GeoPura, a pioneering green hydrogen company based in Nottinghamshire, has announced a substantial funding round of £56M (approximately €65.6M). The UK Infrastructure Bank has committed £30M to the round, which was further supported by a follow-on investment from Barclays Sustainable Impact Capital and contributions from existing investors including GM Ventures, SWEN Capital Partners, and Siemens Energy Ventures.
The funding will enable GeoPura to expand its production of green hydrogen, playing a key role in transforming an old coal power station site as part of the HyMarnham Power Green Hydrogen project in the East Midlands. This initiative comes one year after GeoPura raised £36M, marking significant progress in its mission to decarbonize global economies.
Advertisement
Pioneering Renewable Energy Solutions
Founded in 2019, GeoPura aims to shift global economies away from fossil fuels by harnessing renewable energy sources. The company’s technology uses solar PV or wind to create hydrogen and hydrogen-based zero-emission fuels, which are then transported to locations where local generators convert them to electrical power.
Addressing Climate Change Urgency
CEO Andrew Cunningham emphasized the urgency of combating climate change, highlighted by the hottest year on record in 2023 and the increasing impact of extreme weather events globally. GeoPura’s solutions aim to provide the industry with effective tools to achieve Net Zero goals and reduce air quality degradation caused by traditional generators.
Building a Sustainable Future
GeoPura’s collaboration with Siemens Energy to mass manufacture Hydrogen Power Units (HPUs) aims to deploy a fleet of over 3,600 HPUs by 2033, providing clean, low-cost, and reliable power. John Flint, CEO of the UK Infrastructure Bank, highlighted the investment as a step towards solving investment barriers in the hydrogen sector, a critical market on the route to net zero.
James Ferrier, Director at Barclays Sustainable Impact Capital, praised GeoPura’s innovative solutions for decarbonizing the UK economy, emphasizing the importance of scaling new climate technologies to cut emissions.
With this funding, the company is set to accelerate the UK’s adoption of green hydrogen, addressing both supply and demand challenges while building the workforce of the future. This investment underscores the commitment of GeoPura and its partners to creating a sustainable platform for financing additional green hydrogen projects, contributing to the global effort to combat climate change.
