Funding puts GeoPura on course to accelerate green hydrogen expansion

GeoPura has completed a £56m investment round to expand green hydrogen production capacity, grow a specialist workforce in the UK, and increase the deployment of power generation technology.

HS2 Ltd/GeoPura

The UK Infrastructure Bank (UKIB) committed £30m to the round, followed by investment from Barclays Sustainable Impact Capital and supported by existing investors that include GM Ventures, SWEN Capital Partners, and Siemens Energy Ventures.

Notts-based GeoPura said the financing will allow for an increase in the manufacture and supply of their Hydrogen Power Units (HPUs) in Newcastle, which replace traditional diesel generators and emit zero harmful emissions.

The HPUs have already been supplied to customers including the Ministry of Defence, Balfour Beatty, National Grid and the BBC.

Additionally, the investment will expand GeoPura’s production of green hydrogen, helping to transform an old coal power station site as part of the HyMarnham Power Green Hydrogen project in the East Midlands.

GeoPura said that the scaling up of green hydrogen is ‘vital’ in helping to meet net zero by reducing emissions in hard to abate sectors, such as in construction, and complement renewables by providing supplementary power to the electricity grid.

As electricity demand increases due to the proliferation of electric vehicles and other clean technologies, the company said supplementary power sources such as the HPU are ‘paramount’ to providing the capacity required, prevent gridlock and secure a sustainable energy future.

With hubs in Nottingham, Matlock, Sheffield and Newcastle upon Tyne, GeoPura is mass manufacturing HPUs in collaboration with Siemens Energy and plans to deploy a fleet of over 3,600 HPUs by 2033, which they claim will provide clean, low-cost reliable power, and displace over ten million tonnes of CO2 emissions.

In a statement, Andrew Cunningham, CEO of GeoPura, said: “Having experienced the hottest year on record in 2023 with the negative impact of extreme weather events increasing globally every month, our need to combat climate change has never been more urgent.

“Now, more than ever, we need to act and provide industry with proven and effective solutions to achieve their Net Zero goals as well as allowing them to reduce their liability for destroying air quality with particulates, NOx and other harmful emissions from traditional generators. 

“The challenge of replacing the estimated $300bn installed base of highly polluting diesel generators over the next ten years is significant and requires the scale and commitment that investors such as UKIB and our existing highly supportive shareholders and partners provide.

“We’re delighted to be taking this next step and it’s brilliant to be working together to make a real, tangible impact today by reducing filthy engine emissions, providing better air quality for us all.”