Australia-based Hysata, which is commercializing capillary-fed electrolysis technology developed at the University of Wollongong (earlier post) has closed its oversubscribed Series A funding round of $42.5 million AUD (US$30 million). Virescent Ventures led the funding round on behalf of the Clean Energy Finance Corporation (CEFC) (Aus), with participation from Kiko Ventures (UK), IP Group Australia, Vestas Ventures (Denmark), Hostplus (Aus) and BlueScope (via its ventures arm BlueScopeX TM) (Aus).
The Hysata electrolyzer supplies water to the hydrogen- and oxygen-evolving electrodes via capillary-induced transport along a porous inner-electrode separator.
Inspired by the historic evolution of water electrolysis cell architectures culminating in the direct production of one of the gases, the Capillary-Fed Electrolysis cell directly produces both gases. Liquid electrolyte is continuously drawn up the separator by a capillary effect, from a reservoir at the bottom of the cell. The porous, hydrophilic separator sustains the flow rate required for water electrolysis. Hodges et al.
The Hysata electrolyzer operates at 95% system efficiency (41.5 kWh/kg), delivering a giant leap in performance and cost over incumbent technologies, which typically operate at 75% or less. This high efficiency, coupled with the simple approach to mass manufacturing and low supply chain risk puts the company on a path to delivering the world’s lowest cost green hydrogen.
Funding from the Series A round will be used to grow the Hysata team and develop a pilot manufacturing facility.
The CEFC invested $10 million into the Series A funding round, building on its initial $750,000 investment in the early commercial development of Hysata’s research. CEFC CEO Ian Learmonth said that backing a company like Hysata and its cutting-edge electrolyzer technology is vital in helping to grow Australia’s clean technology ecosystem.
Hodges, A., Hoang, A.L., Tsekouras, G. et al. (2022) “A high-performance capillary-fed electrolysis cell promises more cost-competitive renewable hydrogen.” Nat Commun 13, 1304 doi: 10.1038/s41467-022-28953-x