In a recent development within the green hydrogen sector, Australia-based Hysata announced a significant investment of US$111.3 million to advance its innovative electrolyser technology, aimed at enhancing green hydrogen production efficiency and reducing costs. The funding round was led by bp Ventures and Templewater, receiving robust support from both new and existing investors such as IP Group Australia, Virescent Ventures, Hostplus, Vestas Ventures, and several others including POSCO Holdings and Shinhan Financial Group.
Hysata’s capillary-fed alkaline electrolyser technology promises to revolutionize green hydrogen production by using less energy and thereby, reducing operational costs. This technology is central to the company’s strategy to scale up its operations to gigawatt levels at its facility in Wollongong, New South Wales.
CEO Paul Barrett emphasized the company’s commitment to accelerating the decarbonization of sectors that are traditionally difficult to abate, such as steel and chemical manufacturing. “With high-efficiency, intrinsically low capex, and mass-manufacturable design, Hysata aims to drive down the levelized cost of hydrogen,” Barrett stated.
The investment underscores the growing global confidence in green hydrogen as a pivotal element in achieving climate goals. The International Energy Agency highlights the need for transitioning to low-carbon hydrogen, especially in heavy industry and long-distance transport, to meet global climate targets.
Gareth Burns of bp Ventures remarked on the potential of Hysata’s technology to conserve energy and slash production costs, which are significant hurdles in the green hydrogen market. Meanwhile, Alfred Wong of Templewater lauded the investment as a step towards driving the global shift to sustainable energy solutions.
This investment aligns with bp’s strategy to expand its low-carbon hydrogen production capabilities and establish hydrogen energy hubs, notably in Australia.
