Hystar - About the company
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 161 active competitors, including 39 funded and 7 that have exited. Its top competitors include companies like Verdagy, H3 Dynamics and ITM Power.
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
- Social
- 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
Investors
Ranked
6th among 161 active competitors
Employee Count
64 as on Mar 31, 2026
Similar Companies
Legal entities associated with Hystar
Hystar is associated with 1 legal entity given below:
Legal Entity Name | Date of Incorporation | Revenue | Latest Employee Count | Documents |
|---|---|---|---|---|
Hystar As CIN: 925767522 , Norway, Active | Sep 16, 2020 | $2.29M (As on Dec 31, 2023) | 36 (As on Dec 31, 2023) |
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Hystar's funding and investors
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
Filter this listDate of Funding | Funding Amount | Round Name | Post-Money Valuation | Revenue Multiple | Lead Investors | Other Investors |
|---|---|---|---|---|---|---|
May 15, 2025 | 8352747 | Series C | 9370030 | 6882323 | 6158167 | 4645978 |
Oct 24, 2024 | 1907791 | Grant (prize money) | 3782109 | 7212015 | 5494402 | |
Jan 11, 2023 | 5478551 | Series B | 1590992 | 8968940 |
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Hystar's founders and board of directors
Founder? Claim ProfileThe founders of Hystar is Alejandro Oyarce. Fredrik Mowill is the CEO of Hystar.
Here are the details of Hystar's key team members:
- Alejandro Oyarce: Co-Founder & CTO of Hystar.
- Fredrik Mowill: CEO of Hystar.
View details of Hystar's Founder profiles and Board Members
Hystar's employee count trend
Hystar has 64 employees as of Mar 26. Here is Hystar's employee count trend over the years:
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Hystar's Competitors and alternates
Top competitors of Hystar include Verdagy, H3 Dynamics and ITM Power. Here is the list of Top 10 competitors of Hystar, ranked by Tracxn score:
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Rank | Company Details | Short Description | Total Funding | Investors | Tracxn Score |
|---|---|---|---|---|---|
1st |  Verdagy 2021, Moss Landing (United States), Series B | Provider of electrolyzers for hydrogen production | $98M | 66/100 | |
2nd | H3 Dynamics 2015, Singapore (Singapore), Series B | Provides aerial inspection services using drones | $39M | 65/100 | |
3rd |  ITM Power 2001, Sheffield (United Kingdom), Public | Manufacturer of electrolysers for green hydrogen production using proton exchange membrane technology | - | 65/100 | |
4th |  Electric Hydrogen 2020, San Carlos (United States), Series C | Manufacturer of advanced electrolyzer systems for clean hydrogen production solutions | $603M | 64/100 | |
5th |  Supercritical 2020, London (United Kingdom), Series A | Provider of high-pressure electrolyzer for the production of hydrogen and oxygen from water | $21M | 62/100 | |
6th | Provider of hydrogen generation solutions using electrolyzers | $67.9M | 58/100 | ||
7th | Manufacturer of pressurized alkaline electrolyzers and solid oxide electrolyzer cell systems | $487M | 61/100 | ||
8th |  Jakson Green 2022, Noida (India), Funding Raised | Developer of solar PV projects | - | 60/100 | |
9th |  Versogen 2018, Wilmington (United States), Series A | Provider of solutions for hydrogen generation | $15.5M | 59/100 | |
10th |  Clean Power Hydrogen 2016, Doncaster (United Kingdom), Public | Manufacturer of membrane-free electrolysers for green hydrogen production solutions | $3.64M | 59/100 |
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Hystar's Investments and acquisitions
Hystar has made no investments or acquisitions yet.
Reports related to Hystar
Here is the latest report on Hystar's sector:
News related to Hystar
Filter this listMedia has covered Hystar for a total of 4 events in the last 1 year, 1 of them has been about company updates and 1 about partnerships.
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Hystar and McDermott to develop 100MW PEM electrolyser plant2 View•Dec 08, 2025•McDermott International, Hystar, Hystar
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Nysnø invests in Hystar AS to accelerate global growth of green hydrogenBiofuels Digest•May 16, 2025•Nysno, Hystar
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Hystar secures more than $36 million to fast-track electrolyzer deploymentOffshore Energy•May 13, 2025•Hystar, Nysno, ORLEN, MOL Switch and 6 others
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Hystar lands second electrolyser deal in South Korea with Sunbo Unitech2 View•Mar 14, 2025•Hystar, co.kr
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HyPilot officially opens HyPilot project aimed at advancing hydrogen potential in the energy transitionRenewable Energy Magazine•Nov 20, 2024•Hystar
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Hystar awarded grant for automated industrial production of electrolyzer stacksChemengonline•Oct 28, 2024•Hystar, European Commission
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Hystar to receive 26 million euro grant from EU Innovation FundRenewable Energy Magazine•Oct 24, 2024•Hystar, Europa
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