UK green hydrogen company, GeoPura, has received £36 million investment from global industry leaders – with the round led by GM Ventures, the investment arm of General Motors, and co-led by Barclays Sustainable Impact Capital with participation from SWEN CP and Siemens Energy Ventures – to scale its green hydrogen business, which is replacing diesel-fuelled generators and enabling zero-emissions energy across the board to create a more sustainable world.
The world-renowned investors will also act as strategic partners for GeoPura as it scales its hydrogen power generation technology.
GeoPura currently provides hydrogen power to Balfour Beatty, HS2, National Grid and the BBC, among other sustainability-driven customers, replacing traditional diesel generators with its Hydrogen Power Unit (HPU) technology.
The HPUs are used for temporary, supplementary, off-grid and back-up power. GeoPura plans to grow the use of hydrogen into other hard-to-decarbonise areas of our energy system, such as EV charging and supplementary grid power, as economies continue to electrify.
With hubs in Nottingham and Newcastle upon Tyne in the UK, the £36 million investment will enable GeoPura to mass manufacture HPUs alongside partner Siemens Energy, increase the production of green hydrogen to fuel the units, and drive green skills in the North East and throughout the UK, while supporting the global deployment of the technology.
GeoPura plans to deploy a fleet of over 3600 HPUs by 2033, providing clean, low-cost reliable power, and displacing more than 6 million t of carbon dioxide (CO2) emissions through their operation over their life.
In response to customer demand, the company aims to bring a number of new products to market, addressing smaller and larger power requirements. The company will work closely with its new strategic partners to advance the technology needed to enable the mass electrification that underpins decarbonisation.
Green hydrogen is widely recognised as essential to achieving global climate goals, potentially supplying 25% of energy demand by 2050, with a US$10 trillion addressable market, according to Goldman Sachs.
The UK government has set its own target to hit 10 GW of low-carbon hydrogen capacity this decade. However, there remain limited commercial technologies able to capitalise on this demand. GeoPura set out to prove green hydrogen as a commercially viable solution, today, to replace existing fossil fuels.
Established to decarbonise global economies using zero-emission fuels, GeoPura has grown rapidly since delivering its first HPU in collaboration with Siemens Energy in 2019. GeoPura’s HPU technology and end-to-end service is a multi-purpose replacement for diesel power worldwide, and is available today. GeoPura generates hydrogen and transports the fuel to customers for use in its HPUs – customers simply rent the units and pay for the fuel used.
The company is initially targeting sectors with the highest diesel use today, such as construction, infrastructure, outdoor events, and back-up power. It is also providing a solution to power commercial EV charging, where the local electricity network is not capable. The only byproduct is pure water and heat.