Hystar, a Norwegian company specializing in efficient PEM electrolysis technology for green hydrogen production, has secured over NOK 50 million in funding led by AP Ventures and SINTEF Ventures to accelerate its growth and development.

Target Information

Hystar, based in Oslo, Norway, is a cutting-edge technology company specializing in PEM electrolysis to produce green hydrogen. The company has successfully raised over NOK 50 million to enhance its novel electrolyser technology, which operates with remarkable efficiency, consuming less energy than existing solutions. Hystar's innovative approach promises a significant increase in hydrogen production output while substantially reducing production costs, positioning the company well within the rapidly expanding green hydrogen market.

The primary focus for Hystar in the near term is to refine its Hystar stack and launch pilot units for testing with selected early customers. The capital raised will facilitate the construction and testing of electrolyser packages and expand the Hystar workforce, ensuring the company achieves its ambitious development milestones.

Industry Overview in Norway

The green hydrogen industry in Norway is witnessing robust growth, driven by increasing demand for sustainable energy solutions and government support for reducing carbon emissions. As one of the world's leaders in renewable energy generation, primarily through hydropowe