Wind turbine maker Vestas’ venture capital arm has invested an undisclosed amount in Australian startup Hysata, which is developing an ultra-efficient electrolyser for green hydrogen production.
Vestas Ventures was one of several investors in a A$42.5 million (US$29.5 million) funding round for Hysata. It will take an undisclosed minority stake in Hysata.
The Australian firm plans to use the funding to grow its team and develop a pilot manufacturing facility.
It claims its electrolyser operates at 95% system efficiency – ahead of existing technologies which typically operate at 75% or less – and is suitable for mass manufacturing.
Vestas set up Vestas Ventures in November 2020 to invest in early-stage start-ups within sustainable energy around the world. It has since invested in wooden wind turbine maker Modvion and crane technology firm S&L Access Systems.