Hysun, a portfolio company of InnoEnergy, has secured €3 million in new funding to accelerate the development of its solar-based hydrogen technology. The investment round brings in Equinor Ventures, the corporate venture capital arm of global energy company Equinor, and Axon Partners Group, through its NTV fund supported by Ventures EPM of the multilatina utility EPM. Both firms bring valuable expertise in disruptive technologies and long-term support for the energy transition. The round also included participation from the company’s founders, NANOGAP and Tewer Engineering, along with InnoEnergy. Legal advice for the transaction was provided by Tribeca Abogados.
Hysun has developed an innovative photo-thermo-catalytic process that uses solar concentration to produce 100% renewable hydrogen. Unlike most green hydrogen approaches, this technology does not rely on electricity, which removes one of the largest cost barriers in hydrogen production. By eliminating this hurdle, Hysun is positioning itself to compete directly with grey hydrogen, which continues to dominate industrial applications.
The newly raised funding will support the construction and deployment of a full-scale prototype at the Plataforma Solar de Almería in Spain. This facility will allow Hysun to demonstrate the scalability and competitiveness of its process under real-world conditions. According to Marco Carrascosa, founder and CTO of Hysun, the company’s approach represents a critical step in transforming advanced science into an industrial solution that is both scalable and competitive.
Equinor Ventures and Axon Partners bring strategic insight and international reach to this collaboration, highlighting growing confidence in Hysun’s potential to influence the future hydrogen market. Their participation also reinforces Europe’s role in driving technological innovation in clean energy. With this investment, Hysun strengthens its position as an emerging leader in the European energy transition.
The project is expected to make a significant contribution to decarbonization efforts, particularly in hard-to-electrify sectors such as heavy industry and transport. It also has the potential to narrow the cost gap between green and grey hydrogen, while supporting research, development, and talent growth within Europe’s clean energy ecosystem.
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