InnoEnergy portfolio company Hysun has successfully closed a €3 million funding round to accelerate the validation of its breakthrough solar-based hydrogen technology. 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 founders NANOGAP and Tewer Engineering and InnoEnergy, The deal was advised by the law firm Tribeca Abogados.
Hysun’s innovative photo-thermo-catalytic process produces 100% renewable hydrogen using solar concentration, without relying on electricity. This approach eliminates one of the major cost barriers of green hydrogen and positions Hysun to compete directly with grey hydrogen, which currently dominates industrial use.
Full-Scale Prototype
The funding will support the deployment of a full-scale prototype at the Plataforma Solar de Almería, marking a critical step in demonstrating the scalability and competitiveness of Hysun’s technology in real-world conditions.
“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.”
Equinor and Axon Partners
Equinor Ventures, the corporate venture arm of global energy leader Equinor, and Axon Partners Group, through its NTV fund supported by Ventures EPM, bring deep sector expertise and strategic insight to the partnership. Their involvement underscores growing confidence in Hysun’s potential to reshape the hydrogen landscape
Strategic Impact
With this investment, 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.
- Contribute to the decarbonisation 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.
Caption (from left to right): Luis Barcelona (NANOGAP); Jordi Daunis (InnoEnergy); Tatiana López (Founder, Hysun); Børre Stokholm (Equinor Ventures); Álvaro Pascual (Axon Partners); Juan Bezares (Tribeca Abogados)
