hysata raises over 111 million in series b for high efficiency green hydrogen tech 384

Science and Technology

Hysata Raises Over $111 Million in Series B for High-Efficiency Green Hydrogen Tech


Benjamin Hughes

May 8, 2024 - 21:58 pm


Revolutionizing Green Hydrogen: Hysata's Pioneering Electrolyser Technology Backed by Global Investment Giants

In an ambitious stride toward bolstering the green hydrogen industry, Hysata, a forward-thinking company hailing from Australia, has announced the successful closure of their $111.3 million USD Series B funding round. This milestone investment is spearheaded by bp Ventures and Templewater, who each contributed a substantial $10 million to take the lead in this significant phase of fundraising.

The novel approach formulated by Hysata involves the development of high-efficiency electrolysers which pivot on a design that is both simpler and more cost-effective than those currently dominating the market. Hysata's inventive model utilizes a capillary-fed alkaline electrolyser and is characteristically unique for its efficient energy consumption when converting water into hydrogen.

The focus of Hysata is not only on creating a more efficient means to produce green hydrogen but also in scaling its production. By advancing the capabilities of electrolysers to reach gigawatt-scale manufacturing, Hysata is setting sights on a future where green hydrogen is readily available and economically viable, bolstering the deep decarbonisation of industries historically known for high carbon emissions such as steel production and heavy transport.

Hysata's CEO, Paul Barrett, emphasizes the company's commitment to delivering the most efficient, straightforward, and reliable electrolysers. Barrett envisions a significant reduction in the levelised cost of hydrogen, heralding a new era of accessibility and sustainability. He expresses immense satisfaction in the trust and support from the syndicate of investors, affirming the transformative potential of Hysata's technology within the green hydrogen sector.

Raising Capital for a Sustainable Future

Investors have shown robust confidence in Hysata's pioneering technology, with the recent funding round seeing contributions from a mix of returning and new investors. Among the returning contributors are IP Group Australia, Kiko Ventures, Virescent Ventures representing the Clean Energy Finance Corporation, Hostplus, Vestas Ventures, and BlueScopeX. They are joined by prominent new strategic and financial backers such as POSCO Holdings, POSCO E&C, IMM Investment Hong Kong, Shinhan Financial Group, Twin Towers Ventures, the venture capital arm of Oman Investment Authority (IDO), and TelstraSuper.

The infusion of capital is earmarked for expanding Hysata's production capacity at its iconic beachside manufacturing plant situated in Wollongong, New South Wales. As the company zeros in on elevating its technology and moving toward gigawatt-scale manufacturing, it's preparing to ride the momentum of this significant financial boost.

On the Forefront of Energy Efficiency

The embrace of hydrogen as a vital energy source is becoming more pronounced, as underscored by the International Energy Agency's urgency in switching to low carbon hydrogen for current uses and in extending its applications to cope with the demanding needs of heavy industry and long-haul transport. Hysata's ambitious trajectory is well positioned to meet and potentially exceed the 2050 energy efficiency targets laid out by the International Renewable Energy Agency.

Gareth Burns, Vice President of bp Ventures, noted the substantial role green hydrogen has in the larger framework of decarbonisation. This investment marks a significant moment for bp Ventures as it dives into advanced alkaline electrolyser technology for the first time, magnifying the options for bp's burgeoning hydrogen operations. Burns expresses optimism for the energy-saving and production cost-cutting potential brought forward by Hysata's breakthroughs and anticipates the company's forthcoming advancements.

A Testament to Templewater's Commitment

Alfred Wong, Partner at Templewater, echoes the jubilation, underlining the firm's active participation in steering the green revolution. They regard the high-efficiency technology pioneered by Hysata as instrumental to the global pivot toward renewable energy sources and celebrate the investment as a reflection of Templewater's promise to nurture enterprises that grapple with paramount climate concerns.

