REG - IP Group PLC - Hysata completes US$111m series B funding round

IPAnnouncement

09/05/2024 07:00

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RNS Number : 6994N  IP Group PLC  09 May 2024

 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                       www.ipgroupplc.com
 Liz Vaughan-Adams, Communications  +44 (0) 20 7444 0062/+44 (0) 7967 312125
 Portland
 Alex Donaldson                     +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 (http://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
(http://www.hysata.com)

 

ENDS

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