Startup
Hystar
Startup · Oslo, Norway
Hystar is an Oslo-based green hydrogen company founded in 2020 as a spin-off from SINTEF. The company manufactures PEM (proton exchange membrane) electrolysers with membranes 90% thinner than conventional alternatives, significantly cutting electricity consumption and the levelised cost of green hydrogen. Hystar raised $36 million in a Series C round in May 2025 co-led by Nysnø Climate Investments and Orlen VC, building on a $26 million Series B in 2023. The company also secured €26 million from the EU Innovation Fund in late 2024 to support construction of a 1.5 GW automated gigafactory in Høvik, Norway, targeting 4.5 GW capacity by 2031.
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