Pilot electrolyser manufacturing facility attracts top-tier investors
The Clean Energy Finance Corporation, Kiko Ventures, IP Group Australia, Vestas Ventures, and Hostplus are among the top-tier investors supporting Hysata’s Electrolyser
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).
The Hysata electrolyser operates at 95% system efficiency (41.5 kWh/kg), delivering a step up 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.
“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,” said Paul Barrett, CEO of Hysata.
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.
The CEFC investment is via its specialist Clean Energy Innovation Fund, which is managed by Virescent Ventures. Virescent Ventures Partner Blair Pritchard 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.”
