Hysata, a world-leading hydrogen electrolyzer technology company, series financing has exceeded $40 million
Hysata, a global leader in hydrogen electrolyser technology, Series A funding exceeds $40 million.
Australian company Hysata’s cutting-edge hydrogen electrolyser technology has been backed by renowned global investors as the organization closes its oversubscribed A$42.5 million Series A funding round.
Virescent Ventures led the funding round on behalf of the Clean Energy Finance Corporation (CEFC) (Aus), with participation from Kiko Ventures (UK), IP Group Australia, Vestas Ventures (Denmark), Hostplus (Aus) and BlueScope (via its joint venture arm BlueScopeX TM) (Aus).
Assembling such a prestigious and high-impact investor list highlights the importance of the transformation that Hysata is bringing to the green hydrogen industry. The Hysata chlorinator operates at 95% system efficiency (41.5 kWh/kg), offering a giant leap in performance and cost compared to incumbent technologies, which typically operate at 75% or less.
This high efficiency, coupled with the simple mass manufacturing approach and low supply chain risk, sets the company on a path to providing the cheapest green hydrogen in the world.
The Series A funding will be used to grow the Hysata team and develop a pilot manufacturing plant.
Paul BarrettCEO of Hysata, said:
Our mission is to redefine the economics of green hydrogen production through our proprietary and innovative electrolyser technology.
“The support of this international union of clean energy practitioners and investors validates our core technology and our approach to scaling and mass manufacturing,”
“Green hydrogen is a vital energy carrier on the global path to net zero, essential for decarbonizing hard-to-reduce, but vital sectors of our economy such as steelmaking, heavy transport and the chemical industry. The many end-use cases for green hydrogen translate into a trillion-plus market opportunity.
“Over the past 12-18 months, Hysata has interacted with dozens of major customers around the world. The impact of our efficiency and the simplicity of our system on the economics of clients’ projects really moves the needle. We look forward to continuing to work with our shareholders and customers to bring this much-needed technology to market as soon as possible. »
CEFC has invested $10 million in the Series A funding round, building on its initial investment of $750,000 in the early commercial development of Hysata’s research.
CEFC CEO Ian Learmonth said the support of a company like Hysata and its state-of-the-art electrolyser technology is essential to help grow Australia’s cleantech ecosystem.
Ian LearmoisCEFC CEO said:
CEFC is proud to continue its support of Hysata, which is set to become a major player in the global electrolyser industry.
“Green hydrogen will be essential to tackling the most difficult to reduce sources of emissions, and we are delighted to see Australian ingenuity providing the technological solutions that will help this industry achieve scale.”
“CEFC has a strong focus on hydrogen-related investments through our Hydrogen Advancement and Innovation Funds and we are delighted to see Hysata continue to advance hydrogen to help meet the future energy needs and reduce emissions in more sectors of the Australian economy.
CEFC’s investment is through its dedicated Clean Energy Innovation Fund, which is managed by Virescent Ventures.
Partner Blair PritchardVirescent Ventures said:
Hysata continues to progress rapidly and we are happy to support such an innovative company with an outstanding team.
“Hysata’s continued growth is an important indicator of hydrogen’s enormous potential for our net zero future.”
Kiko Ventures founding partner Robert Trezona said Hysata has real potential to become a major global cleantech player.
Robert Trezonathe founding partner of Kiko Ventures said:
After evaluating dozens of electrolyser technologies over my 20 years in cleantech, Hysata’s technology stands out as a true breakthrough.
“The company has redefined the core cell architecture for alkaline electrolysis, producing a practical and scalable solution with game-changing efficiency. Hysata has the potential to be a globally significant company in the hydrogen economy and we look forward to supporting its growth, especially here in Europe.
Michael Molinarimanaging director of IP Group Australia, added:
Hysata has assembled a world-class team to bring its revolutionary hair chlorinator to market.
“We are proud to have supported the company from its inception at the University of Wollongong to redefining the green hydrogen economy with its scaled-up electrolyser.”
Todd O’Neillhead of Vestas Ventures, said:
As the venture capital arm of the world leader in sustainable energy solutions, Vestas Ventures sees great potential in combining wind power with electrolyzers for the production of green hydrogen.
“We are delighted to have been invited to invest in Hysata. The development of disruptive renewable technologies is at the heart of our investment strategy and we look forward to following Hysata’s success over the coming years.
BlueScopeXTM general partner Michael Quinn agreed that Hysata’s technology could play an important role in developing commercially viable hydrogen production.
Michael Quinngeneral partner of BlueScopeXTM, said:
BlueScopeXTM is happy to invest in Australian technologies from our local communities, Hysata being born in Illawarra.
“Our industry needs smart and affordable technologies like Hysata’s to advance the broader goal of decarbonization, and we are delighted to support them on their path to commercialization,” he said.
LILY the latest news shaping the hydrogen market at Hydrogen Central
Hysata Series A Funding Surpasses $40M, August 2, 2022