Hysilabs, a company focusing on innovation in hydrogen transportation and storage, successfully secures €13 million in its Series A funding round.

In a significant step forward for the hydrogen industry, HySiLabs, a French-based company founded in 2015 by Pierre-Emmanuel Casanova and Vincent Lôme PhD, has secured €13 million in its Series A financing round.

The funding, led by Equinor Ventures, will support the continued development of HySiLabs' unique technology for safely transporting and storing hydrogen. The technology involves a process of locking hydrogen molecules into a silica-based liquid carrier, which can be safely stored and transported at ambient pressure and temperature conditions.

This innovative approach offers a significant difference from current solutions, as the molecule used by HySiLabs requires energy to lock hydrogen into the carrier, but none to release it. This energy-efficient process could potentially disrupt the fundamental challenge of hydrogen transportation and storage at scale.

The funding round also saw participation from the European Innovation Council Fund, EDP Ventures, PLD Automobile, Kreaxi, Région Sud Investissement, and CAAP Création.

Lars Klevjer, acting head of Equinor Ventures, expressed excitement about working with HySiLabs to support their development and bring them to the next phase of their journey. Luís Manuel, Managing Partner of EDP Ventures, believes that renewable hydrogen will be a key enabler for the energy transition and aims to be an active agent in its development on a global scale.

HySiLabs' patented technology has already been involved in several industrial pilots, including H2Gate with the Port of Amsterdam and QualifHY with Helion Hydrogen Power. The company has also recently signed an MoU with Vinci Geostock to test underground storage of hydrogen.

In 2022, HySiLabs was selected as French Tech Green20 and won the French CEO of the Year Awards at EU Business News. Corine Dubruel, the President and CEO of HySiLabs, stated that hydrogen will be a cornerstone of the energy transition.

The Series A funding round is not the company's first; it has completed its round with additional capital to be raised in a second closing in February 2023. The European Innovation Council Fund invests across all technologies and verticals, aiming to fill a critical financing gap and support companies in the development and commercialisation of disruptive technologies.

Moreover, the EIC Fund pays particular attention to the empowerment and support of female founders and reducing the innovation divide among EU countries. This commitment aligns with HySiLabs' mission to contribute to a sustainable energy future.

EDP Ventures, the investment arm of EDP, supports and stimulates the open innovation process and invests directly in companies, projects, and funds in clean tech. The company's focus on innovation and renewable energies, as demonstrated by its global engagement in electricity and gas production, transport, distribution, and trading, makes it an ideal partner for HySiLabs.

Equinor Ventures, the corporate venture capital arm of Equinor, invests in ambitious early-phase and growth companies. Their involvement in HySiLabs' Series A funding round underscores their commitment to backing promising technologies that can contribute to a sustainable energy future.

As HySiLabs continues to develop and refine its technology, it is poised to play a significant role in overcoming the challenges of hydrogen transportation and storage, paving the way for a more sustainable energy future.

Hysilabs, a company focusing on innovation in hydrogen transportation and storage, successfully secures €13 million in its Series A funding round.