Hysata raises $111M in Series B, reflecting global interest in green hydrogen technology
Australian clean tech firm Hysata has raised a record-breaking $111 million USD in Series B funding to expand its high-efficiency electrolyser technology for green hydrogen production.
Australian clean technology company Hysata has secured the largest Series B funding in the country's clean technology history. The company announced a substantial $111 million USD investment round, backed by major global investors, manifesting the growing interest in clean energy technologies.
Hysata is known for its innovative approach to green hydrogen production, focusing on high-efficiency electrolysis technology. Their electrolysers promise to produce green hydrogen at scale with superior energy efficiency and reduced costs compared to existing methods. The technology, which uses a unique capillary-fed alkaline electrolysis process, requires less energy to convert water to hydrogen, making it particularly attractive for industries seeking to decarbonize.
Leading the Series B round are bp Ventures and Templewater, each contributing $10 million USD. The round also saw significant participation from existing investors such as IP Group Australia, Kiko Ventures, Virescent Ventures, Hostplus, Vestas Ventures, and BlueScopeX.
New investors, including POSCO Holdings, POSCO E&C, IMM Investment Hong Kong, Shinhan Financial Group Co., Twin Towers Ventures, Oman Investment Authority’s VC arm IDO, and TelstraSuper, also joined the funding round.
Hysata plans to use the funds to expand its production capacity at its manufacturing facility in Wollongong, New South Wales. The company aims to further develop its technology to enable gigawatt-scale manufacturing, supporting its mission to drive down the cost of green hydrogen production.
Paul Barrett, CEO of Hysata, responded to the interest, saying, "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."
Gareth Burns, Vice President of bp Ventures, spoke of the potential of Hysata's technology in advancing bp's goals in low carbon hydrogen production. "We know that green hydrogen can play a big role in decarbonization... [Hysata's] technology could help save energy and reduce production costs, addressing two challenges of the green hydrogen market," Burns said.
