Australian electrolyser maker Hysata secures $111 million from global investors

Hysata has closed the largest Series B in Australian clean tech history, announcing USD 111 million investment round with strong backing from existing major strategic and financial global investors.

This is a significant milestone that demonstrates global recognition for Hysata’s game changing high efficiency electrolyser (41.5 kwh/kg incl BoP) with intrinsically low capex and a capital efficient path to mass manufacturing.

Hysata is developing new high-efficiency electrolysers that aim to produce green hydrogen at scale with higher energy efficiency and lower costs than alternative technologies. The company’s technology combines engineering and science in a unique capillary-fed alkaline electrolyser that uses less energy to convert water to hydrogen.

bp Ventures and Templewater led the investment round, with strong backing from existing major strategic and financial investors IP Group Australia, Kiko Ventures (IP Group plc’s cleantech platform), Virescent Ventures on behalf of Clean Energy Finance Corporation, Hostplus, Vestas Ventures and BlueScopeX.

Hysata will use the funding to expand production capacity at its iconic beachside manufacturing facility in Wollongong, New South Wales and further develop its technology as it focuses on reaching gigawatt scale manufacturing.

Hysata CEO, Paul Barrett, said, “Our mission at Hysata is to accelerate the deep decarbonisation of hard-to-abate sectors such as steel, chemical manufacture, and heavy transport, by delivering the world’s most efficient, simple, and reliable electrolysers. With high-efficiency, intrinsically low capex and a mass-manufacturable design, Hysata aims to drive down the levelised cost of hydrogen.

The International Energy Agency has said that to meet climate ambitions, there is an urgent need to switch hydrogen use in existing applications to low carbon hydrogen and to expand its use to new applications in heavy industry or long-distance transport. At scale, Hysata’s electrolysers could achieve energy efficiency well above International Renewable Energy Agency’s 2050 efficiency target.

Gareth Burns, Vice President of bp Ventures, added, “This is the first advanced alkaline electrolyser technology that bp Ventures has invested in. It could provide optionality for our hydrogen business as bp aims to become a global leader in low carbon hydrogen production. Hysata’s technology could help save energy and reduce production costs, addressing two challenges of the green hydrogen market.”

Hydrogen is one of bp’s transition growth engines that it plans to grow by the end of the decade. bp has a number of regional hydrogen energy hubs it is developing, including in Australia, such as H2 Kwinana and the Australian Renewable Energy Hub (AREH).