GeoPura has secured a £27m green loan facility to expand its hydrogen-powered energy services in the UK and establish a new Danish hub for electrolyser support.
The financing package has been jointly structured by Barclays and the Export and Investment Fund of Denmark (EIFO). The package is financed by Barclays and includes a £16.5m guarantee by EIFO.
As part of the deal, EIFO has provided its first international Power-to-X guarantee, expanding its UK clean energy footprint.
The green loan facility will be used for HyMarnham Power (pictured), GeoPura’s joint venture with JG Pears, which will produce low-carbon hydrogen at scale. The project is advancing under the UK Government’s Hydrogen Allocation Round 1 (HAR1) support scheme.
GeoPura’s new HyMarnham Power project is set to become the first hydrogen facility backed by HAR1 to reach commercial operation later this year. The site, located at a former coal-fired power station in the East Midlands, is being transformed into a clean hydrogen hub supplying low-carbon hydrogen for GeoPura’s zero-emission power units, among other applications.
GeoPura is expanding into Europe with the launch of GeoPura (Europe) Limited in Denmark. The company said the establishment of a Danish hub, enabled through EIFO’s guarantee, will play a central role in supporting this expansion by securing electrolyser capacity and building delivery capability across the continent.
GeoPura chief executive and founder Andrew Cunningham said: “We’re very pleased to have EIFO and Barclays as financing partners for this milestone transaction. In fact, without this kind of proactive cooperation that enables the funding of debt finance it’s difficult to see how clean energy transition at scale happens.
“Their support enables us to further accelerate the green transition, helping industries decarbonise and provide the clean, life-enhancing environment we want to continue to enjoy.”
EIFO’s chief commercial officer Peter Boeskov said: “This transaction shows that green hydrogen becomes reality when the right frameworks are in place.
“The UK has been our single largest market for years thanks to our involvement in offshore wind, and we now see a clear opportunity to expand our role into green hydrogen. And into onshore wind, in fact, following the UK Government’s onshore wind strategy.
“GeoPura’s solutions are a strong example of how UK-Danish cooperation can accelerate the green transition, while creating high-value jobs and industrial growth in both countries.”
Daniel Hanna, group head of sustainable and transition finance at Barclays, said: “We are pleased to support GeoPura’s pioneering green hydrogen solutions together with EIFO. The UK’s ambition on hydrogen is clear, and with HyMarnham becoming the first project under HAR1, we see this as an important step forward for the energy transition. Collaborating with EIFO allows us to bring even more scale and confidence to the sector.”
HyMarnham Power is scheduled to be fully operational by the end of November 2025.