HySiLabs announced today a EUR 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 its current investors Kreaxi, Région SudInvestissement, and CAAP Création.
The start-up, supported by EIT InnoEnergy since 2017, is building a simpler, more economical method for safely transporting and storing hydrogen. Hysilabs is developing a way to lock 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 safely be transported and stored in existing infrastructure at ambient pressure and temperature conditions.
HySiLabs’ patented technology holds the potential to crack how to store and transport hydrogen at scale. Crucially, HySiLabs’ molecule requires energy to lock hydrogen into the carrier and none to release it, a major difference with competing solutions. 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.