Convion
Convion Ltd. develops and manufactures solid oxide fuel cell (C60) and electrolyser (C250e) systems for distributed power generation and green hydrogen production, serving industrial, commercial, biogas, and (via HD KSOE) marine customers with a patented stack-agnostic SOC platform.
- Company typePrivate
- Founded2012
- HeadquartersEspoo, Finland
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What Convion does
Convion Ltd. is a Finland-based (Vantaa) developer and manufacturer of solid oxide cell (SOC) systems for distributed power generation and green hydrogen production. Founded in 2012 as a demerger from Wärtsilä's 20+ year fuel cell programme, the company commercializes a patented, stack-agnostic SOC platform delivered through two core product lines: the C60, a 60 kW nominal SOFC combined heat and power unit with industry-leading 60% NET-AC electrical efficiency and fuel flexibility for natural gas, biogas (≥55%-mol CH4), or hydrogen; and the C250e, a modular steam electrolyser (SOEC) achieving >85% electrical efficiency with optional reversible (rSOC) and steam+CO2 co-electrolysis modes. The system's minimized-component design and high-temperature (600–800°C) operation eliminate moving parts at the core process, enabling 99% availability demonstrated in field deployments such as the LEMENE smart microgrid and the SMAT Collegno wastewater treatment plant — the world's largest biogas-fuelled SOFC installation.
Convion generates revenue through direct enterprise sales of capital hardware (C60 CHP units, C250e electrolyser modules) complemented by professional integration, commissioning, and support services, with pricing handled via custom quotations rather than public list pricing. The go-to-market is event-driven (World Hydrogen Summit, H2 & FC Expo Tokyo, Hannover Messe, Hydrogen Technology Expo Bremen) combined with named-account enterprise sales led by the CEO, CCO, and Sales & Applications function. Customer concentration sits across industrial and commercial power generation, green hydrogen production, biogas/waste-to-energy, and — through the August 2024 majority acquisition by HD Korea Shipbuilding & Offshore Engineering's subsidiary HD Hydrogen — emerging marine and offshore applications. Key reference customers include Lempäälän Energia (Finland, two C60 units), SMAT Torino (Italy, C50 SOFC), Biometaan OÜ (Estonia, first C60 in the Baltics), Jain Irrigation Systems (India), VTT (Finland, E-Fuel project), and Shell (Netherlands, 1-MW SOEC demonstrator at the Amsterdam Energy Transition Campus).
The company has assembled a deep ecosystem of strategic and technology partners — Elcogen and SolydEra for SOC stacks, Shell for SOEC commercialization, Q Power for methanation integration, VTT for R&D coordination, and Politecnico di Torino / Imperial College London for the DEMOSOFC EU project — supplemented by regional channel relationships in India (h2ePower Systems), the Baltics (Biometaan OÜ), and Korea (via HD KSOE). Convion operates with 11–50 employees and holds ISO 9001, ISO 14001, and ISO 45001 certifications, with the majority of its ~€76M lifetime funding provided by the 2024 HD Hydrogen investment to scale manufacturing at its newly expanded Vantaa facility.
Convion firmographics
Firmographics- Name
- Convion
- Legal name
- Convion Ltd.
- Website
- https://convion.fi
- Company type
- Private
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Convion Ltd. develops and manufactures solid oxide fuel cell (C60) and electrolyser (C250e) systems for distributed power generation and green hydrogen production, serving industrial, commercial, biogas, and (via HD KSOE) marine customers with a patented stack-agnostic SOC platform.
- Ownership category
- akta.pro rank
Convion industry classification
Industry- Product category
- Fuel Cell Systems
- NAICS
- Turbine and Turbine Generator Set Units Manufacturing (333611), Industrial Gas Manufacturing (32512)
- SIC
- Cogeneration Services & Small Power Producers (4991)
- akta.pro primary industry
- Fuel Cell CHP (SOFC/PEM—Natural Gas/Biogas/Hydrogen) (EUACAKAG)
- akta.pro secondary industries
- Fuel Cell Distributed Generation (Hydrogen/Natural Gas SOFC/PEM) (EUACALAK), Onsite Low-Carbon Heat & CHP (Electrified CHP, Fuel Cells, Renewable CHP) (EUABAJAI), Hydrogen & Derivative Fuels for Industry (H₂, Ammonia, Methanol) (EUABAJAC), Hydrogen Energy Storage & Power-to-X Equipment (electrolyzers, storage, fuel cell systems) (IMAGAHAM)
Keywords
Where Convion is headquartered
LocationHeadquarters
- HQ city
- Espoo
- HQ country
- Finland
- HQ region
- Europe
Offices1 record
Markets served
Convion business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Supply Chain, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- SOFC Fuel Cell Systems Sales: Sale of C60 modular fuel cell CHP systems for distributed power generation. Revenue generated from equipment sales to industrial and commercial customers for on-site power generation applications including biogas CHP, microgrids, and critical power support.
- SOEC Electrolyser Systems Sales: Sale of C250e modular steam electrolysis systems for industrial green hydrogen production. Systems sold for applications including electrofuel production, industrial hydrogen supply, and energy storage.
