GeoPura hails 'pivotal milestone' after £22 million backing

A green energy firm says it has reached a “pivotal milestone” after £22 million support.

GeoPura is pressing ahead with plans to build “a global fleet of more than 3600 hydrogen power units” following multi-partner backing.

The apparatus harnesses green hydrogen to replace diesel generators and deliver zero-emission electricity.

The Sheffield-based company was backed by organisations including BNP Paribas Leasing Solutions, Close Brothers Asset Finance, HSBC UK and Siemens Financial Services.

The funding follows a £56 million investment round and a £36 million Series A funding round over the last two years.

Derek Bulmer, GeoPura chief financial officer, said: “This debt funding will not only accelerate our expansion but also drive significant reductions in carbon emissions and improve local air quality while contributing directly to the UK's net-zero targets.

“This milestone supports our commitment to a cleaner, healthier future and underpins the vital role of sustainable finance in advancing global environmental goals.”

Rachael Guest, HSBC UK global relationship director, added: “We are pleased to support GeoPura in advancing green hydrogen technology in the UK, which could play an important part in meeting the nation’s future energy needs.”

GeoPura, which has further hubs in Matlock, Nottingham and Newcastle, is mass manufacturing hydrogen power units in collaboration with partner Siemens Energy, and increased its headcount by more than 50 per cent in 2023 to aid its growth ambitions.

The business, which works with clients including the BBC, Balfour Beatty and National Grid, is also investing in green hydrogen production facilities to fuel the units, including HyMarnham Power, in the East Midlands.

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