Hystar

Active#10 in Norway

Estimated valuation · Hydrogen · Norway

Develops and manufactures PEM electrolysers with a thin-membrane design for industrial green hydrogen production, aiming to lower power use and cost per kilogram of hydrogen.

Climate›hydrogen electrolysers hystar.com

Founded2020

HQHøvik

Last roundSeries C · May 2025

Country of originNorwayListed in the Norway ranking

Where would you invest?NorwayJurisdiction as cited by the ranking

Estimated valuation

AI · Norway ranking

≈ USD 190MUSD 150–230M · Hundreds of M$

Hundreds of k$

Millions $

Tens of M$

Hundreds of M$

Unicorn

Decacorn

Hectocorn

Anchor: Last known equity round: Series C · USD 36M · May 2025
AI adjustment: None

In the Hydrogen ranking (worldwide): ≈ USD 190M · USD 150–230M · Hundreds of M$.

An indicative editorial estimate produced by AI, imperfect by nature: neither a financial valuation nor investment advice. Only the market sets a company’s value. Method

Uback rankings

How the AI ranks →

Ranking	Tier	Rank	Edition	Next update
Norway · all sectors	Top 20	#10	Edition 0 · October 2026	25 Nov 2026
Hydrogen · worldwide	Top 21	#14	Edition 0 · Oct 2026	14 Feb 2027

Rank historyOct 2026 · #10 NorwayOct 2026 · #14 HydrogenFirst edition: no movements yet.

Funding history

Date	Round	Amount	Type	Investors
May 2025	Series C	USD 36M	Equity	Nysnø, Orlen VC, MOL Switch, Stenshagen Invest, Nysnø Climate Investments

About NOK 375M.

Rounds as cited by Uback’s rankings. Equity, debt and grants are shown separately; only equity rounds count towards the valuation anchor.

Independent analyses

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What the AI reads

Read by the AI at the next edition.

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Last updated: Oct 2026Report an error

Uback is a content publisher and an aggregator of non-binding expressions of interest. It provides no investment advice, receives no mandate and takes part in no transaction. Rankings, ranges and brackets are editorial estimates produced by AI, purely indicative.