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.
The two largest components of producing hydrogen are electrolysers and the cost of energy. To produce green hydrogen, which would have virtually no emissions, rapid and significant increases in renewable energy generation will be required. Once that is achieved, Hysata said its electrolysers will ready for commercial manufacturing in 2025 and Mr Barrett said interest from customers is high.For companies keen to cement their future amid the global energy transition, the opportunity to invest at such a nascent stage of the technology’s development is particularly attractive.