Norwegian electrolyser company Hystar has unveiled plans to construct a state-of-the-art factory just outside Oslo, commencing operations in early 2024. Additionally, the company is eyeing entry into the North American market to leverage investment incentives and meet the rising demand for sustainable hydrogen solutions.
Hystar's advanced electrolysis technology facilitates the production of green hydrogen by utilizing electricity to split water, offering a pathway to decarbonize industries that cannot easily transition to electricity alone.
Backed by significant financial support from Japanese industrial giants Mitsubishi and Nippon Steel Trading, Hystar aims to set a new industry standard. The company's technology is designed to be 10% more energy-efficient than existing models, with scalability as a key feature.
The upcoming factory, located in Hoevik outside Oslo, is poised to have an annual electrolyser production capacity of 4 gigawatts. This facility is expected to be fully operational by 2026, with initial deliveries scheduled later this year. Hystar already maintains a smaller research and production facility at the same site, capable of assembling 50 MW of electrolyser capacity.
According to data from the International Energy Agency, global electrolyser manufacturing capacity reached nearly 11 gigawatts per year in 2022, reflecting the industry's growing significance in the transition to clean energy.
In addition to expanding its European operations to meet regional demand, Hystar is charting a course towards North America. CEO Fredrik Mowill confirmed plans to establish a North American headquarters by 2024 and to construct a multi-gigawatt factory in the region by 2027.
Mowill emphasized the attractiveness of incentives and strong governmental commitment to the hydrogen sector in the United States and Canada. In the U.S., the Inflation Reduction Act (IRA) has offered investment incentives, and a dynamic hydrogen market is driving demand. The U.S. government is poised to propose the establishment of up to 10 hydrogen hubs in the near future, further underscoring the nation's dedication to sustainable energy solutions.
Mowill stated, “We would probably have gone to the U.S. anyway at some point, but this is certainly accelerating and motivating us to do things bigger and quicker.” Hystar's expansion endeavors align with the global drive toward cleaner and more sustainable energy sources, with green hydrogen poised to play a pivotal role in decarbonizing various industries.
