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- Hysata
Hysata Funding, Investors & Competitors
Hysata has raised $140M across 2 funding rounds, most recently a $111M Series B in May 2024.
Last Hysata funding round
$111M
Series B · May 2024
Cumulative funding Hysata raised
$140M
across 2 funding rounds
Key investors in Hysata
IP Group
BP Ventures
Hostplus
Virescent Ventures
Kiko Ventures
IP Group Australia
BlueScope Steel
Templewater
About Hysata
Hysata is a Wollongong-based developer of advanced hydrogen electrolyzers derived from University of Wollongong research. The company's capillary-fed electrolyzer technology achieves high efficiency levels to lower green hydrogen production costs below two dollars per kilogram. Operating from Australia, Hysata partners with the ARC Centre of Excellence for Electromaterials Science to accelerate net-zero transitions by enabling scalable, low-cost hydrogen generation for industrial applications worldwide.
Founded
2021
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Hysata Funding History
Hysata has raised a total of $140M across 2 funding rounds.
Hysata's first fundraising round was a $29M Series A in August 2022. The most recent completed round was a $111M Series B in May 2024.
Hysata funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| May 2024 | Series B | BP Ventures (lead); Templewater (lead) | $111M | Hysata is an Australian green hydrogen electrolyser manufacturer developing a high-efficiency, modular alkaline capillary-fed electrolysis system that uses 41.5 kWh per kg of hydrogen, making it simpler, cheaper, and more energy-efficient than competitors. The company, spun out from the University of Wollongong, opened an 8,500 sqm production facility in Port Kembla and aims for gigawatt-scale manufacturing and exports by 2025 to tap into the green hydrogen market for decarbonizing industries like steel, chemicals, and heavy transport. In May 2024, Hysata closed a Series B funding round raising US$111.3 million (A$172 million), co-led by bp Ventures and Templewater each contributing US$10 million. Existing investors including IP Group Australia, Kiko Ventures, Virescent Ventures (for Clean Energy Finance Corporation), Hostplus, Vestas Ventures, and BlueScopeX participated strongly, alongside new investors such as POSCO Holdings, POSCO E&C, IMM Investment Hong Kong, Shinhan Financial Group, Twin Towers Ventures, Oman Investment Authority’s IDO, and TelstraSuper. Following the round, IP Group held an undiluted 37.0% stake valued at £79 million. The funds will expand Hysata's Wollongong manufacturing facility, strengthen the team, advance technology development, and accelerate scale-up toward commercial availability. This round, billed as Australia's largest Series B for a cleantech firm, follows a US$42.5 million Series A in 2022 led by Virescent Ventures. Investors highlighted Hysata's breakthrough efficiency in addressing green hydrogen's energy and cost challenges, supporting global decarbonization efforts. Hysata's traction is evidenced by the world-class investor syndicate and prior Series A, positioning it to drive down green hydrogen production costs in a potential trillion-dollar market. |
| Aug 2022 | Series A | Virescent Ventures (lead); BlueScope Steel; IP Group; Vestas Ventures; Kiko Ventures; Hostplus; IP Group Australia | $29M | - |
Who has invested in Hysata?
9 investors have backed Hysata across its funding rounds, including IP Group, BP Ventures, Hostplus, Virescent Ventures, Kiko Ventures and IP Group Australia.
Lead investors include BP Ventures, Templewater and Virescent Ventures.
Hysata Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Participant | Aug 2022 | ||
| 1 | Participant | Aug 2022 | ||
| 1 | Participant | Aug 2022 | ||
| 1 | Participant | Aug 2022 | ||
| 1 | Participant | Aug 2022 | ||
| 1 | Lead | May 2024 | ||
| 1 | Lead | Aug 2022 | ||
This data is available for Pro users. Sign up to see all 9 Hysata investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialHysata Competitors
Hysata competitors include listed companies like First Solar, Jinko Solar, Enphase Energy and CSI Solar, and private ones like Radiant and 1Komma5°.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $5.2B | $2.1B | $22B | 4.0x | ||
| Publicly listed | $9.8B | $35M | $5.7B | 0.9x | ||
| Publicly listed | $1.5B | $227M | $4.8B | 3.5x | ||
| Publicly listed | $6B | $801M | $4.4B | 1.0x | ||
| Private | - | - | $1.8B | - | ||
| Private | $598M | - | $1.4B | - |
Hysata Public Comps
Hysata is still privately-owned, but its public comps include GE Vernova, Siemens Energy, Bloom Energy, SLB, Baker Hughes, Sandvik, Doosan Enerbility, Vestas, Tenaris and Halliburton.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $38B | $3.2B | 6.2x | 5.4x | 73.5x | 43.5x | |||
| $45B | $4.5B | 2.7x | 2.4x | 27.3x | 16.1x | |||
| $2B | ($14M) | 40.9x | 23.7x | (5906.9x) | 112.5x | |||
| $36B | $7B | 2.4x | 2.4x | 12.5x | 10.6x | |||
| $28B | $4.3B | 2.0x | 2.0x | 13.3x | 11.3x | |||
| $12B | $2.9B | 4.2x | 3.6x | 18.2x | 14.3x | |||
| $12B | $818M | 3.7x | 3.6x | 56.6x | 40.9x | |||
| $22B | $2.6B | 1.4x | 1.3x | 11.9x | 10.1x | |||
This data is available for Pro users. Sign up to see all Hysata competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Hysata
| When was Hysata founded? | Hysata was founded in 2021. |
| Where is Hysata headquartered? | Hysata is headquartered in Wollongong, Australia. |
| Is Hysata publicly listed? | No, Hysata is a private, VC-backed company. |
| How much funding has Hysata raised? | Hysata has raised $140M across 2 funding rounds. |
| What was Hysata's last funding round? | Hysata's last funding round was a $111M Series B in May 2024, led by BP Ventures and Templewater. |
| Who are Hysata's investors? | Hysata's investors include BlueScope Steel, IP Group, Vestas Ventures, Kiko Ventures, Hostplus, BP Ventures, Virescent Ventures, IP Group Australia and Templewater. |
| Which companies are comparable to Hysata? | Companies comparable to Hysata include First Solar, Jinko Solar, Enphase Energy, CSI Solar, Radiant and 1Komma5°. |
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