Hysata closes $42.5M AUD Sequence A to commercialize capillary-fed electrolysis
Australia-based Hysata, which is commercializing capillary-fed electrolysis know-how developed on the College of Wollongong (earlier submit) has closed its oversubscribed Sequence A funding spherical of $42.5 million AUD (US$30 million). Virescent Ventures led the funding spherical on behalf of the Clear Power Finance Company (CEFC) (Aus), with participation from Kiko Ventures (UK), IP Group Australia, Vestas Ventures (Denmark), Hostplus (Aus) and BlueScope (by way of its ventures arm BlueScopeX TM) (Aus).
The Hysata electrolyzer provides water to the hydrogen- and oxygen-evolving electrodes by way of capillary-induced transport alongside a porous inner-electrode separator.
Impressed by the historic evolution of water electrolysis cell architectures culminating within the direct manufacturing of one of many gases, the Capillary-Fed Electrolysis cell instantly produces each gases. Liquid electrolyte is constantly drawn up the separator by a capillary impact, from a reservoir on the backside of the cell. The porous, hydrophilic separator sustains the move fee required for water electrolysis. Hodges et al.
The Hysata electrolyzer operates at 95% system effectivity (41.5 kWh/kg), delivering a large leap in efficiency and value over incumbent applied sciences, which usually function at 75% or much less. This excessive effectivity, coupled with the straightforward method to mass manufacturing and low provide chain danger places the corporate on a path to delivering the world’s lowest value inexperienced hydrogen.
Funding from the Sequence A spherical will likely be used to develop the Hysata group and develop a pilot manufacturing facility.
The CEFC invested $10 million into the Sequence A funding spherical, constructing on its preliminary $750,000 funding within the early business improvement of Hysata’s analysis. CEFC CEO Ian Learmonth mentioned that backing an organization like Hysata and its cutting-edge electrolyzer know-how is important in serving to to develop Australia’s clear know-how ecosystem.
Hodges, A., Hoang, A.L., Tsekouras, G. et al. (2022) “A high-performance capillary-fed electrolysis cell guarantees extra cost-competitive renewable hydrogen.” Nat Commun 13, 1304 doi: 10.1038/s41467-022-28953-x