Expanding bp's Hydrogen Horizons

bp has set its sights on developing a suite of regional hydrogen energy hubs, including ventures in Australia like H2 Kwinana and the Australian Renewable Energy Hub (AREH). Hysata's advancements align with bp's aspirations to become a significant player in the global landscape of low carbon hydrogen production, identifying hydrogen as one of its transition growth engines foreseen to expand by the decade's end.

A Closer Look at Hysata

Diving into details about the company, Hysata stands proud as an Australian entity endeavouring to redefine the electrolyser technology landscape. From its headquarters in Wollongong, the company prides itself on the development of one of the most efficient cells for electrolysis worldwide, woven into an electrolyser design that simplifies the balance of plant. In the drive to produce green hydrogen, the cost of electricity forms a significant part of the equation, placing efficiency at the top. A high-efficiency electrolyser, therefore, guarantees a lower hydrogen production cost.

Hysata's talent pool draws from remarkable industry experience, with experts from giants such as Apple, Tesla, BHP, and McKinsey converging to create a world-class team. With approximately 75 employees on board, Hysata envisions a future where the company's staff exceeds 200 across multiple continents, playing a pivotal role in the global shift to net-zero emissions by 2050. Those intrigued by Hysata's aspirations and progress can explore further on their website, available at

Exploring bp Ventures' Innovation Investment

bp Ventures, functioning as bp's corporate venture capital arm for over a decade, has made a lasting impact with investments surpassing $1 billion in trailblazing technology companies, now managing around 40 investments actively. The venture arm zooms in on equity investments in burgeoning private businesses catalyzing innovation across an array of bp's transition growth engines encompassing renewables, EV charging, convenience, bioenergy, and hydrogen. For a more in-depth perspective on bp Ventures, interested parties are encouraged to visit

Spotlight on Templewater Group

Templewater Group, known in more official circles as "Templewater," is a distinguished player in the alternative asset management space, operating out of Hong Kong. Established by Cliff Zhang, in conjunction with the Investec Group in 2018, the firm extends the legacy and investment prowess of the Investec Group's Principal Investments Division in Asia.

Templewater demonstrates an unwavering emphasis on impact investing through its Templewater Decarbonization Fund, a concentrated effort to push the global transition to a less carbon-intensive economy. The fund strategically deploys capital into pioneering technologies within the hydrogen, energy storage, and CCUS sectors, striving for a smoother and more efficient shift in energy usage. For more data on Templewater and its initiatives, visitors can navigate to

Forward-Looking Statements

bp has taken the initiative to caution readers regarding the forward-looking statements incorporated in this press release, covering a range of topics that encompass aspects of bp's financial status, operational results, and certain strategic objectives. bp utilizes specific language, discernible by phrases such as "expects," "intends," and "plans," to distinguish these projections about the future.

However, it's crucial for all stakeholders to bear in mind that the actual outcomes could diverge from those discussed in said forward-looking statements, due to a multitude of factors including various risk considerations which are comprehensively listed in bp's most recent Annual Report and Form 20-F under "Risk factors," along with other contemporary public reports.

Those seeking bp's latest Annual Report and Form 20-F, along with filings from other periods, can access such materials on bp's website at, or through the U.S. Securities and Exchange Commission (SEC) by calling 1-800-SEC-0330 or visiting its website at

Endnotes and References

To substantiate the conversations on global hydrogen assessments and future energy transitions, bp and Hysata refer to authoritative reports by the IEA and the IRENA. The full reports and their insights into the evolving role of hydrogen and global energy dynamics are available for public review and can be found as follows:

  1. IEA (2023), Global Hydrogen Review 2023, IEA, Paris, accessible at, under the CC BY 4.0 license.

  2. IRENA (2022), World Energy Transitions Outlook 2022: 1.5°C Pathway, International Renewable Energy Agency, Abu Dhabi.

Closing Remarks

Hysata Pty Ltd, the innovative force reimagining the future of sustainable energy stands at the forefront of a green revolution. It's a journey of efficiency, scalability, and global impact, paving the way for a world where green hydrogen isn't just a possibility, but a fundamental pillar of next-generation clean energy.