When was Convion founded?

Convion was founded in 2012 and raised its 1st funding round 1 year after it was founded.

Where is Convion located?

Convion is headquartered in Espoo, Finland.

How many employees does Convion have?

As of May 31, 2026, the latest employee count at Convion is 26.

Is Convion a funded company?

Convion is a funded company, having raised an undisclosed amount across 3 funding rounds to date. The company's 1st funding round was a $***** Series A round, raised on Jan 14, 2013.

When was the latest funding round of Convion?

Convion's latest funding was a $***** Series A round on Jun 30, 2018, with participation from 1 investor.

Where does Convion rank among its competitors?

Convion ranks 16th amongst 41 active competitors, of which 12 are funded. It stands 11th in terms of total funding among its competitors. The most recent competitor to raise funding was Upstart Power, which secured $307K in Sep, 2025.

Who are the top competitors of Convion?

Convion's top competitors include Bloom Energy, FuelCell Energy and Elcogen. Among them, Upstart Power secured the most recent funding round in September, 2025.

Convion - 2026 Company Profile, Team, Funding & Competitors

Company Details

Developer of solid oxide fuel cell systems and electrolysers. These systems are designed for distributed power generation in industrial and commercial applications, offering premium energy efficiency and operational flexibility. The technology also facilitates hydrogen production through solid oxide electrolysis, providing efficient and scalable solutions to meet industrial demand. The focus is on sustainable power generation solutions for enhanced power security and fuel economy.

Website: convion.fi
Email ID: *****@convion.fi

Key Metrics

Founded Year

2012

Location

Espoo, Finland

Stage

Acquired

Latest Funding Round

Series A, Jun 30, 2018, $*****

Investors

Springvest & 2 more

Ranked

16^th among 41 active competitors

Employee Count

26 as on May 31, 2026

Similar Companies

H2E Power & 7 more

Exit Details

Acquired by HD Korea Shipbuilding & Offshore Engineering (Aug 26, 2024)

View Convion's full profile

Convion got acquired by HD Korea Shipbuilding & Offshore Engineering on Aug 26, 2024 at an acquisition amount of $*****.

Click here to take a look at Convion's acquisition in detail

Convion has raised funding over 3 rounds. Its first funding round was on Jan 14, 2013. Its latest funding round was a Series A round on Jun 30, 2018 for $*****. 1 investor participated in its latest round. Convion has 3 institutional investors.

Here is the list of recent funding rounds of Convion:

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Jun 30, 2018	3150728	Series A	5697181	7112829	3354918	3230395
Feb 01, 2015	8662862	Grant (prize money)	9160459	5763991	3017219	Europa
Jan 14, 2013	3201466	Series A	5783681	5203976	1013045	VNT Management

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View details of Convion's funding rounds and investors

Convion's employee count trend

Convion has 26 employees as of May 26. Here is Convion's employee count trend over the years:

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Top competitors of Convion include Bloom Energy, FuelCell Energy and Elcogen. Here is the list of Top 10 competitors of Convion, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Bloom Energy 2001, San Jose (United States), Public	Provider of solid oxide fuel cell technology	$973M	TriplePoint Capital, SeedFord Partners & 48 others	72/100
2nd	FuelCell Energy 1969, United States, Public	Manufacturer of fuel cell systems for power generation and emissions management	-	Hercules Capital, Fifth Third Bank & 5 others	64/100
3rd	Elcogen 2001, Tallinn (Estonia), Series B	Manufacturer of solid oxide fuel cells and hydrogen production components	$103M	SmartCap, Baker Hughes & 9 others	59/100
4th	Watt Fuel Cell 2010, Pittsburgh (United States), Series C	Develops and manufactures solid oxide fuel cell systems	$174M	Generac Power Systems, EQT & 4 others	58/100
5th	Nexceris 1994, Lewis Center (United States), Funding Raised	Developer of fuel cell components	-	National Science Foundation, OSTI	49/100
6th	Dynelectro 2018, Copenhagen (Denmark), Series A	Designer and manufacture Dynamic Electrolyser Units which produce green hydrogen for carbon-neutral eFuels	$16.7M	Danmarks Eksport og Investeringsfond, Yara Growth Ventures ... & 7 others	48/100
7th	Ceres 2001, Horsham (United Kingdom), Public	Developer of solid oxide fuel cell and hydrogen electrolyser technology	-	Bosch, Innovate UK & 7 others	47/100
8th	Upstart Power 2017, Boston (United States), Series D	Offering solutions for solid oxide fuel generators	$59.1M	rodgerscapitalinc.com, ITOCHU & 6 others	44/100
9th	SolydEra 2006, Mezzolombardo (Italy), Series B	Provider of fuel cell technology solutions	$47M	OSTI, Europa	42/100
10th	INERGIO 2014, Lausanne (Switzerland), Seed	Provider of solid oxide fuel cell-based power units	$1.37M	Privilege Ventures, Eureka & 4 others	41/100
16th	Convion 2012, Espoo (Finland), Acquired	Developer of solid oxide fuel cell systems and electrolysers	-	Springvest, VNT Management & 1 others	33/100