Clean Energy Finance Corporation (CEFC) will be investing $750,000 into Hysata for its first hydrogen-related development.
Hysata, a new company created to commercialise innovative electrolyser production technology, has raised $5 million to accelerate its development, led by global technology investor IP Group, along with the CEFC.
The investment is made on behalf of the Australian Government through its specialist Clean Energy Innovation Fund and will go towards the early commercial development.
CEFC executive director Ben Gust said 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.
“Hydrogen offers significant emissions abatement opportunities across the economy, both here in Australia and globally,” he said.
“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.”
The Hysata technology was developed by a team of researchers at the University of Wollongong led by chemical catalysis and characterisation expert Professor Gerry Swiegers.
Paul Barrett, head of physical sciences at IP Group Australia and Hysata Interim CEO, added that Hysata represents a once in a lifetime opportunity to reshape an industry.
“I’m delighted to be working with Professor Swiegers and the team at the University of Wollongong to bring this technology to market. This will have an impact both economically and environmentally on our path to net zero,” he said.
Professor Swiegers has founded six spin-off companies and licensed out three new technologies in the past 15 years.
His extensive work in bridging the academia-to-industry gap and commercialisation of research has attracted an estimated $100 million in private investment and numerous awards, including two DuPont Innovation awards for taking ideas to market.
Hysata is based at the University of Wollongong Australian Institute for Innovative Materials, a purpose-built facility created to help transform multi-functional materials research into commercial reality.
The company has strong laboratory, academic and commercialisation experience and is actively investigating potential applications for its breakthrough technology.