Clean Tech Startup Hysata Secures Impressive $172 Million in Series B Funding

• Clean tech startup Hysata secures $172 million in Series B funding, the largest in Australia for a cleantech startup
• Hysata develops high-efficiency electrolyser for green hydrogen production to decarbonize industries like steel and transport
• Funding led by bp Ventures and Templewater, with participation from various strategic and financial investors
• Hysata plans to scale up production capacity for electrolyser technology to drive down hydrogen production costs
• Hysata aims to expand globally, increase employee count to over 200, and achieve energy efficiency surpassing 2050 targets

Clean Tech Startup Hysata Secures $172 Million in Series B Funding

Clean tech startup Hysata, led by CEO Paul Barrett, has made waves in the green hydrogen industry by raising an impressive $172 million in Series B funding. This funding round, which is considered Australia’s largest-ever for a cleantech startup, has garnered support from prominent global investors.

Revolutionizing Green Hydrogen Production

At the core of Hysata’s success lies its innovative high-efficiency electrolyser technology. This groundbreaking technology is poised to revolutionize the production of green hydrogen, offering a more sustainable and efficient alternative for industries such as steel making, chemical manufacturing, and heavy transport. By significantly reducing the energy required to convert water into hydrogen, Hysata’s electrolyser has the potential to accelerate the decarbonization efforts across various sectors.

Strategic Backing from Global Investors

The impressive $172 million funding round was co-led by bp Ventures, the venture arm of oil and gas giant bp, and Templewater, an alternative asset management firm based in Hong Kong. Additionally, a roster of strategic and financial investors, including IP Group Australia, Virescent Ventures, Hostplus, and Vestas Ventures, showed their support for Hysata’s vision. The participation of new investors, such as POSCO Holdings, Shinhan Financial Group, and Oman Investment Authority’s VC arm IDO, underscores the industry’s recognition of Hysata’s potential.

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Future Growth and Expansion

With this substantial funding injection, Hysata aims to ramp up its production capacity to achieve gigawatt-scale manufacturing of its electrolyser. CEO Paul Barrett envisions driving down the levelised cost of hydrogen from the company’s manufacturing facility in Wollongong. The expansion plans not only include scaling up production but also growing the team to over 200 employees and expanding operations beyond Australia.

In a statement following the funding announcement, Barrett expressed his confidence in Hysata’s trajectory, emphasizing the pivotal role the company is playing in shaping the green hydrogen landscape. The endorsement from investors like bp Ventures further solidifies Hysata’s position as a key player in the transition towards sustainable energy solutions.

As the demand for clean technologies continues to rise, Hysata’s innovative approach to green hydrogen production stands out as a beacon of hope for a more sustainable future. The company’s commitment to driving efficiency and reducing costs in the green hydrogen market has garnered widespread attention and support from investors and industry experts alike. With the latest funding round propelling its growth, Hysata is well-positioned to lead the charge towards a greener, more sustainable tomorrow.