Norwegian startup Hystar has announced plans to construct a fully automated 4GW electrolyser factory on the outskirts of Oslo, scheduled for completion in 2026.
The company already operates a small research and production facility at the site, which has 50MW of electrolyser capacity, with first deliveries of actual green hydrogen expected later this year.
Hystar also said it would establish a new headquarters in North America next year, with plans for a “multi-GW factory” by 2027.
Founded just two years ago, the startup makes polymer electrolyte membrane (PEM) electrolysers designed for large-scale green hydrogen production.
PEM electrolysers produce green hydrogen by splitting water with the use of renewable energy, resulting in a clean, alternative fuel for hard-to-abate sectors like steelmaking and transportation. Hystar says its technology will use 10% less energy compared to currently available models and is easy to scale up.
“Our Høvik GW factory demonstrates our commitment to rapidly expanding our European operations and meeting the strong demand for our technology across Europe,” said CEO Fredrik Mowill.
“As we continue to scale up our operations, we are now looking at opportunities beyond Europe – the North American market has created a highly favourable environment for companies like ours to thrive in,” he added.
The “favourable environment” Mowill is referring to is the support on offer for hydrogen development under President Biden’s Inflation Reduction Act (IRA), funding which far outcompetes anything currently on offer for budding hydrogen startups in Europe.
Hystar has raised a total of €30mn, all private equity, with the latest Series B round attracting the likes of Mitsubishi and Nippon Steel Trading.
According to the IEA’s Global Hydrogen Review, released last week, rising costs and a lack of government support are significant barriers to the widespread commercialisation of green hydrogen.
Nevertheless, Hystar has ambitious plans for the coming years. In addition to the 4GW plant, it also has several orders to deliver smaller electrolysers for Norwegian companies Equinor, Yara Clean Ammonia, and Gassco.