According to The Australian Financial Review, Hysata, an Australian hydrogen technology company, has raised more than $40 million to fund its expansion after revolutionising the development of the fuel source increasingly touted as an alternative to fossil fuels.
Hysata’s process is about 20 per cent more efficient than traditional electrolysis, and the breakthrough is critical to achieving commercialisation, the threshold for which is thought to be a production cost of $2 per kilogram or less. The breakthrough has fuelled excitment in the sector. Hysata said its $42.5 million capital raising was oversubscribed, having attracted local and foreign heavyweights, including the Clean Energy Finance Corporation, UK-listed IP Group Australia, Vestas Ventures from Denmark, local super fund Hostplus and steelmaker BlueScope. https://www.afr.com/companies/energy/hysata-raises-42m-after-hydrogen-breakthrough-20220801-p5b6aq
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