The Next Web writes that Hystar already operates a small research and production facility at the location of the upcoming factory, with a current electrolyzer output of 50MW. The first deliveries of green hydrogen are expected for the end of this year.

The Norse startup designs electrolyzers made from polymer electrolyte membrane (PEM), which are suitable for large-scale green hydrogen production.

Company officials plan to move the Headquarters to the US next year, while a "multi-GW" factory could go online by 2027.

PEM electrolyzers produce green hydrogen by splitting water atoms with the help of clean electricity and Hystar experts suggest that the company's own system uses 10% less power when compared to other solutions on the market.

Hystart CEO, Fredrik Mowill, said that "as we continue to scale up our operations, we are now looking at opportunities beyond Europe – the North American market has created a highly favorable environment for companies like ours to thrive in."

So far, Hystar raised a total of 30 million euros in private equity and Mitsubishi Electric and Nipon Steel are some of the company's more notable investors.

Photo source: Hystar