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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 government’s Clean Energy Finance Corporation (CEFC), with Hostplus, Bluescope, Kiko Ventures (a platform within IP Group plc) and Denmark’s Vestas Ventures also taking part. This high-profile group of investors underlines the significance of the transformation that Hysata is bringing to the green hydrogen industry with its world-leading technology.

Hysata’s electrolyser can produce green hydrogen from water at 95 per cent system efficiency (41.5 kWh/kg), delivering a giant leap in performance and cost over incumbent technologies which typically operate at 75 per cent or less. This high efficiency, coupled with the simple approach to mass manufacturing and low supply chain risk, puts Hysata on a path to delivering the world’s lowest cost green hydrogen, well below $A2/kg.

The funding from the Series A will be used to expand the Hysata team and develop a pilot manufacturing facility. 

Paul Barrett, Chief Executive Officer at Hysata and former Head of Physical Sciences at IP Group Australia, said: “Our mission is to redefine the economics of green hydrogen production through our innovative proprietary electrolyser technology. The support of this international syndicate of clean energy practitioners and investors validates our core technology and approach to scaling and mass manufacturing.

“Green hydrogen is a vital energy vector on the world’s path to net zero, critical to decarbonising the hard-to-abate, yet vital, sectors of our economy such as steelmaking, heavy transport, and the chemical industry. 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. The impact our efficiency and system simplicity delivers to customers’ project economics truly moves the needle. We look forward to continuing to work with our shareholders and customers to bring this much-needed technology to market as soon as possible.”

 

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Media contact:  Aileen Bodart, Cannings Strategic Communications, +61 432 160 136

 

About Hysata

Hysata is an Australian electrolyser company that is developing a completely new type of electrolyser, featuring the world’s most efficient electrolysis cell coupled with a simplified balance of plant. Electricity makes up most of the cost of green hydrogen and therefore, the most efficient electrolyser will deliver the lowest cost hydrogen. The Hysata founding team comprises electrolyser industry veterans, with deep expertise in the design and scale-up of novel electrolysers. Building on that foundation, we are growing a world-class engineering, manufacturing and commercial team with a footprint on multiple continents. Backed by leading global investors, Hysata is moving rapidly towards manufacturing at the multi-gigawatt scale needed to address climate change. For more information visit www.hysata.com

 

About IP Group

IP Group develops world-changing science and technology businesses across life sciences, technology and cleantech (through Kiko Ventures). 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. In Australia and New Zealand, IP Group works in close partnership with the Go8 Universities and the University of Auckland to identify ground-breaking technologies rooted in hard science, which have the most promising commercial potential. IP Group is listed on the Main Market of the London Stock Exchange under the code IPO. For more information, please visit our website at  www.ipgroupanz.com