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Oman’s IDO Investments Participates in Record-Breaking Series B Funding for Australian Green Tech Firm Hysata

Oman’s IDO Investments, a subsidiary of the Oman Investment Authority (OIA), has made a strategic investment in Hysata, an Australian electrolyzer manufacturer, as part of its latest Series B funding round. This round, which raised a total of USD 111 million, is the largest Series B investment in Australia’s cleantech sector to date, with the funds earmarked for boosting Hysata’s production capabilities and advancing its technology for large-scale electrolyzer manufacturing aimed at decarbonizing heavy industries.

The investment round saw significant participation from international players including BP Ventures and Templewate, a Hong Kong-based alternative asset management firm, each contributing USD 10 million. Additional support came from previous investors like IP Group Australia, Kiko Ventures, Virescent Ventures, Hostplus, Vestas Ventures, and BlueScopeX. Other key strategic and financial contributors included POSCO Holdings, POSCO E&C, IMM Investment Hong Kong, Shinhan Financial Group, Twin Towers Ventures, and TelstraSuper.

Hysata’s innovative technology utilizes capillary action to minimize energy losses typically caused by bubble formation during electrolysis, a process reported by Bloomberg. This approach is expected to enhance the efficiency of green hydrogen production.

The significance of this development lies in its potential impact on the hydrogen industry. According to BloombergNEF, green hydrogen production is projected to increase dramatically from 400,000 metric tons in the current year to 9.6 million metric tons by 2030. Since the conventional hydrogen production process predominantly relies on fossil fuels and emits substantial CO2, Hysata’s cleaner technology could play a crucial role in reducing environmental impact. By 2025, Hysata aims to commercialize this technology, significantly lowering the costs associated with producing hydrogen without emissions.

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