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22 Feb 2024

UK Infrastructure Bank backs UK’s green hydrogen expansion with £30 million Geopura investment

UK Infrastructure Bank Stand: B74
The UK Infrastructure Bank has committed £30million to support the expansion of UK-based green hydrogen pioneer, GeoPura, helping to accelerate the UK’s adoption of green hydrogen.

The transaction will facilitate the expansion of GeoPura’s production capacity, help to grow the specialist workforce in the UK and increase the deployment of its power generation technology.

The Bank’s commitment is part of Geopura’s latest £56 million financing 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.  

In addition, GeoPura will expand its production of green hydrogen, helping to transform an old coal power station site 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 – such as construction – and complements renewables by providing supplementary power to the electricity grid. 

GeoPura’s HPU technology exemplifies how the transition to sustainable energy can be accelerated, even in the face of grid challenges. As electricity demand increases due to the proliferation of electric vehicles and other clean technologies, supplementary power sources such as the HPU are paramount to provide the capacity required, prevent gridlock and secure a sustainable energy future.

With hubs in Nottingham, Matlock, Sheffield and Newcastle upon Tyne in the UK, GeoPura is mass manufacturing HPUs in collaboration with partner Siemens Energy and plans to deploy a fleet of over 3,600 HPUs by 2033, providing clean, low-cost reliable power, displacing more than ten million tonnes of CO2 emissions through their operation over their life*.

John Flint, CEO at UK Infrastructure Bank, said:  

"Our investment in GeoPura is another example of our problem solving in action. By removing barriers to investment in the hydrogen sector – a critical nascent market on the route to net zero - we are creating a sustainable platform from which to finance additional green hydrogen projects in the near future.” 

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