Hysata, a player in the hydrogen sector, has recently secured a significant $111 million in Series B fundraising. Led by bp Ventures and Templewater, the investment is earmarked for expanding production capacity and advancing technology development.
The infusion of funds is expected to fuel the expansion of Hysata’s production capacity at its Australian facility in Wollongong, New South Wales. Additionally, the company aims to focus on achieving gigawatt-scale manufacturing, a significant milestone in the hydrogen industry.
The fundraising round saw the participation of various strategic and financial investors, including bp Ventures, Templewater, and existing backers like IP Group Australia. The addition of new investors like POSCO Holdings and Shinhan Financial Group reflects growing interest and confidence in Hysata’s potential.
Hysata’s CEO, Paul Barrett, emphasizes the company’s mission to drive down the levelized cost of hydrogen. This goal aligns with the company’s focus on developing efficient, simple, and reliable electrolysers with high efficiencies and mass-manufacturable designs.
The investment in Hysata’s electrolyser technology has caught the attention of industry players like bp, hinting at potential collaborations in future hydrogen projects. With bp’s strategic focus on blue hydrogen for the decade, Hysata’s technology could play a crucial role in enhancing energy efficiency and reducing production costs.
As bp continues to develop regional hydrogen energy hubs like the Australian Renewable Energy Hub, Hysata’s advancements in electrolyser technology could contribute to the realization of large-scale green hydrogen production. However, challenges lie ahead in achieving widespread commercial availability and addressing the evolving dynamics of the hydrogen market.
