Hysata is the new green hydrogen technology company that has successfully raised $42.5 million as it looks to develop a gigawatt scale manufacturing plant. This fledgling start-up has drawn many investors with its groundbreaking proprietary electrolyzer technology.
Hysata’s visionary CEO Paul Barrett said the company plans to reduce the costs incurred during green hydrogen production while increasing efficiency. This will bring it to many more players and help propel the global conversion to net zero emissions.
‘Our mission is to redefine the economics of green hydrogen production through our innovative proprietary electrolyzer technology. The support of this international syndicate of clean energy practitioners and investors validates our core technology and approach to scaling and mass manufacture.’
Essentially green hydrogen decarbonizes large industries by its virtual zero carbon emissions. What makes it even more promising is that it can be harnessed by end users in a widespread and far-reaching way via several applications, potentially creating trillion-dollar marketing prospects.
Hysata started at the University of Wollongong in 2021 with a take-off seed fund of $5 million provided by the Clean Energy Finance Corp and IP Group. Flush with such support from the onset, Hysata came out to publicly announce in June 2021 that she had come up with a revolutionary technology that would deliver the cheapest green hydrogen on planet earth.
Hysata’s unique capillary-fed electrolysis (CFE) cell technology yields green hydrogen of 95% efficiency, which is an amazing feat for a start-up. The current global average of 75%.
Sponsors like Vestas, known for manufacturing wind turbines, and BlueScope which is one of Australia’s steel-making giants, are eager to tie their businesses with this novel green hydrogen technology.
Todd O’Neill, CEO of Vestas Ventures, said, ‘As the venture capital arm of the world’s leading renewable technology provider, Vestas Ventures foresees great potential in combining wind power with electrolyzers for green hydrogen production. We are delighted to have been invited to invest in Hysata. Nurturing disruptive renewable technologies is central to our investment strategy, and we look forward to following Hysata’s success over the coming years.’
In the 21st century, green hydrogen is poised to emerge as the alternative of choice to fossil fuel in a modern energy-hungry world. It has the potential capacity to provide 20% of the world’s energy demand.
Hysata’s technological breakthrough can now realistically make 1 kilogram of green hydrogen cost $2, which is nothing short of miraculous. This massive fall in cost will radically change the economics of green hydrogen production.
Hysata’s new type of hydrogen electrolyzer, which uses electricity to crack the bonds of water molecules into oxygen and hydrogen, is the key technology for producing green hydrogen.
Some investors include Vestas Ventures from Denmark, Kiko Ventures from the UK, and Australian investors IP Group Australia, Hostplus, and BlueScope. This $42.5 million fund will ensure that Hysata’s objective to build a gigawatt scale manufacturing plant for its advanced state-of-the-art proprietary electrolyzer technology is possible.
Virescent Ventures led the funding round for Clean Energy Finance Corporation (CEFC). CEFC CEO Ian Learmonth noted that partnering with Hysata and its electrolyzer technology was vital to boosting Australia’s clean technology ecosystem.
‘The CEFC has a strong focus on hydrogen-related investments through our Innovation and Advancing Hydrogen Funds, and we are delighted to see Hysata continue to advance hydrogen to help meet future energy needs and reduce emissions in more sectors of the Australian economy.’
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