About Hystar
Hystar is a company based in Oslo (Norway) founded in 2020. It operates as a Direct-to-Consumer (D2C). Hystar has raised $62 million across 3 funding rounds from investors including ORLEN, Nippon Steel and SINTEF. The company has 36 employees as of December 31, 2023. Hystar offers products and services including PEM Electrolysers and Vega 1000. Hystar operates in a competitive market with competitors including Nel Hydrogen, Orsted, Lhyfe, Sunfire and H3 Dynamics, among others.
- Headquarter Oslo, Norway
- Employees 36 as on 31 Dec, 2023
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Sectors
Energy & Utilities
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Email
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Phone
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Website
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Social
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- Legal Name Hystar As
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Annual Revenue
$2.29 M (USD)16as on Dec 31, 2023
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Net Profit
Not available
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EBITDA
-$315.34 K (USD)-305as on Dec 31, 2023
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Total Equity Funding
$62 M (USD)
in 3 rounds
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Latest Funding Round
$36 M (USD), Series C
May 15, 2025
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Investors
ORLEN
& 9 more
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Employee Count
36
as on Dec 31, 2023
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Products & Services of Hystar
Hystar offers a comprehensive portfolio of products and services, including PEM Electrolysers and Vega 1000.
Efficient PEM electrolysers are produced for green hydrogen.
Containerized 5 MW solutions are offered for scalability.
People of Hystar
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Funding Insights of Hystar
Hystar has successfully raised a total of $62M across 3 strategic funding rounds. The most recent funding activity was a Series C round of $36 million completed in May 2025. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
Investors in Hystar
Hystar has secured backing from 10 investors, including institutional and venture fund investors. Prominent investors backing the company include ORLEN, Nippon Steel and SINTEF.
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AP Ventures is focused on venture capital investments in decarbonisation.
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Finindus is engaged in early stage and growth financing for industrial innovation.
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Global private equity investments are managed with long-term focus.
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Investor details for Hystar
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Investments & Acquisitions by Hystar
Investment portfolio details for Hystar
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Financial Statements - Hystar
Detailed financials for Hystar
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Hystar Comparisons
Peer comparison for Hystar
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Competitors of Hystar
Hystar operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Nel Hydrogen, Orsted, Lhyfe, Sunfire and H3 Dynamics, among others.
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Provider of hydrogen production and storage solutions
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Power generation via bioenergy, thermal, and wind sources is offered.
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Producer and supplier of green hydrogen
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Pressurized alkaline and solid oxide electrolysis products are manufactured.
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Aerial inspection services are delivered using automated drones.
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Solutions for hydrogen generation via electrolysis are provided.
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Detailed competitors of Hystar
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Latest news on Hystar
Complete news archive for Hystar
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Frequently Asked Questions about Hystar
Hystar was founded in 2020 and raised its 1st funding round 3 years after it was founded.
Hystar is headquartered in Oslo, Norway. It is registered at Oslo, Oslo, Norway.
Hystar is a funded company, having raised a total of $62M across 3 funding rounds to date.
As of Dec 31, 2023, the latest employee count at Hystar is 36.
Annual revenue of Hystar is $2.29M as on Dec 31, 2023.
Hystar is engaged in the development and production of highly efficient PEM electrolysers aimed at reducing the cost of green hydrogen. The company operates in the renewable energy sector, specifically targeting green hydrogen solutions. Products include market-leading PEM stacks and containerized 5 MW solutions like Vega 1000, alongside large-scale non-containerized systems. Based in Høvik, Norway, Hystar contributes to building a European hydrogen value chain with locally made technology.
Hystar's top competitors include Lhyfe, Nel Hydrogen and Orsted.
Hystar offers PEM Electrolysers and Vega 1000.
Hystar has 10 investors. Key investors include ORLEN, Nippon Steel, SINTEF, Mitsubishi Corporation, and European Union Innovation Fund.