AP Ventures

Assembly Line

Hystar raises USD 26mn to scale up to full commercial operations

๐Ÿ“… Date:

๐Ÿ”– Topics: Funding Event

๐Ÿข Organizations: Hystar, AP Ventures, Mitsubishi

Hystar AS, the Norwegian high-tech hydrogen company, today announces a Series B funding round of USD 26mn to rapidly scale-up to full commercial operations with an automated GW-capacity production line by 2025. The injection of capital, raised through equity, will also be used to fuel Oslo-headquartered Hystarโ€™s growth, expansion into new markets, and ability to deliver on larger (100 MW and beyond) projects.

The round was co-led by AP Ventures and Mitsubishi Corporation. Additional investors in the round included Finindus, Nippon Steel Trading, Hillhouse Investment and Trustbridge Partners, alongside existing investors SINTEF Ventures and Firda.

Read more at Hystar Blog