HySiLabs announced on 31 January a €13 million Series A investment round, backed by leading players, such as Equinor Ventures, the European Innovation Council Fund, EDP Ventures, and PLD Automobile. Historical investors Kreaxi, Région Sud Investissement, and CAAP Création also lent their support. This funding will be used to further develop HySiLabs’ innovative technology.
HySiLabs is located in Aix-en-Provence, France, and has developed a simpler and economical way of transporting and storing hydrogen. This process involves locking hydrogen molecules into a silica-based liquid carrier. Tests have shown that the carrier is stable and can be stored in existing infrastructure at normal atmospheric pressure and temperature.
HySiLabs’ patented technology has the potential to address the challenges of transporting and storing hydrogen at scale. Moreover, the molecule does not require energy to release hydrogen, an attractive advantage over other solutions. As hydrogen production is likely to be transported to demand hubs, the ability to release hydrogen without an energy cost is likely to be in high demand.