A Wollongong, Australia-based startup called Hysata has secured USD$111M in Series B investment for their electrolyser technology, which aims to manufacture renewable hydrogen.
Investors
- Virescent Ventures on behalf of Clean Energy Finance Corporation
- IP Group Australia
- Kiko Ventures (IP Group plc’s cleantech platform)
- BlueScopeX
- POSCO Holdings
- POSCO E&C
- IMM Investment Hong Kong
- Shinhan Financial Group
- Twin Towers Ventures
- Oman Investment Authority’s VC arm IDO
- TelstraSuper
- bp Ventures
- Templewater
Use of funds
In order to achieve gigawatt-scale manufacturing, the business plans to utilize the money to enhance its technology and increase production capacity at its Wollongong, New South Wales, manufacturing site.
About Hysata
Under the direction of CEO Paul Barrett, Hysata is creating a novel kind of electrolyser that combines an electrolysis cell with an easier-to-use balance of plant. With about 75 workers at the moment, the firm hopes to hire more than 200 people in the next years and spread its operations over other continents.
“Our goal at Hysata is to deliver the most effective, user-friendly, and dependable electrolysers in the world in order to accelerate the deep decarbonization of hard-to-abate sectors like steel, chemical manufacture, and heavy transport.Hysata’s goal is to reduce the levelized cost of hydrogen with its mass-manufacturable design, minimal capital expenditure, and great efficiency.”
Paul Barrett
