Hysata raises AU$42.5 million to accelerate electrolyser tech development

Australian hydrogen electrolyser developer Hysata has raised AU$42.5 million in its latest funding round, exceeding expectations. Funding from the Series A round will be used to grow the company's team and develop a pilot manufacturing facility.

According to Hysata, its electrolyser operates at 95% system efficiency (41.5 kWh/kg), delivering a giant leap 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.

The funding round was led by Virescent Ventures on behalf of the Clean Energy Finance Corporation (Australia), with participation from Kiko Ventures (UK), IP Group Australia, Vestas Ventures (Denmark), Hostplus (Australia), and BlueScope (Australia), via its ventures arm BlueScopeX TM.

“Our mission is to redefine the economics of green hydrogen production through our innovative proprietary electrolyser technology,” said Paul Barrett, CEO of Hysata. “The support of this international syndicate of clean energy practitioners and investors validates our core technology and our approach to scaling and mass manufacture.

“Over the last 12–18 months, Hysata has been interacting with dozens of major customers globally. The impact our efficiency and system simplicity delivers to customers’ project economics truly moves the needle. We look forward to continuing to work with our shareholders and customers to bring this much needed technology to market as soon as possible.”

HTW Editorial Team

HTW Editorial Team

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