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If you’ve been following Hystar throughout 2023, you’ll know there have been a number of big announcements, kicking off with our Series B funding announcement in January. But if you ask Fredrik what stands out the most this year, he’s quick to point to Hystar winning a 5 MW electrolyser project with Polenergia in Poland.
He notes, “The project with Polenergia represents a very positive, inspiring initiative for green hydrogen in Europe. They’re a company that’s in the forefront of scaling up green hydrogen projects, and it’s a privilege to be involved in this one. Being selected to provide the electrolyser shows faith in Hystar’s leading technology, and our promise to deliver. It’s also a great project in general, as the hydrogen will be used for fuelling buses, which is a tangible use-case for green hydrogen and applicable across the world.”
Additions to the team is another big highlight of the year for us. As with last year, Hystar has seen incredible growth over the course of 2023, more than doubling the size of our organization… again!
“Hystar has ambitious growth plans,” Fredrik continues, “and I’m happy to say, not only are we on track with those, but we’re also exceeding our earlier expectations. We’ve out-grown our current office space – which was originally intended to cover us through 2024. So, it was great to be able to announce our new facilities, which will see us move into a significantly bigger space. We’re focused on making Hystar a great place to be, and having good facilities certainly supports that.”
The move into the new space – which remains at our current location just outside of Oslo – will take place at the end of Q1 2024 and not only includes office space but is the site of our upcoming GW factory; another big announcement this year. We’re steadily ramping up our production capacity and, the new GW factory in Norway will enable up to 4 GW annual production capacity.
At the same time as we announced our GW factory in Norway, Hystar announced its intentions to expand in the North American market.
“2024 will see us exploring options for our North American headquarters and GW factory,” confirms Fredrik. “The market is growing rapidly, and both the US and Canada have attractive incentives on offer which make the continent appealing for our second location.”
The main priority for Hystar going forward is to scale-up to mass production to be able to deliver on large-scale projects from 2026 and onwards. In the meantime, we’ll continue to focus on medium sized projects across the world, where we see many near-term opportunities.
We’re also looking forward to commissioning HyPilot – the 1 MW electrolyser project we’re working on together with Equinor, Yara, Gassco, and ABB – early in the New Year.
“It’s been a productive year and Hystar has made great progress,” says Fredrik. “I’ll be spending some quality time with my family over the holidays and trust my fellow HyStars get a well-deserved break, too. I’m looking forward to kicking off the New Year and making 2024 our best year yet!”
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