Vestas invests in electrolysis startup

An Australian startup claiming 95% electrolysis efficiency attracts investment of AUD 42.5m from several players, including the Danish OEM’s venture unit.

Photo: Hysata

Since Vestas Ventures launched in late 2020, the Danish manufacturer’s investment platform has been scouting for opportunities to fund startups and growth businesses closer to home. Beyond Swedish battery maker Northvolt, the OEM has injected capital into Modvion, making wind turbine towers out of plywood, as well as crane producer S&L Access Systems. Now the group’s venture business is expanding its geographical horizon to the other side of world.

Vestas Ventures is now among a handful of other venture firms to have capitalized Australian electrolysis system manufacturer Hysata with AUD 42.5m (EUR 28.92m) in an A series funding round. The proportion of money coming from the Danish company remains undisclosed.

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