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.
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.
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