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Hysata’s Series A funding for a pilot manufacturing facility for its electrolyzer technology exceeds $40 MM
Australian company Hysata’s H2 electrolyzer technology has been supported by renowned global investors, as the organization closes its oversubscribed Series A funding round of $42.5 MM. Virescent Ventures led the funding round on behalf of the Clean Energy Finance Corporation (CEFC), with participation from Kiko Ventures, IP Group Australia, Vestas Ventures, Hostplus and BlueScope (via its ventures arm BlueScopeX).
Assembling such a high profile and high impact list of investors underlines the significance of the transformation that Hysata is bringing to the green H2 industry. The Hysata electrolyzer operates at 95% system efficiency (41.5 kWh/kg), delivering a giant leap in performance and cost over incumbent technologies, which typically operate at 75% or less. This high efficiency, coupled with the simple approach to mass manufacturing and low supply chain risk puts the company on a path to delivering the world’s lowest cost green H2.
Funding from the Series A round will be used to grow the Hysata team and develop a pilot manufacturing facility.
“Our mission is to redefine the economics of green hydrogen production through our innovative proprietary electrolyzer technology. The support of this international syndicate of clean energy practitioners and investors validates our core technology and our approach to scaling and mass manufacture,” said Paul Barrett, CEO of Hysata.
“Green hydrogen is a vital energy vector on the world’s path to net zero, critical to decarbonizing the hard-to-abate, yet vital, sectors of our economy such as steelmaking, heavy transport, and the chemical industry. The extensive end use cases for green hydrogen translate to a greater than trillion-dollar market opportunity.
“Over the last 12-18 months, Hysata has been interacting with dozens of major customers globally. The impact our efficiency and system simplicity delivers to customers’ project economics truly 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.”
The CEFC invested $10 MM into the Series A funding round, building on its initial $750,000 investment in the early commercial development of Hysata’s research. CEFC CEO Ian Learmonth said that backing a company like Hysata and its cutting-edge electrolyzer technology is vital in helping to grow Australia’s clean technology ecosystem.
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