ORLEN Venture Capital, the investment arm of the ORLEN Group, has announced a strategic investment in Hystar AS, a Norwegian company known for its advanced high-efficiency PEM (proton-exchange membrane) electrolyser technology. The move strengthens ORLEN’s commitment to scaling up zero-emission hydrogen production as part of its long-term clean energy goals.
Backing Next-Generation Electrolyser Technology
Hystar’s proprietary platform features membranes that are up to 90% thinner than those used in traditional PEM systems. This innovation significantly improves energy efficiency while reducing hydrogen production costs. Since launching commercial deliveries in 2022, Hystar has been offering 0.65 MW membrane stacks and turnkey 5 MW electrolysers, certified under ISO 17268.
The investment aligns with ORLEN’s 2035 Strategy, which targets the production of 350,000 tons of renewable and low-emission hydrogen annually by that year.
Enhancing ORLEN’s Hydrogen Capabilities
“This investment provides not only access to cutting-edge electrolyser technology but also creates opportunities for joint development and implementation,” said Grzegorz Jóźwiak, Director of Hydrogen Technologies and Synthetic Fuels at ORLEN. “Hystar’s solutions play a vital role in supporting our decarbonization objectives.”
Beyond equipment, the partnership also gives ORLEN access to technical expertise, collaborative innovation, and a stake in Hystar’s future manufacturing and technology roadmap.
Scaling to Meet Industrial Demand
Hystar’s modular electrolyser systems can be tailored to various industrial applications, offering flexibility and scalability. The company is on track to open its automated production facility in 2027, with an initial annual capacity of 1.5 GW, which is expected to rise to 4.5 GW by 2031. These plans position Hystar as a major contributor to the global hydrogen supply chain.
EU Backing Accelerates Growth
Earlier this year, Hystar secured a EUR 26 million grant from the European Innovation Fund to support the automation of its manufacturing operations. Including ORLEN VC’s participation, the company has raised over EUR 32 million in its current funding round. The funds will cover Hystar’s equity requirements for the EU grant and help sustain operations through 2027.
ORLEN VC’s Expanding Role in Clean Energy Innovation
Hystar becomes the 13th company in ORLEN VC’s portfolio, marking another milestone for the fund, which has emerged as one of the most active corporate investors in Central Europe since its inception less than three years ago. The venture arm also holds positions in two international VC funds.
As outlined in its strategy, ORLEN VC plans to close around five new investments annually, targeting market-ready innovations that align with ORLEN Group’s core focus areas: clean energy, decarbonization, and industrial transformation.
