Hysata announces $111m USD Series B investment round – Hysata
Summary
Hysata has closed the largest Series B in Australian clean tech history, announcing an $111m USD investment round with strong backing from existing major strategic and financial global investors. bp Ventures and Templewater each invest $10m to co-lead the $111.3m USD Series B round Hysata is developing high-efficiency electrolysers with a simpler, cheaper and modular systemAustralia-based company Hysata is developing new high-efficiency electrolysers that aim to produce green hydrogen at scale with higher energy efficiency and lower costs than alternative technologies. The companys technology combines engineering and science in a unique capillary-fed alkaline electrolyser that uses less energy to convert water to hydrogen.bp Ventures and Templewater led the recent $111.3 million USD investment round in the company, with strong backing from existing major strategic and financial investors IP Group Australia, Kiko Ventures (IP Group plcs cleantech platform), Virescent Ventures on behalf of Clean Energy Finance Corporation, Hostplus, Vestas Ventures and BlueScopeX.The company also welcomed new major strategic and financial investors POSCO Holdings, POSCO E&C, IMM Investment Hong Kong, Shinhan Financial Group Co., Twin Towers Ventures, Oman Investment Authoritys VC arm IDO and TelstraSuper.Hysata will use the funding to expand production capacity at its iconic beachside manufacturing facility in Wollongong, New South Wales and further develop its technology as it focuses on reaching gigawatt scale manufacturing.Hysata CEO, Paul Barrett, said: Our mission at Hysata is to accelerate the deep decarbonisation of hard-to-abate sectors such as steel, chemical manufacture, and heavy transport, by delivering the worlds most efficient, simple, and reliable electrolysers. It will strengthen our team and enhance our capabilities, as we propel towards widespread commercial availability.I am thrilled to have bp Ventures, Templewater and other new investors join ranks with our incredible existing shareholder base. Our investment in Hysata is a testament to Templewaters commitment to support mission-driven companies that are working towards solving the worlds biggest climate challenges.Hydrogen is one of bps transition growth engines that it plans to grow by the end of the decade.