- System Integration Services: Professional services for system integration, commissioning, and support. Includes delivery, installation, and operational setup of fuel cell and electrolysis systems at customer sites.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
Convion product offering
Product offeringCore offering
Convion develops and commercializes solid oxide fuel cell (SOFC) systems for distributed power generation and solid oxide electrolysers (SOE/SOEC) for industrial green hydrogen production. Its core products are the C60 modular fuel cell combined heat and power (CHP) system (60 kWe electrical output, 60% net-AC efficiency) and the C250e steam electrolyser (>85% efficiency, reversible operation). The technology enables fuel-flexible operation on natural gas, biogas, or hydrogen for industrial and commercial customers globally.
Product overview
Convion offers a product portfolio based on a common solid oxide cell (SOC) system platform. The portfolio consists of two main product lines: the C60 for fuel cell power generation (SOFC) enabling clean, efficient combined heat and power generation, and the C250e for steam electrolysis (SOEC/rSOC) enabling hydrogen production with reversible operation capability. Both products share a modular architecture allowing parallel installation and independent operation.
Differentiator
Problem solved
Functional benefit
Products and services
- Convion C60 SOFC CHP System A modular solid oxide fuel cell (SOFC) power generator for combined heat and power (CHP) applications. Delivers 60 kWe nominal electrical output at industry-leading 60% net-AC electrical efficiency, with fuel flexibility for natural gas, biogas, or hydrogen. Designed for distributed power generation in industrial and commercial facilities with grid-parallel or island mode operation.
- Convion C250e Steam Electrolyser System A modular steam electrolyser (SOE/SOEC) system for industrial green hydrogen production. Achieves over 85% electrical efficiency (LHV) and supports reversible operation (rSOC) enabling bi-directional switching between hydrogen production and power generation. Optional co-electrolysis of steam and CO2 configuration available. Each module is hot-swappable and operates independently for high availability and scalability to multi-MW installations.
Quantifiable outcome
- 60% net-AC electrical efficiency for C60 fuel cell systems
- +6 more outcomes
Companies that use Convion
Customer profileNamed customers6 records
Segments4 records
Ideal customer profiles4 records
Convion technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Convion partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered core, reference and regional.
- ElcogencorePartnership with Estonian-Finnish SOFC stack manufacturer Elcogen. Elcogen provides solid oxide cells and stacks for Convion's systems. Joint milestone achieved with 2,000-hour test of first-of-a-kind electrolyser validating superb performance. Elcogen cells achieve world's highest efficiencies while addressing cost, scale, and lifetime challenges through unique anode-supported ceramic technology.
- Q Power OycoreCollaboration to transform biogas plants with high-efficiency methanation and hydrogen technology. Joint concept harnesses Q Power's biocatalytic methanation technology with Convion's hydrogen production and fuel cell technology. Modular, scalable solution enables biogas producers to double output by converting CO2 to methane using renewable hydrogen. Bi-directional rSOC systems offer flexibility for plant optimization.
- SolydEracoreGlobal strategic partnership combining SolydEra's industry-leading solid oxide cell and stack technology with Convion's flexible power generation and hydrogen production systems. Partnership addresses growth in both SOFC (gas-to-power) and SOE (hydrogen generation) markets. Brings together complementary capabilities for large commercial and industrial applications with increased delivery capacity.
- VTT Technical Research Centre of FinlandcoreE-Fuel research project partnership coordinated by VTT. Convion delivers SOEC electrolyser for synthetic fuel production demonstrator. Project aims to boost electrofuel production efficiency by 10-15 percentage points. VTT coordinates validation and testing of Convion SOE system with consortium partners. Part of Neste's Veturi ecosystem for carbon-neutral solutions.
- Shell Global Solutions InternationalcorePartnership to develop, validate, and commercialize advanced Solid Oxide Electrolysers (SOEC). Convion to deliver 1-MW electrolyser demonstrator to Shell's Energy Transition Campus in Amsterdam using four C250e modules. Goal is renewable hydrogen production at efficiencies higher than other electrolysis technologies. Partnership also explores reversible SOC (rSOC) option for both power generation and hydrogen production with same equipment.
- Politecnico di TorinoreferenceProject coordinator for DEMOSOFC European project. Contributed to engineering and integration of SOFC system at SMAT Collegno plant. Provides technical, environmental, and economic analyses for the project alongside VTT and Imperial College London.
- SMAT (Società Metropolitana Acque Torino)referenceSMAT owns and operates Collegno waste water treatment plant where Convion's C50 SOFC system was installed as part of DEMOSOFC European project. Partnership showcases state-of-the-art SOFC implementation in waste water treatment application. SMAT serves population of approximately 180,000 with biogas from anaerobic digestion process.
- h2ePower SystemsregionalCo-operation agreement to provide renewable, highly efficient, emission-free electricity to Indian market. h2ePower Systems brings local presence and commercialization expertise for rural India market. Partnership strengthens commercialization of fuel cell products with focus on sustainable agriculture and food processing applications.
