Nysnø invests in Hystar AS to accelerate global growth of green hydrogen

Stavanger, 12.05.2025: Nysnø is investing in Hystar AS, a leading Norwegian high-tech hydrogen company. The investment will enable Hystar to execute its growth strategy and contribute to the energy transition, through large scale deployment of its highly efficient green hydrogen technology.

Energy efficient hydrogen technology
Hystar’s electrolysis technology is based on patented PEM systems, developed with a strong focus on high energy efficiency and safety. The technology enables cost-effective mass manufacturing of electrolysers, driving down the levelized cost of green hydrogen. This contributes to replacing the existing grey hydrogen market, which currently accounts for approximately 100 Mt.

Hystar is well-positioned for continued growth. The capital will support the installation and operation of the company’s fully automated gigawatt-scale production line. The new facility, planned to be operational in 2027 at Høvik, will have an annual capacity of 1.5 GW.

- We are impressed by Hystar’s unique technology and ability to think big. As a Norwegian manufacturing company with a strong international mindset, Hystar is well-positioned to become a leading exporter and player in the global, green hydrogen market, says Fredrik Bryne, Senior Investment Manager at Nysnø Climate Investments.

Strong International Investor Consortium
Nysnø is investing alongside Orlen VC, MOL Switch, Stenshagen Invest, Kinetics Technologies, AP Ventures, Firda, Nippon Steel Trading, Finindus and Sintef Ventures. This consortium provides strong industrial, financial, and technological grounding, along with a broad international network.

- Since our last funding round, the Hystar team has successfully manufactured and deployed the first commercial electrolyser units and achieved significant traction in the market. The completion of our funding round provides the required capital to execute our growth plan and build upon recent market wins. We are pleased to welcome our new shareholders and appreciate the strong participation from our existing investors in the funding round. We look forward to working with our investors to grow the business going forwards, says Fredrik Mowill, CEO of Hystar

About Hystar
Hystar develops energy-efficient and safe PEM electrolysers for large-scale green hydrogen production and plays a key role in the transition to a sustainable energy system. For more information, visit www.hystar.com

Contact:
Nysnø Climate Investments: Fredrik Bryne, Senior Investment Manager: fredrik.bryne@nysnoinvest.no
Hystar AS: Donata Marciulionyte – donata.marciulionyte@hystar.com