'World's cheapest green hydrogen' | Started with ultra-efficient electrolyzer to develop pilot plant after securing $29 million | Refillable

Australian startup Hysata, which says it has developed the world’s most efficient electrolyzer, has raised A$42.5 million ($29.4 million) in an oversubscribed Series A funding round.

The money will be used to develop the company’s team and “develop a pilot manufacturing facility” for the innovative “capillary” technology, which it says will be able to deliver “the world’s lowest-cost green hydrogen” due to its superior efficiency. .

In simple terms, the biggest element of the levelised cost of green hydrogen (LCOH) is the cost of renewable electricity used, so that less power is required for the electrolyzer to produce every kilogram of H₂the lower the LCOH.

Hysata says the capillary-fed electrolyzer (CFE) only requires 41.5 kWh of electricity per kg of hydrogen. The industry benchmark for highly efficient electrolyzers is 50kWh/kg.

“Hysata’s electrolyzers operate at 95% system efficiency (41.5 kWh/kg), delivering a huge leap in performance and cost over older technologies, which typically operate at 75% or less. [52.5kWh/kg], said the company. The efficiency figure refers to 39.4kWh (HHV) the energy contained in one kilogram of H₂.

“This high efficiency, coupled with a simple approach to mass production and low supply chain risk puts the company on track to produce green hydrogen at the lowest cost in the world.”

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The company explains on its website that the green hydrogen project produces one million tons of H₂ per year using 52.5kWh/kg electrolyzer would require 14GW of wind and solar power in a world-class location. With CFE, the same developer needed only 11GW of renewable energy — a cost savings of about $3 billion (assuming an average capital cost for renewables of $1 million per MW).

Hysata says CFE offers a “step-change improvement over existing designs”, not only in terms of electrolyzer stacks, but also simplified plant balance (BOP) and modular manufacturing that is easy to automate and scale.

Graphics explaining Hysata’s innovative technology. Photo: Hysata

The electrolyzer offers “a low-cost design, based on materials abundant in the earth”, the company said – a reference to the high-cost iridium required in PEM electrolyzers – while “the high efficiency of the cell eliminates the need for expensive cooling”.

“The integrated BOP and stack design provides an optimized turnkey system that produces high-purity green hydrogen at the lowest level of cost”, adds the Hysata website.

[Hysata] set to become a major player in the global electrolyzer industry

The company plans to reach gigawatt-scale production by 2025.

As part of a Series A funding round, the Australian government’s Clean Energy Financing Company (CEFC) invested A$10 million — adding to an initial funding injection of A$750,000, with further investment coming from the investment arm of Danish wind turbine manufacturer Vestas, Vestas Usaha; UK clean technology investor Kiko Ventures; IP Group Australian intellectual property commercialization company; Aussie pension fund Hostplus and investment arm of Australian steelmaker BlueScope, BlueScopeX.

“After assessing a number of electrolyzer technologies in my 20 years at cleantech, Hysata technology stands out as a real breakthrough,” said Kiko Ventures co-founder Robert Trezona.

“The company has redefined the core cell architecture for alkaline electrolysis, producing practical and scalable solutions with game-changing efficiencies. Hysata has the potential to become a globally significant company in the hydrogen economy and we look forward to supporting its growth, especially here in Europe.”

That view was echoed by CEFC boss Ian Learmouth.

“CEFC is proud to continue our support for Hysata, which will become a major player in the global electrolyzer industry,” he said.

Hysata CEO Paul Barrett added: “Over the past 12-18 months, Hysata has interacted with dozens of key customers globally. The efficiency and simplicity of our system’s impact on the economics of a customer’s project really 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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