FOR
RELEASE ON
|
09 May 2024
|
IP Group
plc - Portfolio company Hysata completes US$111m series B funding
round
IP Group plc (LSE: IPO) ("IP Group"
or "the Group"), which invests in breakthrough science and
innovation companies with the potential to create a better future
for all, is pleased to note that Australian portfolio company
Hysata Pty Ltd ("Hysata" or "the Company") has now completed its
US$111m (£91m) Series B funding round.
Hysata, which is developing
electrolysers to produce green hydrogen at scale with both higher
energy efficiency and lower cost, will use the funding to advance
product development and expand production capacity at its
manufacturing facility in Wollongong, New South Wales, Australia as
it focuses on reaching gigawatt scale manufacturing.
As previously announced on 22
December 2023, IP Group invested a total of
US$15m (£12m) from its balance sheet into the funding round, as
well as US$18m (£14m) from its managed private funds*.
Following completion, IP Group has an undiluted beneficial holding
of 37.0% in Hysata, valued at £79m.
bp Ventures and Templewater led the
funding round in the Company, which was supported by IP Group
alongside other existing investors, including Clean Energy Finance
Corporation, Hostplus and Vestas Ventures. Hysata also welcomed new
investors POSCO, Shinhan Bank, IMM Investment Group, Oman
Investment Authority, Twin Towers Ventures and
TelstraSuper.
Greg Smith, Chief Executive Officer
of IP Group, said: "We're delighted to see such continued strong
support for Hysata and today's announcement of major new strategic
and financial investors strengthens Hysata's leadership position.
We have supported Hysata since before inception combining our local
presence with expertise from our leading cleantech investment
platform, Kiko Ventures. It's a great example of what can be
achieved by combining world-class research with global markets,
partners and capital to build truly world-leading technology
companies."
*Includes funds managed/advised on
behalf of Hostplus &
TelstraSuper
For
more information, please contact:
IP Group
plc
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www.ipgroupplc.com
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Liz Vaughan-Adams, Communications
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+44 (0) 20 7444 0062/+44 (0) 7967
312125
|
Portland
|
Alex Donaldson
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+44 (0) 7516 729702
|
Notes for editors
About IP Group
IP Group accelerates the impact of science for a better
future. As the most
active UK
based, early stage science
investor, we
develop and support some of
the world's most exciting businesses in deeptech, life sciences and cleantech (led by
Kiko Ventures). Through Parkwalk, the UK's
largest growth EIS fund manager, we also back world-changing
innovation emerging in leading universities and research
institutions. Our
specialist investment team combines sector expertise with an
international approach. Together we have a strong track record of
success, having backed high-profile companies including Oxford
Nanopore Technologies plc, First Light Fusion, Hysata, and Oxa. IP
Group is listed on the Main Market of the London Stock Exchange
under the code IPO. For more
information, please visit our website at www.ipgroupplc.com.
About Hysata
Hysata is an Australian electrolyser
company headquartered in Wollongong that is developing a completely
new type of electrolyser, featuring one of the world's most
efficient electrolysis cell coupled with a simplified balance of
plant. Electricity makes up most of the cost of green hydrogen and
therefore, a high-efficiency electrolyser will deliver lower cost
hydrogen.
Hysata has deep expertise across the
electrolyser and manufacturing industries. The company has
attracted world-class talent from companies including Apple, Tesla,
BHP, Orsted and McKinsey. Currently sitting at approximately 75
staff, Hysata aims to grow to more than 200 employees over the next
couple of years, expanding its footprint across multiple
continents.
Backed by leading global investors,
Hysata is moving rapidly towards manufacturing at the
multi-gigawatt scale to help reduce emissions and reach net zero by
2050. For more information visit www.hysata.com
ENDS