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Hystar

Energy · Bærum, Norway · Founded 2021

Makes advanced PEM electrolysers for large scale green hydrogen production MoreLess

Hystar is a forward-thinking company that specializes in the development and production of PEM (Proton Exchange Membrane) electrolysers, which are used to generate green hydrogen through water electrolysis. Green hydrogen is a clean energy source that can significantly reduce greenhouse gas emissions, making it a crucial component in the global transition to sustainable energy.

Hystar emerged as a spin-off from SINTEF, one of the largest independent research organizations, which underscores its strong foundation in research and innovation. The company operates in the green energy market, focusing on providing solutions that make the production of hydrogen from renewable electricity more efficient and cost-effective.

Hystar offers two main product lines of PEM electrolyser systems. These systems are designed with a modular approach, allowing for easy and flexible implementation across a broad range of applications. This flexibility makes Hystar's products suitable for various clients, including industries looking to reduce their carbon footprint, energy companies seeking sustainable alternatives, and governments aiming to meet environmental regulations.

The company's business model revolves around the development, manufacturing, and sale of these advanced electrolyser systems. Hystar generates revenue by selling these systems to clients who are looking to produce green hydrogen efficiently. Additionally, the company may offer maintenance and support services, ensuring that their clients can maximize the performance and longevity of their electrolysers.

Hystar is well-financed and growth-oriented, with a diverse and passionate team dedicated to advancing green technology. The company prides itself on its ethical approach, transparency, and commitment to delivering on its promises. By making green hydrogen production more affordable and accessible, Hystar is playing a pivotal role in the global effort to combat climate change.

Keywords: PEM electrolysers, green hydrogen, water electrolysis, SINTEF spin-off, renewable energy, greenhouse gas reduction, modular systems, sustainable technology, energy transition, innovative solutions.

Valuation $100–500M
Revenue $1–10M
Headcount <100
Total funding $50–100M
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Company overview

Hystar company information

The essential company record, classifications and operating signals in one place.

Status
Operational
Founded
2021
Headquarters
Bærum, Norway
Employees
64
Open positions
None listed
Dealroom signal
79.9
client focusb2btechnologyHardwaretechnologyDeep Techsub industryClean Energybusiness modelManufacturingsectorHydrogensectorSpinoutsectorSustainable Development GoalssectorClimate TechsectorNordic Rising Star 2022sectorNovel EnergysectorElectrolysissectorHydrogen ProductionsectorDT and LS

Valuation & funding

Hystar funding history

Company financing events and reported valuations.

Deal typeDateAmountValuationInvestorsSource
SERIES COther financing May 2025 $36M $144M SINTEF TTO & Venture · AP Ventures · Nysnø Climate Investments · Firda
GRANTOther financing Oct 2024 $29M EU Innovation Fund
SERIES BOther financing Jan 2023 $26M $104M Trustbridge Partners · Finindus · Firda · Mitsubishi
EARLY VCOther financing Apr 2021 $5.9M $24M SINTEF TTO & Venture · AP Ventures · Firda
SPINOUTOther financing Jan 2021 $0 SINTEF · SINTEF TTO & Venture
Showing 5 recorded eventsUnlock the complete deal history →

Financials

Revenue and workforce over time

Available revenue and workforce history. Fields without reported data are omitted.

YearRevenueGrowthEmployees
2026 $1.8M 0% 64
2025 $1.8M 0% 61
2024 $1.8M -38.9% 79
2023 $2.9M +16.2% 51
2022 $2.5M +196.3%
2021 $851K
Company filings, research estimates and Dealroom dataOpen the full financial model →

Growth signals

Hystar website traffic

Latest recorded traffic for Hystar is 3.2K monthly website visits, down 31.9% over the last three months. Hystar's team grew 4.9% over the past year.

Latest monthly visits3.2K 3-month web change-31.9% 1-year team growth+4.9%
Monthly website visits64 observations · Feb 2021–Jul 2026
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Comparisons

Hystar compared with similar companies

Dealroom’s weighted taxonomy model identifies the closest operating peers. Company identity and context stay open; selected comparison metrics preview what is available in the platform.

Showing 8 of the closest matchesCompare every metric →

Talent graph

Hystar's talent

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Team profiled 6 named & role-tagged
Founders Hidden — book a demo/100 quality score
Key operators 3 quality Hidden — book a demo/100
Potential founders Hidden — book a demo likely future founders
Startup mafia Hidden — book a demo alumni-founded startups
Talent movements Hidden — book a demo in · Hidden — book a demo out past 12 months

Source: Dealroom Talent Intelligence.

Investors

14 investors on Hystar's cap table

Sourced from Dealroom's funding and investor records. Investor profile links are shown where available.

Seed 1 investor entered at this stage
EU Innovation Fund
Series A 8 investors entered at this stage
SINTEF TTO & Venture
AP Ventures
Firda
Mitsubishi
Trustbridge Partners
Finindus
Hillhouse Capital
Nippon Steel
Series B+ 4 investors entered at this stage
Nysnø Climate Investments
Stenshagen Invest
ORLEN VC
MOL Switch
Other known 1 additional known investor
SINTEF

Global footprint

Where Hystar has talent and traffic

Workforce by country
7 countries with
team presence
🇳🇴 Norway87.5%
🇸🇪 Sweden3.6%
🇩🇰 Denmark1.8%
🇳🇱 Netherlands1.8%
🇩🇪 Germany1.8%
Top 5 of 7 shown

In the news

Latest news about Hystar

Recent press, funding announcements, and product moves mentioning Hystar — open to read from the original sources.

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Market sentiment

What the market is saying about Hystar

An AI-synthesized read of the highest-engagement posts about Hystar on X over the past 7 days. We rank by likes & retweets, ignore corporate channels, and surface the themes that broke out from real people.

Reading the room on X — pulling top posts and synthesizing themes…

Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour

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