IP Group congratulates Hysata on successful Series A funding round
Summary
IP Group Australia is proud to announce that portfolio company Hysata has successfully completed its oversubscribed $A42.5 million Series A funding round for its world-leading hydrogen electrolyser technology after receiving backing from leading global investors.IP Group Australia contributed $A9 million in the oversubscribed Series A, after leading the seed investment in Hysata in June 2021.Michael Molinari, Managing Director of IP Group Australia, said: We are proud to announce our strong continuing support of Hysata in this Series A funding round. We have worked closely together with the team since the technology was developed by Professor Swiegers and his group at the University of Wollongong, and it is great to see such strong interest from the global investment community.Hysata is a great example of the IP Group model in action, bringing together world-leading technology from Australian universities and a great team to build a company that is redefining the economics of green hydrogen.Virescent Ventures led the funding round on behalf of the federal governments Clean Energy Finance Corporation (CEFC), with Hostplus, Bluescope, Kiko Ventures (a platform within IP Group plc) and Denmarks Vestas Ventures also taking part. The extensive end use cases for green hydrogen translate to a greater than trillion-dollar market opportunity.Over the last 12-18 months, Hysata has been interacting with dozens of major customers globally. Backed by leading global investors, Hysata is moving rapidly towards manufacturing at the multi-gigawatt scale needed to address climate change. The Group has a strong track record of success, having been the founder investor in a number of high-profile companies including Oxford Nanopore Technologies plc.