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HydrogenOne’s Elcogen Launches SYRIUS Project to Decarbonize Steel Production

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HydrogenOne’s Elcogen Launches SYRIUS Project to Decarbonize Steel Production

Hydrogenone Capital Growth Plc ( (GB:HGEN) ) just unveiled an update.

HydrogenOne Capital Growth plc announced that its portfolio company, Elcogen AS, has launched the SYRIUS project aimed at decarbonizing steel production through hydrogen and circular energy use. The project, supported by a €10 million grant from Horizon Europe, involves integrating a Solid Oxide Electrolyster into a steel plant in Italy, marking a significant step for Elcogen in the green steel sector. This initiative, led by strategic investor Baker Hughes, is expected to open new market opportunities and advance industrial adoption of sustainable technologies.

More about Hydrogenone Capital Growth Plc

HydrogenOne Capital Growth plc is the first London-listed fund focused on investing in clean hydrogen technologies for positive environmental impact. The company is involved in the clean energy sector, with a particular emphasis on hydrogen production and its applications.

YTD Price Performance: 1.62%

Average Trading Volume: 243,633

Technical Sentiment Consensus Rating: Buy

For an in-depth examination of HGEN stock, go to TipRanks’ Stock Analysis page.

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