Hystar AS, a high-tech hydrogen company based in Norway, has successfully raised over USD 36 million in its Series C funding round. This capital infusion will allow Hystar to expedite its commercial scale-up efforts after securing multiple customer orders in the past year. The funding round attracted a mix of new and existing investors, including prominent names like Nysnø Climate Investments, Orlen VC, and MOL Switch, among others. Hystar's patented PEM electrolysers are renowned for being the most efficient and safe systems on the market, utilizing innovative technology to drive down the cost of green hydrogen production. In addition to the Series C funding, Hystar was also granted EUR 26 million from the EU Innovation Fund to support the establishment and operation of a fully automated gigawatt-scale production line. This new facility, slated for operation in 2027 with plans for significant scale-up by 2031, will have the capacity to produce 1.5 GW annually. The combination of the Series C funding and the EU grant positions Hystar to execute its growth strategy and contribute significantly to the energy transition through the widespread adoption of its green hydrogen technology. Fredrik Mowill, the CEO of Hystar, expressed enthusiasm about the successful funding round and highlighted the company's achievements in manufacturing and deploying commercial electrolyser units. The involvement of new and existing investors underscores the confidence in Hystar's trajectory and technology. Various stakeholders, including Kevin Eggers of AP Ventures and Geir Førre of Firda, commended Hystar's progress and expressed optimism about its future growth prospects. With support from investors like Nysnø Climate Investments and Nippon Steel Trading, Hystar is poised to become a major player in the global green hydrogen market, leveraging its unique technology and international outlook.