OIA’s VC arm IDO invests in Australian firm Hysata

By Shilpa Annie Joseph, Official Reporter
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IDO invests in Hysata
Rep. Image | Courtesy: Hysata

Oman Investment Authority’s VC arm IDO has become one of the financial investors that have participated in the latest funding round launched by Hysata, the Australian green hydrogen electrolyzer manufacturer.

Hysata has closed the largest Series B in Australian clean tech history, announcing a $111 million investment round with strong backing from existing major strategic and financial global investors.

According to the statement, bp Ventures and Templewater led the investment round in the company, with strong backing from existing major strategic and financial investors IP Group Australia, Kiko Ventures (IP Group plc’s cleantech platform), Virescent Ventures on behalf of Clean Energy Finance Corporation, Hostplus, Vestas Ventures and BlueScopeX.

The company also welcomed new major strategic and financial investors POSCO Holdings, POSCO E&C, IMM Investment Hong Kong, Shinhan Financial Group Co., Twin Towers Ventures, OIA’s VC arm IDO, and TelstraSuper.

Hysata is developing new high-efficiency electrolyzers that aim to produce green hydrogen at scale with higher energy efficiency and lower costs than alternative technologies. The company’s technology combines engineering and science in a unique capillary-fed alkaline electrolyzer that uses less energy to convert water to hydrogen.

Hysata will use the funding to expand production capacity at its iconic beachside manufacturing facility in Wollongong, New South Wales, and further develop its technology as it focuses on reaching gigawatt-scale manufacturing.

Al Muthar al Kharousi, Senior Investment Analyst — Oman Investment Authority, commented that, “This investment plays into Oman’s strategic goals of being a leader in Green Hydrogen and the International Energy Agency (IEA) goals of Net Zero Emissions by 2050. Hysata’s highly efficient alkaline electrolyzers will without a doubt play a big role in helping achieve these targets and looking forward to being part of this journey alongside working on how Oman can best benefit from their expertise within the industry.”

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