Oman’s IDO Investments Backs Australian Electrolyser Pioneer Hysata in $111.3M Funding Round

Oman’s IDO Investments Backs Australian Electrolyser Pioneer Hysata in $111.3M Funding Round

– IDO Investments, Oman’s venture capital arm, contributes to Hysata’s Series B funding round, totaling $111.3 million.

– Hysata, an Australian electrolyser innovator, aims to revolutionize green hydrogen production with its high-efficiency technology.

– The funding injection will support Hysata’s expansion plans, including scaling up manufacturing and advancing gigawatt-scale electrolyser production.

IDO Investments, the venture capital arm of Oman Investment Authority (OIA), joins a consortium of global strategic and financial investors in the latest funding round by Australian electrolyser innovator Hysata.

Hysata’s groundbreaking technology promises high-efficiency electrolysis for scalable green hydrogen production, positioning it as a crucial player in the global energy transition.

The $111.3 million Series B funding round, led by BP Ventures and Templewater, saw participation from major investors such as IP Group Australia, Kiko Ventures, and Virescent Ventures.

Noteworthy strategic investors include Oman Investment Authority’s VC arm IDO, POSCO Holdings, and TelstraSuper.

Hysata‘s innovative capillary-fed alkaline electrolyser technology, known for its energy efficiency and cost competitiveness, attracted praise from industry analysts and investors alike.

Al Muthar al Kharousi, Senior Investment Analyst at OIA, emphasized Oman’s strategic alignment with green hydrogen goals and expressed optimism about leveraging Hysata’s expertise for mutual benefit.

The funding injection will fuel Hysata’s expansion plans, focusing on scaling up manufacturing capabilities in Wollongong, New South Wales, and advancing gigawatt-scale electrolyser production.

CEO Paul Barrett underlines Hysata’s commitment to driving down the levelized cost of hydrogen, facilitating decarbonization across industries like steel and heavy transport.

Oman Investment Authority’s investment underscores its commitment to supporting Oman’s transition to a green hydrogen-powered future. In line with this vision, OIA has initiated partnerships with industry giants like Siemens Energy and invested in US-based Electric Hydrogen, solidifying its role in shaping Oman’s hydrogen ecosystem.

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