IP Group invests in Australian electrolyser company Hysata
24 Jun 2021
UK-headquartered IP Group and the Clean Energy Finance Corporation (CEFC)
have invested in Hysata, a new Australian company spun out of the
University of Wollongong.
Hysata is developing a hydrogen electrolyser that has the potential to
bring the Australian Government's $2/kg target for green hydrogen within
reach. Electrolysers use electricity to split water into hydrogen and
oxygen. It is a key technology for producing green hydrogen.
The Hysata technology has been proven at lab-scale. The company, which has
strong scientific, engineering and commercialisation experience, is now
focused on developing and commercialising a full-scale system.
We have been looking globally for new technology
that can unlock the trillion-dollar opportunity in hydrogen,' says Michael
Molinari, IP Group Australia Managing Director.
'The Hysata technology is truly world-leading, and we're very excited to
help the team in their mission to make green hydrogen a reality for
Australia and the world.
'This company is a great example of the tremendous economic opportunities
that can be unlocked by the research being done at our universities.'
IP Group entered Australia in 2017. Its Australian team works in close
partnership with Australia's Group of 8 universities to identify
ground-breaking technologies, rooted in hard science, which have the most
promising commercial potential.
First hydrogen-related investment by the CEFC
Hysata is the CEFC's first hydrogen-related commitment. It was made through
the Clean Energy Innovation Fund, created to invest $200 million in
early-stage clean technology companies.
Hysata's advanced electrolyser technology
has the potential to significantly improve the efficiency of hydrogen
production, an important step in making it a more economic source of clean
energy,' says Ben Gust, Clean Energy Innovation Fund Executive Director.
'Australian researchers are known for their innovative solutions to big
challenges. Bringing down the cost of hydrogen production will accelerate
the development of this exciting industry, similar to the pathway we have
seen with large-scale solar, where Australia is now a world leader.'
Leading-edge Australian research
The Hysata technology was developed by researchers at the University of
Wollongong Australian Institute for Innovative Materials. The institute is
a purpose-built facility that focuses on commercialising multi-functional
The research team is led by chemical catalysis and characterisation expert
Professor Gerry Swiegers. Professor Swiegers has founded six spin-off
companies and licensed out three new technologies in the past 15 years. His
work has attracted an estimated $100 million in private investment. He has
also won numerous awards, including two DuPont Innovation awards for taking
ideas to market.
Australia's commitment to hydrogen
Australia is committed to growing an innovative, safe and competitive
hydrogen industry, as set out in its
National Hydrogen Strategy
. The Australian Government has committed A$370 million to advancing
Australia's hydrogen industry since the release of the strategy.
Australia has also released its first Low Emissions Technology Statement. The Statement identifies four priority technology categories:
- Priority low emissions technologies
- Emerging and enabling technologies
- Watching brief technologies
- Mature technologies.
Priority low emissions technologies have high potential to reduce emissions
both domestically and internationally across multiple sectors and
applications. They are aligned with Australia's comparative advantages.
These technologies will be the focus of new public investment.
The Government will strive to remove barriers to the development of these
technologies. The priority low emissions technologies identified in the
Statement include clean hydrogen (and three others).
Investors can refer to HyResource for the
latest information on key hydrogen-related organisations, policies and
projects in Australia.
Find out more about
investing in Australia
benefits and support to stimulate Australia's early stage venture
for more information.