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Green Hydrogen startup Hysata raises $111 million

Hysata, headquartered in Australia, has recently secured a substantial investment of US$111.3 million to propel its innovative electrolyser technology geared towards enhancing green hydrogen production efficiency and cost reduction. The funding, spearheaded by bp Ventures and Templewater, garnered strong backing from both new and existing investors including IP Group Australia, Virescent Ventures, Hostplus, Vestas Ventures, as well as notable entities like POSCO Holdings and Shinhan Financial Group.

Hysata’s capillary-fed alkaline electrolyser technology is poised to transform green hydrogen production dynamics by minimizing energy consumption and thereby cutting operational expenses. This technology stands at the core of the company’s ambition to upscale its operations to gigawatt levels at its facility located in Wollongong, New South Wales.

CEO Paul Barrett underscored the company’s dedication to expediting the decarbonization of industries traditionally resistant to emissions reduction, such as steel and chemical manufacturing. “By offering high-efficiency, inherently low capital expenditure, and scalable design, Hysata endeavors to drive down the levelized cost of hydrogen,” Barrett emphasized.

The investment underscores the mounting global confidence in green hydrogen as a crucial component in achieving climate objectives. The International Energy Agency emphasizes the imperative of transitioning to low-carbon hydrogen, particularly in heavy industry and long-haul transportation, to meet global climate benchmarks.

Gareth Burns of bp Ventures highlighted the potential of Hysata’s technology to conserve energy and significantly lower production expenses, which are substantial challenges in the green hydrogen market. Concurrently, Alfred Wong of Templewater praised the investment as a stride towards propelling the worldwide transition to sustainable energy solutions.

This investment aligns seamlessly with bp’s strategic agenda to expand its low-carbon hydrogen production capacities and establish hydrogen energy hubs, notably in Australia.

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