Convion Ltd receives financing from Nefco to accelerate the transition to the green hydrogen economy

Nefco, the Nordic Green Bank has signed a loan agreement with Convion Ltd, a Finnish company specialising in solid oxide fuel cell (SOFC) systems for distributed power generation and green hydrogen production. The company’s scalable technology platform enables on-site generation of clean power or green hydrogen with premium efficiency.

Grannenfelt Finance was proud to have acted as the financial advisor in the deal.

Convion’s solution is a response to the global need for green hydrogen that can be used as an alternative to current fuels and inputs in a wide range of new applications. When commercialised, the solution has the potential to accelerate the transition towards the green hydrogen economy.

Convion is one of the signatories to the RePowerEU Plan, which is the European Commission’s plan to phase out Europe’s dependency on Russian fossil fuels well before 2030, in light of Russia’s invasion of Ukraine. The company aims to commercialise industrial-scale electrolysers for green hydrogen, which would contribute to the capacity boost needed in the EU.

Read the full press release here