Participated · Series B · May 2024

Hysata develops a new type of electrolyser featuring an electrolysis cell coupled with a simplified balance of plant to produce green hydrogen. The company intends to scale manufacturing capacity at its Wollongong, New South Wales facility and pursue gigawatt-scale production. Hysata plans to use the recent funding to expand production and further develop its technology. Led by CEO Paul Barrett, the company emphasizes high efficiency, intrinsically low capex, and a mass-manufacturable design to lower the levelised cost of hydrogen. Hysata currently employs roughly 75 staff and aims to grow to more than 200 employees over the next couple of years while expanding its footprint across multiple continents. Hysata has developed a redesigned hydrogen electrolyser that eliminates gas-bubble formation and cuts electrical resistance, claiming around 95% efficiency versus ~75% for current technologies. The company says the design greatly reduces cooling needs and can produce green hydrogen at well below the competitive target of $2 per kilogram. Hysata spun out of research at the University of Wollongong and is commercialising the laboratory concept. As part of commercialization, Hysata will build and test a 5 MW system at its Port Kembla manufacturing facility. The full system is planned to be moved to Rockhampton for installation and trials adjacent to Stanwell Power Station, with the field pilot due to commence in 2025. The project is framed as a key step to unlocking commercial demand if the prototype proves effective at scale. Hysata is an Australian company that develops hydrogen electrolyser technology to produce green hydrogen. Its core product is an electrolyser system that operates at 95% system efficiency. Led by CEO Paul Barrett, the company positions the technology for scalability with potential availability in Europe from 2030. Hysata raised USD23M in a Series A to support growth. The company intends to use the funds to grow the team and develop a pilot manufacturing facility. Participating investors include Virescent Ventures (on behalf of the Clean Energy Finance Corporation), Kiko Ventures, IP Group Australia, Vestas Ventures, Hostplus and BlueScope via BlueScopeX.

Participated · Series B · Jan 2022

ReCarbon is a Santa Clara, Calif.-based developer of a greenhouse gas utilization technology platform. Led by Founder and CEO Dr. Jay Kim, the company is an energy and chemicals firm that recycles greenhouse gases into valuable energy and decarbonized products. Its technology produces hydrogen and syngas from greenhouse gas feedstocks. ReCarbon closed a USD25M Series B-1 funding round. Backers included POSCO and GS Holdings Corporation. ReCarbon develops a Plasma Carbon Conversion Unit (PCCU) platform and proprietary plasma generation systems that recycle industrial carbon emissions into industrial gases and other revenue-generating products. The company’s pilot plant in Daegu, South Korea, is capable of producing fuel-cell-grade hydrogen from landfill gas (LFG). ReCarbon is advancing a commercial plant in Tennessee in partnership with exclusive national LFG-to-renewable-hydrogen distributor H2Renewables, LLC, and is developing projects in Canada and Australia. The company is led by President and CEO Dr. Jay Kim. In March 2019 ReCarbon raised US$7m as part of a Series B funding. The investor named in the announcement was Doosan Mecatec Co., Ltd., a wholly owned subsidiary of the Doosan Group headquartered in Seoul, South Korea.

Participated · Series A · Apr 2020

ThorDrive develops a comprehensive full-autonomy platform (Thor AI Driver) integrating LiDAR, camera, RADAR, low-cost GPS and AI for perception, localization, planning and control in real time. The company says its stack has been validated through tests in U.S. Silicon Valley and Seoul road environments and through roughly 100,000 km of urban driving trials, including high‑precision positioning that works in GPS‑shadowed areas. ThorDrive plans to further advance level 4–5 full autonomous driving performance and to develop practical, service-ready autonomous driving technology in the near term. It reports strong interest from European global Tier‑1 suppliers and logistics and retail customers. Product deployment plans this year include autonomous personal-transport vehicles for mobility-impaired users at Incheon International Airport terminals 1 and 2, and a U.S. pilot with a European Tier‑1 partner to develop a new concept autonomous vehicle. The company has positioned its technology toward commercialization and market partnerships rather than demonstration-only projects.

Participated · Series A · May 2016

Althea operates an online platform exporting and selling Korean cosmetics and beauty products to Southeast Asian markets. Launched in July 2015, it sources products in Korea to introduce new, trendy items to Indonesia, Malaysia, Singapore and the Philippines, and plans to enter Thailand and Vietnam before the end of the year. The company exports all products directly out of Korea and maintains an office in Kuala Lumpur. Althea intends to introduce its own-label products by early next year and expects it will likely need additional funding to bring that brand to market. It employs about 25 staff, claims 500,000 monthly unique visitors, reports an annualized run rate of over $10 million in revenue, and says it is growing at 30% per month. Management stated the business is on track to reach profitability by the end of the year. Althea operates an ecommerce platform that sells authentic Korean skincare, makeup, cleansers and pack-and-mask products packaged in a beauty box. The company sources and delivers products from a warehouse in Korea and emphasizes reasonable pricing and a strong returns policy. Co-founded by Frank Kang, Christopher Cynn and Jae Kim, Althea is based in Kuala Lumpur, Malaysia. The company raised seed funding from 500 Startups (amount undisclosed). It intends to use the funds to continue growing across Southeast Asia, specifically in Singapore, Malaysia, Indonesia, Thailand, Vietnam and the Philippines. No revenue or user metrics were disclosed in the article.