Hystar

Hystar develops proton exchange membrane (PEM) electrolyzer technology for green hydrogen production, claiming to manufacture the world's most efficient PEM electrolysers with a guaranteed system efficiency of 51.1 kWh/kg at 100% load (47.5 kWh/kg on stack level). The company's patented technology combines knowledge from the fuel cell industry with electrolyzer technology through three key innovations: a thin membrane for efficient operations and higher hydrogen production rates, anode air feed that circulates air to dilute hydrogen crossover and increase safety, and cathode water feed that frees up space on the anode side enabling one-phase flow. Hystar offers three solution tiers: Eos (best-in-class efficiency at 47.5 kWh/kg with patented safety design and engineering support for integration), Vega (plug-and-play containerized solution scalable from 5MW to 1000 Nm3/h with up to 45 barg H2 delivery pressure), and Orion (large-scale modular solution with flexible arrangement and best-in-class total cost of ownership). The company provides an interactive efficiency calculator showing estimated annual savings based on electrolyzer size, operational hours, and electricity price. Hystar differentiates itself through its fuel cell-derived technology achieving superior efficiency and safety compared to conventional electrolysers, its modular product portfolio addressing projects from small-scale to GW-scale deployment, and its proven operational track record including over 3,800 operational hours demonstrated at Equinor's K-lab pilot test facility at the Karsto gas processing plant in Norway. Founded in 2020 and headquartered in Hovik, Norway, Hystar has raised approximately $67.9 million in a Series C round backed by EU Innovation Fund, AP Ventures, SINTEF, Mitsubishi Corporation, Finindus, Nippon Steel, Hillhouse, Trustbridge Partners, Firda, and ORLEN.