The funding complements a €26 million grant from the EU Innovation Fund, which will facilitate the development of a fully automated production line with an annual capacity of 1.5 GW, set to begin operations in 2027. Hystar plans to increase this capacity to 4.5 GW by 2031, strengthening its role in advancing green hydrogen technology.
Hystar’s electrolyzers feature membranes, based on fuel cell technology, that are 90% thinner than conventional alternatives, enhancing energy efficiency and enabling cost-effective mass production. The company highlighted that this innovation reduces the overall cost of green hydrogen, supporting sustainable energy solutions.
Fredrik Mowill, CEO of Hystar, stated: “Since our last funding round, the Hystar team has successfully manufactured and deployed the first commercial electrolyser units and achieved significant traction in the market. The completion of our funding round provides the required capital to execute our growth plan and build upon recent market wins. We are pleased to welcome our new shareholders and appreciate the strong participation from our existing investors in the funding round. We look forward to working with our investors to grow the business going forward.”
The combined financial support from the Series C round and the EU grant will drive Hystar’s growth strategy, enabling large-scale deployment of its technology. This effort aligns with global goals to transition to cleaner energy sources, positioning Hystar as a key contributor to the hydrogen economy.
