1 week Ago By Connor Pearce
Port Kembla electrolyser manufacturer Hysata has secured $172 million in investment and plans to rapidly scale up its Illawarra-based workforce. Subscribe now for unlimited access . $ 0 / (min cost $ 0 ) Login or signup to continue reading The company, which was spun out of research from the University of Wollongong, has completed the largest clean tech Series B fundraising round in Australia's history, attracting local and international backers including BlueScope's investment fund BlueScopeX.
CEO Paul Barrett said the capital would now go into expanding the company's Illawarra-based workforce as the company targets full commercialisation from 2025. "We have 75 people at Hysata today, and we have about another 25 job vacancies immediately, and we're going to be scaling that up over time," he said. Mostly on the hunt for engineers, Mr Barrett said there were opportunities for UOW graduates and early career staff, right through to those at the top of their game worldwide.
"We want the world's brightest minds in this region to help us on our mission," he said. "We're planning for Hysata to be an era-defining company and a major employer in the region in this decade." Hysata produces electrolysers which are 95 per cent efficient, 20 per cent ahead of existing technology, that are used to split hydrogen atoms from water - H2O - which can then be used as a fuel source for hard-to-abate sectors such as manufacturing and aviation and shipping fuels.
When run on renewable electricity.
