When was Hystar founded?

Hystar was founded in 2020 and raised its 1st funding round 1 year after it was founded.

Where is Hystar located?

Hystar is headquartered in Oslo, Norway.

How many employees does Hystar have?

As of Aug 31, 2026, the latest employee count at Hystar is 66.

Is Hystar a funded company?

Hystar is a funded company, having raised a total of $67.9M across 4 funding rounds to date. The company's 1st funding round was a $***** Series A round, raised on Mar 2021.

When was the latest funding round of Hystar?

Hystar's latest funding was a $***** Series C round on May 15, 2025, with participation from 1 investor.

What is the annual revenue of Hystar?

Annual revenue of Hystar is between $1M and $10M as on Dec 31, 2023

Where does Hystar rank among its competitors?

Hystar ranks 10th amongst 216 active competitors, of which 41 are funded. It stands 4th in terms of total funding among its competitors. The most recent competitor to raise funding was Dynelectro, which secured $1.5M in Jun, 2026.

Who are the top competitors of Hystar?

Hystar's top competitors include Sunfire, H3 Dynamics and Electric Hydrogen. Among them, Dynelectro secured the most recent funding round in June, 2026.

Hystar - 2026 Company Profile, Team, Funding, Competitors & Financials

Hystar is a series C company based in Oslo (Norway), founded in 2020 by Alejandro Oyarce. It operates as a Provider of hydrogen generation solutions using electrolyzers. Hystar has raised $67.9M in funding from investors like AP Ventures, Mitsubishi Corporation and SINTEF. The company has 216 active competitors, including 41 funded and 8 that have exited. Its top competitors include companies like Sunfire, H3 Dynamics and Electric Hydrogen.

Company Details

Provider of hydrogen generation solutions using electrolyzers. The company leverages a proton exchange membrane (PEM) technology that enables green hydrogen to be produced at higher efficiencies.

Website: hystar.com
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Email ID: *****@hystar.com

Key Metrics

Founded Year

2020

Location

Oslo, Norway

Stage

Series C

Total Funding

$67.9M in 4 rounds

Latest Funding Round

Series C, May 15, 2025, $*****

Investors

AP Ventures & 9 more

Ranked

10^th among 216 active competitors

Annual Revenue

$1M - $10M as on Dec 31, 2023

Employee Count

66 as on Aug 31, 2026

Similar Companies

H3 Dynamics & 58 more

View Hystar's full profile

Hystar is associated with 1 legal entity given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Reports
Hystar As CIN: 925767522 , Norway, Active	Sep 16, 2020	$1M - $10M (As on Dec 31, 2023)	36 (As on Dec 31, 2023)

Hystar has raised a total funding of $67.9M over 4 rounds. Its first funding round was on Mar 2021. Its latest funding round was a Series C round on May 15, 2025 for $*****. 1 investor participated in its latest round. Hystar has 10 institutional investors.

Here is the list of recent funding rounds of Hystar:

Filter this list

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
May 15, 2025	2667648	Series C	2561556	1286261	9186578	5249239
Oct 24, 2024	8802724	Grant (prize money)	3518258	4930880	1263338	Euinnovationfund
Jan 11, 2023	9349796	Series B	4408995	3926317	AP Ventures & 1 more	Finindus & 5 more

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View details of Hystar's funding rounds and investors

The founders of Hystar is Alejandro Oyarce.

Here are the details of Hystar's key team members:

Alejandro Oyarce: Co-Founder & CTO of Hystar.

Hystar's Board of Directors

Hystar's board has 5 active members. Kevin Arthur Eggers, Charles Bartholomew Clark, Geir Forre, Eli Grong Aursand and Fredrik Rolf Mowill are independent board members.

Here is the list of Hystar's board of directors:

Name	Type	Representing	Status	Duration
Kevin Arthur Eggers	Independent board member	-	Current	-
cutqpmd	Independent board member	-	Current	1y 6m
ofsmdyu	Independent board member	-	Current	4y 1m
hwjznor	Independent board member	-	Current	5y 9m
qbafcex	Independent board member	-	Current	3y 9m

View details of Hystar's Founder profiles and Board Members

Hystar's employee count trend

Hystar has 66 employees as of Aug 26. Here is Hystar's employee count trend over the years:

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Top competitors of Hystar include Sunfire, H3 Dynamics and Electric Hydrogen. Here is the list of Top 10 competitors of Hystar, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Sunfire 2010, Dresden (Germany), Series E	Manufacturer of industrial alkaline and solid oxide hydrogen electrolysis systems	$487M	Lightrock, Inven Capital & 37 others	66/100
2nd	H3 Dynamics 2015, Singapore (Singapore), Series B	Provides aerial inspection services using drones	$39M	ACA Investments, Sumitomo Mitsui Banking Corporation ... & 13 others	64/100
3rd	Electric Hydrogen 2020, San Carlos (United States), Series C	Manufacturer of advanced electrolyzer systems for clean hydrogen production solutions	$603M	Fifth Wall, Energy Impact Partners & 26 others	64/100
4th	Supercritical 2020, London (United Kingdom), Series A	Provider of high-pressure electrolyzer for the production of hydrogen and oxygen from water	$21M	Shell, Toyota Ventures & 7 others	62/100
5th	Jakson Green 2022, Noida (India), Funding Raised	Developer of solar PV projects	-	FAB, HSBC	60/100
6th	HYDGEN 2024, Singapore (Singapore), Seed	Developer of decentralized green hydrogen production solutions	$6.49M	Transition VC, Cloudberry Pioneer Investments ... & 6 others	59/100
7th	Next Hydrogen 2007, Mississauga (Canada), Public	Developer of water electrolyzer technology for green hydrogen production solutions	-	Pathfinder, Smoothwater Capital & 3 others	59/100
8th	Dynelectro 2018, Copenhagen (Denmark), Series A	Designer and manufacture Dynamic Electrolyser Units which produce green hydrogen for carbon-neutral eFuels	$25.6M	Danmarks Eksport og Investeringsfond, Shell ... & 9 others	59/100
9th	Ohmium 2019, Newark (United States), Series C	Manufacturer of proton exchange membrane electrolyzers for green hydrogen production	$295M	3M, TPG & 6 others	58/100
10th	Hystar 2020, Oslo (Norway), Series C	Provider of hydrogen generation solutions using electrolyzers	$67.9M	Hillhouse, Trustbridge Partners & 8 others	58/100