Hystar, a Norwegian company that has developed a novel PEM electrolysis technology, has raised over NOK 50mm in capital. Hystar’s electrolyser produces green hydrogen using less energy than existing technologies and enables a substantial increase in hydrogen production output.
AP Ventures, a significant investor in breakthrough hydrogen technologies, led the fundraise, alongside SINTEF Ventures, the investment fund of the SINTEF research institute, and Firda, a pioneering early-stage investor in Norway.
Hystar has developed a PEM electrolysis technology that enables green hydrogen to be produced at higher efficiencies than existing PEM technologies.
A unique cell design and process architecture offers an exciting opportunity to reduce electricity consumption and increase hydrogen output, significantly lowering the cost of green hydrogen production from PEM electrolysis. The technology will target the growing global demand for green hydrogen for industrial, renewable power and mobility applications.
🔥 What about we co-host a webinar? Let's educate, captivate, and convert the hydrogen economy!
Hydrogen Central is the global go-to online magazine for the hydrogen economy, we can help you host impactful webinars that become a global reference on your topic and are an evergreen source of leads. Click here to request more details
Fredrik Mowill, Hystar CEO:
On behalf of the Hystar team I am delighted to welcome our new shareholders and look forward to benefitting from their extensive knowledge and network within the hydrogen space.
“With the backing of AP Ventures, Sintef and Firda, we are now in a position to accelerate development of Hystar’s unique PEM electrolyser and aim to make a significant impact in the growth and deployment of green hydrogen in the marketplace”
Kevin Eggers, Partner, AP Ventures:
We believe that green hydrogen production has a long and attractive future globally, and we consider the ability to produce it at the efficiencies achieved by Hystar as a significant breakthrough in the electrolysis space.
“Hystar’s technology will reinforce hydrogens pivotal role in the transition to a decarbonised future”
John Torvik, Investment Director, SINTEF Venture:
We at SINTEF are exceptionally proud to partake in commercializing high-impact green hydrogen technology and also for backing this word-class team
Geir Førre, Managing Partner, Firda:
At Firda, we have increasingly been looking for investments that contribute to reducing carbon emissions.
“The technology developed by the Hystar team has the potential to accelerate the adoption of green hydrogen production worldwide, which we believe is an important part of the move away from fossil fuels. We have been impressed by the capabilities and values of the Hystar team and find it very meaningful to work with them to bring this technology to the market.”
Inside this cabinet is the technology that they hope can make green hydrogen more cost effective.
(Photo: Mikaela Berg)
