French hydrogen startup HySiLabs raises €13m Series A funding to accelerate growth
HySiLabs, the novel hydrogen transport and storage technology developer, announced €13 million Series A financing led by Equinor Ventures, and joined by the European Innovation Council Fund, EDP Ventures and PLD Automobile, with the support of historical investors Kreaxi, Région Sud Investissement and CAAP Création.
The funding will support the continued development of its technology. Based on years of R&D, HySiLabs is working to build a simpler and economical method for safely transporting and storing hydrogen.
Corine Dubruel, President and CEO, Hysilabs: "Hydrogen will be a cornerstone of the energy transition – whether for long term seasonal energy storage, or industrial fuel use. HySiLabs has developed a unique solution that can overcome the challenges of hydrogen transportation and storage. This investment from some of the leading names in the European energy space is a testament to the company’s technology breakthroughs and confidence in our experienced team.”
Based in Aix-en-Provence, France, HySiLabs is developing a unique process for locking hydrogen molecules into a silica-based liquid carrier, where the hydrogen can be released on demand. Early tests have shown that the carrier is stable and could be
safely transported and stored in existing infrastructure at ambient pressure and temperature conditions.
Lars Klevjer, Acting Head, Equinor Ventures: “Building on decades of energy innovation, Equinor is participating in several significant hydrogen projects. We very much look forward to working with HySiLabs to support their development and bring them to the next phase of its journey.”
HySiLabs’ patented technology holds the potential to disrupt the fundamental challenge of how to safely and economically transport and store hydrogen at scale. Crucially, HySiLabs’ molecule requires energy to lock hydrogen into the carrier, and none to release it, a major difference with solutions currently contemplated. In a future where hydrogen production is expected to be shipped to energy demand hubs, this ability to release hydrogen without an energy cost is perceived as highly attractive.
Luís Manuel, Managing Partner, EDP Ventures: “EDP believes that renewable hydrogen will be a key enabler for the energy transition and aims to be an active agent in its development on a global scale. While focusing on its production, we see Hysilabs´ technology as an innovative booster for the creation of a renewable hydrogen market worldwide.”