Hong Kong’s Templewater, BP unit lead US$111 million fundraising for Australian green hydrogen start-up Hysata
- Templewater and BP Ventures to invest US$10 million each to help Hysata scale up its facilities in Wollongong, New South Wales
- Hong Kong private equity firm, which controls the city’s largest public bus operations, aims to have zero-emission fleet by 2045
The investment manager has agreed to invest US$10 million in Hysata, according to a statement on Thursday. BP Ventures, the low-carbon energy investment arm of the London-based oil supermajor, will put in the same amount, it added.
They co-led the latest Series B funding round to help Hysata scale up its 8,500 square-metre production facility and technology development. The Wollongong, New South Wales-based start-up aims to achieve gigawatt-scale manufacturing of green hydrogen equipment.
“We see hydrogen as a key solution for implementing decarbonisation of hard-to-abate industries such as steel, chemicals and heavy transport,” Alfred Wong, a partner overseeing impact investing at Templewater, said in an interview. “Hysata’s technology can significantly reduce the cost of green hydrogen production.”
