GeoPura, a Wysall, UK-based green-energy company, raised £56M in funding.
The round saw participation from The UK Infrastructure Bank, Barclays Sustainable Impact Capital and existing investors GM Ventures, SWEN Capital Partners, and Siemens Energy Ventures.
The company intends to use the funds to expand production capacity, grow the specialist workforce in the UK, and increase the deployment of its power generation technology.
Led by CEO Andrew Cunningham, GeoPura provides a power generation technology solution that uses renewable energy, normally solar PV or wind, to create hydrogen and hydrogen based zero emission fuels. This fuel is then transported to locations where a local generator converts it to electrical power. From start to finish the process is clean and carbon free – the only by-product is pure water.
The financing will directly increase the manufacture and supply of GeoPura’s Hydrogen Power Units (HPUs) in Newcastle, which replace traditional diesel generators and emit zero harmful emissions. The HPUs have already been supplied to a wide range of high-profile customers including the Ministry of Defence, Balfour Beatty, National Grid and the BBC.
FinSMEs
03/03/2024