GeoPura will expand its production of green hydrogen, helping to transform an old coal power station as part of the HyMarnham Power Green Hydrogen project in the East Midlands.
The scaling up of green hydrogen is vital in helping to meet net zero by reducing emissions in hard to abate sectors, the developer said. These include construction in the UK’s industrial heartlands, and complementing renewables by providing supplementary power to the electricity grid, it added.
The UK-based green hydrogen pioneer has completed a £56m investment round that will help accelerate the UK’s adoption of green hydrogen by expanding production capacity it said.
The UK Infrastructure Bank committed £30m to the round, led by a follow-on investment from Barclays Sustainable Impact Capital and supported by GeoPura’s existing investors: GM Ventures, SWEN Capital Partners, and Siemens Energy Ventures.
The financing will directly increase the manufacture and supply of GeoPura’s Hydrogen Power Units (HPUs) at its Newcastle-based facility, which replace traditional diesel generators and emit zero harmful emissions.
The HPUs have already been successfully supplied to a wide range of high-profile customers including the Ministry of Defence, Balfour Beatty, National Grid and the BBC.
GeoPura chief executive Andrew Cunningham said: “Having experienced the hottest year on record in 2023 with the negative impact of extreme weather events increasing globally every month, our need to combat climate change has never been more urgent.
“Now, more than ever, we need to act and provide industry with proven and effective solutions to achieve its net zero goals as well as allowing it to reduce its liability for destroying air quality with particulates, NOx and other harmful emissions from traditional generators.
“The challenge of replacing the estimated US$300bn installed base of highly polluting diesel generators over the next 10 years is significant and requires the scale and commitment that investors such as UKIB and our existing highly supportive shareholders and partners provide.
“We are delighted to be taking this next step and it is brilliant to be working together to make a real, tangible impact today by reducing filthy engine emissions, providing better air quality for us all.”