Hydrogen play Hysata's first investor in for the long haul after mammoth raise
IP Group was the first investor to support Hysata's high-efficiency electrolyser technology, which can now be commercialised after the company completed a $172 million Series B funding round.
Mike Molinari was quick to recognise the potential of Hysata’s hydrogen electrolyser technology, back when it was being demonstrated in a University of Wollongong lab.
The managing director of IP Group in Australia, which invests in early-stage deep tech companies, said he has only seen one or two technologies in a decade coming out of universities which have this much promise.
“When we saw the technology coming out of the lab we immediately saw that it was an immediate step change,” Molinari told Capital Brief.
Shortly after Hysata was formed to commercialise the technology in 2021, IP Group was the sole pre-seed investor. It then participated in a Series A fundraising in August 2022, which provided the business with a further $40 million.
