Hysata, an Australian company making advanced green hydrogen electrolysers, has secured $111 million USD in funding. The investment was led by bp Ventures and Templewater, with additional support from several key investors.
Hysata is known for creating highly efficient electrolysers that produce green hydrogen more effectively and cheaply than other technologies. Their unique capillary-fed alkaline electrolyser uses less energy to turn water into hydrogen.
The recent funding round saw contributions from major backers like IP Group Australia, Kiko Ventures, Virescent Ventures on behalf of Clean Energy Finance Corporation, Hostplus, Vestas Ventures, and BlueScopeX. New investors, including POSCO Holdings, POSCO E&C, IMM Investment Hong Kong, Shinhan Financial Group, Twin Towers Ventures, Oman Investment Authority’s VC arm IDO, and TelstraSuper, also joined in.
With this new funding, Hysata plans to expand production at its beachfront facility in Wollongong, New South Wales, and further develop its groundbreaking technology, aiming to reach gigawatt-scale manufacturing.
Paul Barrett, CEO of Hysata, expressed his excitement: “This investment from world-class investors shows the significant impact Hysata is making in the green hydrogen industry. The funding will help us grow our team and capabilities, moving us closer to making our technology widely available. We are thrilled to have bp Ventures, Templewater, and other new investors on board.”
The International Energy Agency highlights the urgent need to switch to low-carbon hydrogen for climate goals, and Hysata’s technology could surpass the International Renewable Energy Agency’s 2050 efficiency targets.
Oliver Gower from bp Ventures commented, “Hysata’s technology can save energy and reduce production costs, tackling two big challenges in the green hydrogen market. We are excited about Hysata’s future.”
Alfred Wong, Partner at Templewater, added, “Hysata’s high-efficiency technology could be key in the global shift to sustainable energy. Our investment shows Templewater’s commitment to supporting companies addressing major climate challenges.”
Hydrogen is a key part of bp’s strategy to become a leader in low-carbon hydrogen production. bp is developing several hydrogen energy hubs, including H2 Kwinana and the Australian Renewable Energy Hub (AREH) in Australia.
With this significant investment, Hysata is well-positioned to make a major impact in the green hydrogen industry, helping to drive the world towards a more sustainable energy future.S