Hysun Raises €3 Million to Scale Its Green Hydrogen Technology, Backed by Equinor Ventures and Axon Partners Group
Spanish company Hysun, specialized in clean hydrogen production from solar energy, has closed a funding round of €3 million with the support
of leading international and national investors.
The transaction brings in new partners Equinor Ventures – the corporate venture capital arm of the international energy company Equinor, committed to long-term value creation in a low-carbon future – and Axon Partners Group, through its NTV fund supported by Ventures EPM of the multilatina utility EPM. Axon is a venture capital firm with extensive experience in disruptive technologies. They join the round alongside global cleantech leader InnoEnergy, and founders NANOGAP and Tewer Engineering. The deal was advised by the law firm Tribeca Abogados.
The funding will be used to validate Hysun’s technology in a real-world environment through a prototype installed at the Plataforma Solar de Almería, a decisive step toward advancing green hydrogen production at competitive costs compared to grey hydrogen – the most widely used in industry today.
“Our photo-thermo-catalytic process based on solar concentration technology does not rely on electricity, which removes one of the biggest cost barriers of green hydrogen,” explains Marco Carrascosa, founder and CTO of Hysun. “This milestone allows us to demonstrate that science can be translated into an industrial solution that is both scalable and competitive.”
According to the European Hydrogen Observatory, producing green hydrogen via electrolysis currently costs between €6 and €8/kg, compared to €1–2/kg for grey hydrogen. Hysun’s new technology, which produces 100% renewable hydrogen without using electricity, aims to position green hydrogen within a competitive cost range that will accelerate its industrial adoption.
“This round marks a turning point for Hysun, as it allows us to demonstrate that our technology is not only viable but can also transform the competitiveness of renewable hydrogen in Europe and position Spain as a benchmark in energy innovation,” said Tatiana López, Founder and CEO of Hysun.
In the words of Álvaro Pascual, Senior Associate at Axon Partners Group: “We are delighted to join Hysun, an outstanding founding team with the ability to revitalize hydrogen as an energy vector, at a time when its viability is being widely questioned”. For his part, Børre Stokholm, Investment Director at Equinor Ventures, adds: “We are pleased to join Hysun in the validation and testing of its technology. If successful, this
could be a game-changer for hydrogen”.
The support of leading investors such as Equinor Ventures and Axon Partners Group provides not only capital but also strategic and industrial know-how, enabling Hysun to accelerate its development and unlock new growth opportunities in a market that is key to the energy transition.
Expected impact
- Contribute to the decarbonization of hard-to-electrify sectors such as heavy
industry and transport. - Boost the competitiveness of green hydrogen by narrowing its cost gap with grey
hydrogen. - Foster R&D excellence and talent creation in Europe’s clean energy ecosystem.
With this milestone, Hysun consolidates its position as a leading European startup in the energy transition and underscores the confidence of investors in Europe’s capacity for technological innovation.