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About Hystar

Company Overview

Name

Hystar

Headquarters

Høvik, Norway

Founded

2020

Size

Approximately 30 employees (source: linkedin.com).

What They Do

Hystar specializes in the development of PEM electrolysers (polymer electrolyte membrane electrolysers) aimed at producing green hydrogen through water electrolysis. The company’s innovative approach involves a patented technology that significantly reduces the thickness of the membrane by up to 90% compared to traditional designs, allowing for a more efficient hydrogen production process. This advancement enables Hystar to produce up to 150% more green hydrogen while consuming less energy, a feat validated by over 5,000 hours of in-house testing (source: hystar.com). Hystar manufactures fuel cell stacks in-house, which are integral to their water electrolysers, and designs complete electrolysis systems that are modular and containerized for large-scale hydrogen production.

Projects & Track Record

Hystar's inaugural customer project, the HyPilot field project, marks a significant step in its commercialization efforts. This project, funded by Enova and in collaboration with partners such as Equinor, Yara Clean Ammonia, and Gassco, involves the delivery of a 1 MW electrolyser scheduled for Q4 2023 at Kårstø, Norway (source: hystar.com). Following this, Hystar secured a contract with Polenergia, Poland's largest private energy company, for a 5 MW electrolyser to be delivered in Q3 2024 for their H2HubNS project in Nowa Sarzyna, Poland. These projects highlight Hystar's growing footprint in the renewable energy sector and its commitment to supporting decarbonization efforts across various industries.

Recent Developments

In recent years, Hystar has made significant strides in expanding its production capacity, having commenced production of electrolyzer stacks with an annual capacity of 50 MW. The company is also in the process of constructing a gigafactory in Høvik, which is expected to automate production and significantly increase capacity, with operations projected to begin by 2026 (source: hystar.com). Additionally, Hystar successfully closed a €24 million Series B funding round in January 2023, which will support its growth initiatives and expansion plans, particularly in North America, where it aims to establish a headquarters and a multi-GW factory by 2026.

Working There

Hystar fosters a company culture that prioritizes quality, safety, and environmental responsibility. Employees describe the work environment as passionate and enthusiastic, with a strong emphasis on ethical conduct and sustainability. The organizational structure includes roles in technical, engineering, and business development, with key positions held by experienced professionals from diverse backgrounds. The primary office is located in Høvik, Norway, and the company plans to initiate hiring for its North American headquarters in 2024, indicating ongoing recruitment efforts to support its expansion (source: hystar.com).

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