- Imperial College LondonreferencePartner in DEMOSOFC European project contributing technical, environmental, and economic analyses. Project received funding from Fuel Cells and Hydrogen Joint Undertaking under grant agreement No 671470.
- VTT (Coordinator), Elcogen, Energy Matters, ENEA, ElringKlinger, Forschungszentrum JülichcoreINNO-SOFC project consortium. VTT coordinates with Convion responsible for system integration, design, manufacturing, and validation. Elcogen supplies SOFC stacks. Other partners contribute across value chain for next-generation 50kW fuel cell system development.
Scale indicators10 records
Recent moves9 records
Expansion highlights6 records
Convion competitors and assessment
Company assessmentDirect peers
- Sunfire: Sunfire is a German developer of high-temperature SOEC electrolysers for green hydrogen and e-fuels, directly competing with Convion's C250e. Both target industrial PtX customers with reversible SOC technology at similar efficiency levels.
- Doosan Fuel Cell: Doosan Fuel Cell is a South Korean SOFC distributed power system manufacturer serving commercial and industrial customers, directly competing with Convion particularly in the wake of HD KSOE ownership and Asian market access.
- Solidpower: Solidpower is an Italian-German SOFC system developer producing fuel cell CHP units in the sub-50kW to multi-hundred-kW range, directly competing with Convion's C60 in European distributed power and microgrid applications.
- Ceres Power: Ceres Power is a UK-based SOFC technology developer licensing steel-cell technology to partners for stationary power and other applications. Comparable to Convion in SOFC technology focus though operating on a licensing model rather than system sales.
- Bloom Energy: Bloom Energy is the leading commercial-scale SOFC distributed power generator, directly competing with Convion's C60 in industrial and commercial CHP applications. Both target high-efficiency fuel-flexible on-site power with similar customer profiles.
Emerging players
- ITM Power: ITM Power is a UK PEM electrolyser manufacturer supplying green hydrogen production systems for industrial and mobility applications, comparable to Convion's C250e for industrial hydrogen customers though using different (lower-temperature) technology.
- Elcogen: Elcogen is an Estonian-Finnish SOFC/SOEC cell and stack manufacturer that supplies Convion and competes with other stack makers. Adjacent player in the SOFC value chain with overlapping technology focus.
- Nel ASA: Nel ASA is a Norwegian electrolyser manufacturer focused on PEM and alkaline hydrogen production systems, competing with Convion's SOEC offering in industrial green hydrogen projects. Different technology pathway but overlapping customer base.
Broad incumbents
- Plug Power: Plug Power is a US-based hydrogen ecosystem company covering PEM electrolysers, fuel cells, and turnkey hydrogen solutions. Competes with Convion in industrial green hydrogen production at a much larger scale with broader product portfolio.
- Ballard Power Systems: Ballard Power is a Canadian PEM fuel cell and hydrogen solutions provider covering heavy-duty mobility, backup power, and stationary applications. Comparable to Convion in fuel cell deployment but focused on PEM at lower temperatures rather than SOFC.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Convion social profiles
Digital presenceConvion compliance and trust
Trust signalCompliance3 records
Convion financial estimates
Financial estimateRevenue estimate
Valuation estimate
Convion leadership team
Management profileNumber of profiles
Profiles5 records
Convion funding detail
Funding detailFunding overview
Funding rounds3 records
Investors3 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Convion M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Convion
What does Convion do?
Convion develops and commercializes solid oxide fuel cell (SOFC) systems for distributed power generation and solid oxide electrolysers (SOE/SOEC) for industrial green hydrogen production. Its core products are the C60 modular fuel cell combined heat and power (CHP) system (60 kWe electrical output, 60% net-AC efficiency) and the C250e steam electrolyser (>85% efficiency, reversible operation). The technology enables fuel-flexible operation on natural gas, biogas, or hydrogen for industrial and commercial customers globally.
Is Convion a public or private company?
Convion is a private company. It is classified as corporate owned and is currently operating.
When was Convion founded?
Convion was founded in 2012. It employs 11 to 50 people.
Where is Convion based?
Convion is headquartered in Espoo, Finland, in the Europe region.
How does Convion make money?
Three revenue lines are on record. SOFC Fuel Cell Systems Sales are the primary driver. The others are SOEC Electrolyser Systems Sales and system Integration Services.
Who are Convion's main competitors?
Direct peers on record are Sunfire, Doosan Fuel Cell, Solidpower, Ceres Power and Bloom Energy. Emerging players are ITM Power, Elcogen and Nel ASA. Broad incumbents are Plug Power and Ballard Power Systems.
Does Convion have an API?
No public API is recorded for Convion.
What industry is Convion in?
Convion's product category is Fuel Cell Systems. Its primary akta.pro industry code is EUACAKAG, Fuel Cell CHP (SOFC/PEM—Natural Gas/Biogas/Hydrogen), with a secondary code of EUACALAK, Fuel Cell Distributed Generation (Hydrogen/Natural Gas SOFC/PEM). Its NAICS code is 333611 and its SIC code is 4991.