Spain-based Hysun, a portfolio company of InnoEnergy, has raised €3 million in new funding to accelerate the development of its solar-driven hydrogen production technology. The round brought in Equinor Ventures, the corporate venture arm of Norwegian energy major Equinor, and Axon Partners Group, investing through its NTV fund supported by Ventures EPM of the multilatina utility EPM.

Both new investors add strategic depth to Hysun’s mission, bringing expertise in disruptive technologies and long-term support for the global energy transition. The company’s founders — NANOGAP and Tewer Engineering — along with InnoEnergy, also participated in the funding round. Tribeca Abogados provided legal counsel for the transaction.

Hysun has developed a photo-thermo-catalytic process that harnesses solar concentration to produce 100% renewable hydrogen. Unlike most green hydrogen technologies, which depend on electricity for electrolysis, Hysun’s approach eliminates the need for an external power source — a key cost driver in conventional production methods. By doing so, the company aims to achieve cost parity with grey hydrogen, which continues to dominate industrial use.

The newly raised capital will fund the construction and deployment of a full-scale prototype at the Plataforma Solar de Almería in Spain. The demonstration facility will validate the scalability and competitiveness of Hysun’s process under real operating conditions. According to Marco Carrascosa, Founder and CTO of Hysun, the project marks a significant step towards transforming advanced science into an industrial-scale clean hydrogen solution.

The entry of Equinor Ventures and Axon Partners highlights growing confidence in Hysun’s potential to shape the future hydrogen landscape. Their involvement also underscores Europe’s leadership in clean-energy innovation and its continued focus on advancing low-carbon technologies.

Hysun’s technology could play a pivotal role in decarbonising hard-to-electrify sectors, including heavy industry and transport, while bridging the cost gap between green and grey hydrogen. The initiative further contributes to research, innovation, and talent development across Europe’s evolving clean-energy ecosystem.

With this funding, Hysun strengthens its position as a front-runner in renewable hydrogen, advancing a pathway that could redefine the economics of sustainable fuel production.

Source: 

https://solarquarter.com/2025/10/04/hysun-backed-by-innoenergy-raises-e3m-to-transform-green-hydrogen-production/