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 historical investors Kreaxi, Région SudInvestissement and CAAP Création
The startup, supported by EIT InnoEnergy since 2017, is working to build a simpler and economical method for safely transporting and storing hydrogen.
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.
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.