Hysata: Redefining the economics of green hydrogen

*Published in our 2025 Meaningful Impact Report.

Hysata is manufacturing electrolysers with the world’s highest efficiency, which will enable the lowest Levelised Cost of Hydrogen (LCOH) and save green hydrogen customers billions of dollars. 

The company raised Australia’s largest ever CleanTech Series B in 2024.

IP Group's initial investment was in 2021. The company was spun out of the University of Wollongong.

Customers in hard-to-abate sectors where the economic production of green hydrogen unlocks decarbonisation.

Green hydrogen is an essential component of the energy transition in hard-to-abate sectors. It is expected to contribute 20% of the total abatement required by 2050 for Net Zero.

Hysata’s novel electrolysers deliver world-leading 95% system efficiency, which provides the lowest levelized cost of hydrogen (LCOH) and fundamentally improves the economics of green hydrogen production.

Economic production of green hydrogen is central to enabling sectors such as steelmaking, chemical, high-grade heat and heavy transport to decarbonise.

The simplified balance of plant enables rapid installation and lower waste heat.

Modular and inherently-scalable manufacturing enables rapid scaling to meet customer requirements and accelerate decarbonisation.

IP Group was involved from the very beginning, developing the initial business case alongside the team from the University of Wollongong, before helping form the company.

Paul Barrett, now CEO of Hysata, was originally the investment lead from within IP Group and was interim CEO from company inception prior to transitioning full-time upon the Series A funding round.

IP Group led the Seed round and have been the largest investor across the Series A and Series B rounds.

IP Group has supported the growth of the company through input to strategy, introducing new investors and identifying critical new hires.

IP Group holds one board seat and one observer seat.