In a significant boost to green hydrogen technology, Australian company Hysata recently announced a substantial capital raise of $111 million USD, co-led by bp Ventures and Templewater in a Series B funding round.
This infusion of capital underlines the growing confidence in Hysata's revolutionary electrolyser technology, which promises to make green hydrogen production both more efficient and cost-effective.
About Hysata
Hysata is pioneering the development of a new type of electrolyser technology, which integrates one of the world's most efficient electrolysis cells with a simplified balance of plant.
Given that electricity costs constitute the bulk of green hydrogen production, Hysata's focus on high-efficiency electrolysers aims to deliver hydrogen at a lower cost.
With a team that includes top talent from leading global companies such as Apple, Tesla, BHP, and McKinsey, Hysata is rapidly expanding.
We are proud to announce that we have raised USD$111.3m as part of our Series B financing round. This has been an incredible team effort, and we are excited to welcome new investors and strengthen our partnership with existing shareholders. https://t.co/evC5yPHpYF pic.twitter.com/5cTx23ZAXV
— Hysata (@HysataH2) May 9, 2024
The company plans to grow its workforce significantly, aiming to more than double its current staff count of 75 to over 200 within the next few years, spreading its operations across multiple continents.
As Hysata moves towards multi-gigawatt scale manufacturing, its technological advancements could be a turning point in reducing global emissions and achieving a net-zero future.
The backing by leading global investors underscores the potential of Hysata’s technology to transform the energy landscape, making green hydrogen a cornerstone of the sustainable energy ecosystem.
Funding Round
The recent funding round included a mix of both returning and new investors, highlighting the broad-based support for Hysata's technology.
Long-standing backers such as IP Group Australia, Kiko Ventures, and Virescent Ventures reaffirmed their commitment, while new strategic partners like POSCO Holdings and Shinhan Financial Group have joined the fold, recognizing the potential of Hysata’s technology to disrupt the energy sector.
This financial injection will allow Hysata to expand its operations, particularly at its iconic beachside manufacturing facility in Wollongong, Australia.
The company aims to scale up its production capabilities to gigawatt levels, further advancing its technology in preparation for widespread commercial deployment.
Quotes from Leadership
"Our mission at Hysata is to accelerate the deep decarbonisation of hard-to-abate sectors such as steel, chemical manufacture, and heavy transport, by delivering the world's most efficient, simple, and reliable electrolysers. With high-efficiency, intrinsically low capex and a mass-manufacturable design, Hysata aims to drive down the levelised cost of hydrogen. This funding round, backed by a world class syndicate of investors, demonstrates the game changing impact Hysata is having on the green hydrogen landscape. It will strengthen our team and enhance our capabilities, as we propel towards widespread commercial availability.
- Hysata CEO, Paul Barrett
"We know that green hydrogen can play a big role in decarbonisation. This is the first advanced alkaline electrolyser technology that bp Ventures has invested in. It could provide optionality for our hydrogen business as bp aims to become a global leader in low carbon hydrogen production. Hysata's technology could help save energy and reduce production costs, addressing two challenges of the green hydrogen market. We're excited for Hysata's next steps." - Gareth Burns, Vice President of bp Ventures
