Hyperion plans to invest more than $297 million in the new facility to manufacture its next-generation hydrogen fuel cell, which will power its new line of stationary and mobile energy storage products, including its XP-1 “hypercar”. The investment is expected to create more than 680 new jobs over the next six years, with an annual payroll of up to $58 million, the company reported.

Founded originally in Columbus in 2011, Hyperion’s return to the city comes as other hydrogen technology startups and manufacturers have also recently made Columbus home.

“After 10 years of development, we are thrilled to bring our hydrogen technology back to Columbus where it all started. Building the XP-1 allowed us to test and refine our fuel cell technology, allowing us to create the most advanced green hydrogen fuel cell stack for a number of different applications. With its ability to store mass quantities of electric energy, hydrogen has tremendous long-term, zero-emission potential for the energy sector, and will be one of the most powerful tools in reducing carbon emissions on a global scale,” said Angelo Kafantaris, CEO of of Hyperion.

Hyperion chose to revitalize the former Columbus Dispatch building  because the layout and operations of the highly advanced roll-to-roll printing hub mirror those of a high-yield fuel cell membrane coating process. Hyperion expects to begin production in 2023.

Green hydrogen is a rapidly growing sector garnering serious investor interest. An Ernst & Young report detailing transactions in power and utilities (P&U) for Q3 2021 noted significant investments in hydrogen technologies. According to the report, gas utilities are increasingly betting on hydrogen to help them transition to clean energy companies.