to step down from his roles with the Company.

Markus Holm has extensive experience as a CFO across both public and private companies, including Sanoma Corporation, where he acted as CFO and COO from 2017 to 2022 and Metsä Group, where he acted as CFO for Metsä Board Corporation from 2014 to 2016 and Metsä Tissue Corporation from 2008 to 2013. Prior to this Markus held a position as Finance and ICT Director for GlaxoSmithKline and various managerial positions in Huhtamaki Group. Markus is also a Board member of VR Group, the sustainable Finnish transport, logistics and maintenance company, a position he has held since March 2022. Markus holds an M.Sc. Econ. from Hanken School of Economics, Helsinki. 

Enn Õunpuu, CEO of Elcogen, commented: 

“We are delighted to appoint Markus Holm as CFO and a member of Elcogen’s Board. Markus is a highly experienced and results-driven leader and I look forward to welcoming him to the team. 

“I would also like to take this opportunity to thank Henri Kaar for his immense contribution and dedication to Elcogen over the last six years and wish him well in his future endeavours.”

About Elcogen

Founded in 2001, Elcogen is a manufacturer of clean energy technology that delivers affordable green hydrogen and emission-free electricity. We are an European business with a proud Estonian heritage and a global customer network delivering flexible core solid oxide technology that can be applied to a broad range of residential, industrial, and commercial applications. Currently Elcogen has manufacturing units in Estonia and Finalnd. Our core, reversible solid oxide technology combats climate change by converting fuel sources into emission-free energy and emission-free energy into green hydrogen. 

Elcogen supplies the core technology that sits at the heart of energy security and transition away from fossil fuels. We promise to deliver the world’s most efficient technology for the production and use of affordable green hydrogen. Our solid oxide fuel cell (SOFC) and solid oxide electrolyser cell (SOEC) technology offers an efficient solution to green hydrogen production, thereby reducing commercial costs so customers can deliver affordable energy solutions to meet net-zero targets. 

Elcogen believes in a future fuelled by a hydrogen-economy for its commercial customers and partners. The company was named Innovator of the Year 2020 by the European Business Awards.

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