Seeing participation from SWEN CP and Siemens Energy Ventures, the raised funds will be used to scale GeoPura’s business in replacing diesel-fuelled generators with green hydrogen-powered alternatives.
H2 View understands the investors will also act as strategic partners for GeoPura as it scales its hydrogen power generation technology.
With hubs in Nottingham and Newcastle upon Tyne, the £36m investment is hoped to enable GeoPura to mass manufacturer its Hydrogen Power Units (HPUs) alongside Siemens Energy, increase green hydrogen production to fuel the units, and drive green skills in the North Eat and throughout the UK.
The company plans to deploy a fleet of over 3,600 HPUs by 2033, providing clean power, adding the units could displace more than six million tonnes of carbon dioxide emissions though their operation over their life.
GeoPura’s HPUs have already seen a wide range of UK deployments, powering construction sites, gas plants, and TV sets alike.
In 2021, GeoPura powered an entire episode of BBC Studios Natural History Unit’s Winterwatch with its 250kW HPU, offering continuous, uninterrupted, emissions free, critical power to the broadcast unit.
Read more: BBC completes broadcast powered by green hydrogen in the UK
“The world can’t afford to wait a decade for green fuels to scale – we must act now,” said Andrew Cunningham, CEO of GeoPura. “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.”
Cunningham said the new investors will not only provide the funds to scale, 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,” he added.
Wade Sheffer, Managing Director of GM Ventures, said, “Our investment in GeoPura demonstrates our focus on scaling breakthrough innovations that can advance sustainability, while supporting GM’s progress toward an all-electric, zero-emissions future. GeoPura’s HPUs and GM’s HYDROTEC fuel cell expertise have the potential to provide better energy solutions across industries.”
Read more: General Motors expands fuel cell business with new applications
James Ferrier, Director, Principal Investments at Barclays Sustainable Impact Capital, commented, “Whilst most of the focus in the UK is rightly on ‘greening’ our energy grid, industries which are reliant on fossil-fuel powered generators – such as construction, film production and events – should not be forgotten.
“Establishing tailored methods of off-grid green energy generation such as GeoPura’s HPU technology will be crucial for the decarbonisation of these industries, and we are excited to support GeoPura as they begin to scale.”
François Pasquier, Investment Director at SWEN CP, added, “SWEN CO, through its impact strategy dedicated to renewable gas infrastructures in Europe, is proud to support the growth of GeoPura and to enable carbon emissions reductions in hard-to-abate sectors.”
“Having worked alongside GeoPura from the early days, it has been incredible to see the development of this business as more customers turn to utilizing green hydrogen for their sustainable energy needs and commitments,” said Kendra Rauchenberger, General Partner at Siemens Energy Ventures. “Our strategic investment, alongside the investments from all partners, make GeoPura ready for its next phase of rapid growth. We look forward to being part of the journey.”
A Successful Ecosystem for Green Hydrogen – London
It is becoming ever clearer that the entire green hydrogen ecosystem requires alignment. Hydrogen’s potential, performance, and safety are proven. Green hydrogen is widely accepted as a core pathway to Net Zero, yet the key levers in the transition are not yet in-sync.
At H2 View we recognise the increasingly challenging economic climate that various countries/economies are currently facing. We want to help as many companies as possible in the hydrogen space to achieve their needs as competitively and logically as possible. As a result, we felt it was a compelling decision to relocate our previously planned event in Iceland, to a venue in London.
Join H2 View in London, one of the foremost investment capitals of the world, for a 1.5-day event devoted to thought leadership, insights, and actionable takeaways in the green hydrogen ecosystem, combined with the connections and networking to deliver against those objectives.
This H2 View hydrogen summit is dedicated to dissecting the ecosystem requirements to truly realise a green hydrogen-fuelled future across industries, transport, and society. This event will tackle all sides of the energy ecosystem, from wind and solar power requirements to additionality, water sustainability, electrolyser technologies, and investment and policy climate.
You can find more information at h2-viewevents.com.