UK green hydrogen outfit GeoPura has received £36m investment from global industry leaders.
The round was 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.
The 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 backup 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 £36m investment will enable GeoPura to mass manufacture HPUs alongside partner Siemens Energy.
It will also allow it to 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 3,600 HPUs by 2033, providing clean, low-cost reliable power, and displacing more than six million tonnes of 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.
GeoPura chief executive Andrew Cunningham said: “Green hydrogen is too often seen as a technology that will happen in the future, but GeoPura and our partners are delivering a commercially viable technology, today.
“The world can’t afford to wait a decade for green fuels to scale – we must act now.
“This investment allows us to build on our installed base of HPUs and hydrogen production infrastructure to stimulate the green hydrogen economy, and then expand the use of clean fuels into other hard-to-decarbonise areas of our energy system.
“We have secured the right mix of investors, forming strategic partnerships that not only provide the funds to enable us to scale rapidly, but also the skills and resources to accelerate the transition to zero emission fuels.
“With the support of our investors we can help turn the market on its head and build a green hydrogen economy this decade, not next.”