GeoPura, a New Castle upon Tyne, UK-based company which specializes in zero emission power, raised GBP22M in debt funding.
Backers included Siemens Energy, General Motors Ventures, Barclays Sustainable Impact Capital, Swen Capital Partners, and the UK Infrastructure Bank.
The company intends to use the funds to help facilitate the manufacture and deployment of over 3,600 hydrogen power units (HPUs) by 2033.
GeoPura is focused on the transition to a green hydrogen economy through HPU technology that harnesses green hydrogen to provide zero-emission electricity, replacing diesel generators and decarbonising customers in off-grid and grid augmentation situations.
it is initially targeting sectors such as construction, film and TV, infrastructure, and outdoor events also providing a solution to empower commercial EV charging, where the local electricity network alone isn’t sufficient without additional support.
With hubs in Sheffield, Matlock, Nottingham and Newcastle upon Tyne in the UK, GeoPura is mass manufacturing HPUs in collaboration with partner Siemens Energy, bringing more generators to market to service customer demand. To support this growth, it increased headcount by over 50% in 2023, including its first hydrogen apprentices. The company is also investing in green hydrogen production facilities to fuel these units, including HyMarnham Power in the East Midlands, one of only 11 projects to be allocated funding as part of the UK Government’s HAR1 allocation round.
FinSMEs
30/09/2024