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Hydrogen production specialists receive £56m investment

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Hydrogen production specialists Geopura have announced the completion of a £56 million investment round that will help expand the company’s production capacity and accelerate the UK’s adoption of green hydrogen.

The financing comes  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, the company plans to 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 in construction and our industrial heartlands, and complement renewables by providing supplementary power to the electricity grid.

As electricity demand increases supplementary power sources are essential 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, planning to deploy a fleet of over 3,600 HPUs by 2033, providing clean, low-cost reliable power, and displacing an estimated ten million tonnes of CO2 emissions through their operational lifetime.

Andrew Cunningham, CEO of GeoPura, 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 their Net Zero goals as well as allowing them to reduce their liability for destroying air quality with particulates, NOx and other harmful emissions from traditional generators.

“The challenge of replacing the estimated 300billion US dollar 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’re delighted to be taking this next step and it’s brilliant to be working together to make a real, tangible impact today by reducing filthy engine emissions, providing better air quality for us all.”

John Flint, CEO at UK Infrastructure Bank, one of the principle investors, 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.”

More information on the company and its’ Hydrogen Production Units can be found here.

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