Equinor Ventures invests in Hysun to Support the Energy Transition
Equinor Ventures is pleased to announce our investment in Hysun, a Spain-based company developing solar to hydrogen technology. This total transaction of €3 million equity funding marks the entry of Equinor Ventures, committed to long-term value creation in a low-carbon future—as a new strategic partner.
We are joining the funding round alongside a strong syndicate of investors, including the global cleantech leader InnoEnergy, and new partner Axon Partners Group through its NTV fund, which is supported by Ventures EPM of the multilatina utility EPM. Axon brings extensive experience in disruptive technologies, which complements our focus on energy transition innovation. We are also excited to support the founding partners, NANOGAP and Tewer Engineering, as they continue to drive the company forward.
Hysun's thermal photocatalysis uses a nanomaterial catalyst activated by concentrated sunlight to split water into hydrogen and oxygen, bypassing the need for electrolyzers and electricity. The process involves a two-step cycle with a metal oxide compound reactor. According to the European Hydrogen Observatory, producing green hydrogen via electrolysis currently costs between €6 and €8/kg, compared to €1–2/kg for grey hydrogen. Hysun’s new technology, which produces 100% renewable hydrogen without using electricity, aims to position green hydrogen within a competitive cost range that will accelerate its industrial adoption.
The investment aligns with Equinor’s green hydrogen strategy, supported by units responsible for green hydrogen and low carbon commodities, offering potential for competitive hydrogen production and feedstock for synthetic fuels. Hysun targets sun-rich regions in Europe, the U.S., North Africa, Brazil, and Australia, with plans for modular plants and early commercial projects supported by public funding, aiming for market entry in the early 2030s.
Børre Stokholm, Investment Director at Equinor Ventures, adds:
“We are pleased to join Hysun in the validation and testing of its technology. If successful, this could be a game-changer for hydrogen”.