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Hysata, a World-leading Hydrogen
Electrolyser Technology Company, Series a Funding Exceeds $40 Million
August 2, 2022
Hysata, a world-leading hydrogen
electrolyser technology company, Series A funding exceeds $40 million.
Australian company Hysata’s world-leading
hydrogen electrolyser technology has been supported by renowned global
investors, as the organisation closes its oversubscribed Series A
funding round of $42.5 million AUD.
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 ventures arm
BlueScopeX TM) (Aus).
Assembling such a high profile and high
impact list of investors underlines the significance of the
transformation that Hysata is bringing to the green hydrogen industry.
The Hysata electrolyser 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
hydrogen.
Funding from the Series A round will be
used to grow the Hysata team and develop a pilot manufacturing
facility.
Paul Barrett, CEO of
Hysata, said:
Our mission is to redefine the
economics of green hydrogen production through our innovative
proprietary electrolyser 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,”
“Green hydrogen is a vital energy vector
on the world’s path to net zero, critical to decarbonising 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 million 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 electrolyser technology is
vital in helping to grow Australia’s clean technology ecosystem.
Ian Learmonth, CEFC CEO
said:
The CEFC is proud to continue our
support for Hysata, which is set to be a major player in the global
electrolyser industry.
“Green hydrogen will be essential to
addressing the hardest to abate sources of emissions, and we’re
excited to see Australian ingenuity providing the technology solutions
that will help this industry reach scale.”
“The CEFC has a strong focus on hydrogen
related investments through both our Innovation and Advancing Hydrogen
Funds and we are delighted to see Hysata continue to advance hydrogen
to help meet future energy needs and reduce emissions in more sectors
of the Australian economy.”
The CEFC investment is via its specialist
Clean Energy Innovation Fund, which is managed by Virescent Ventures.
Partner Blair Pritchard,
Virescent Ventures said:
Hysata continues to make rapid progress
and we are pleased to support such an innovative company with an
outstanding team.
“The continued growth of Hysata is an
important pointer to the enormous potential of hydrogen to our net
zero future.”
Kiko Ventures’ Founding Partner, Robert
Trezona, said Hysata has real potential to become a major global clean
technology player.
Robert Trezona, Kiko
Ventures’ Founding Partner said:
Having assessed scores of electrolyser
technologies in 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 Molinari, IP
Group Australia’s Managing Director, added:
Hysata have assembled a world-class
team to bring their revolutionary capillary-fed electrolyser to
market.
“We’re proud to have supported the
company from before inception at the University of Wollongong to now
redefining the economics of green hydrogen with their electrolyser
that is set to scale.”
Todd O’Neill, Head of
Vestas Ventures, said:
As the venture capital arm of the
global leader in sustainable energy solutions, Vestas Ventures
foresees great potential in combining wind power with electrolysers
for green hydrogen production.
“We are delighted to have been invited to
invest in Hysata. Nurturing disruptive renewable technologies is
central to our investment strategy and we look forward to following
Hysata’s success over the coming years.”
BlueScopeXTM’s General Partner, Michael
Quinn, agreed that Hysata’s technology could play a significant role
in the development of commercially viable hydrogen production.
Michael Quinn,
BlueScopeXTM’s General Partner, said:
BlueScopeXTM is pleased to be investing
in Australian technologies coming out of our local communities, with
Hysata being born in the Illawarra.
“Our industry requires smart, affordable
technologies like Hysata’s to help progress the broader goal of
decarbonisation, and we are excited to be supporting them on their
path to commercialisation,” he said.
READ the latest news
shaping the hydrogen market at
Hydrogen Central
Hysata’s Series A funding exceeds $40
million,
August 2, 2022
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