Hystar AS, a Norway based green hydrogen technology company, has concluded its Series C funding round, raising over $36 million to advance its commercialisation efforts. The round witnessed participation from both new and existing investors. New investors were Nysnø Climate Investments, Orlen VC, MOL Switch, Stenshagen Invest, and Kinetics Technologies.
The latest funding builds on a €26 million grant awarded to Hystar in late 2024 by the European Union’s Innovation Fund. These grant proceeds will contribute to the establishment of Hystar’s fully automated gigawatt-scale electrolyser manufacturing facility. The plant, slated to become operational by 2027, will initially have an annual production capacity of 1.5 GW, with plans to scale up to 4.5 GW by 2031.
The combined capital from the Series C round and EU grants will enable Hystar to accelerate its scale-up strategy and support the broader energy transition. The company aims to facilitate large-scale deployment of its proprietary green hydrogen solutions, which are positioned to play a critical role in decarbonising hard-to-abate sectors.
