TLDR:
- GeoPura, a UK-based green-energy company, raised £56M in funding.
- The funding will be used to expand production capacity, grow the workforce, and increase deployment of power generation technology.
GeoPura, a Wysall, UK-based green-energy company, has closed a successful £56M funding round. The funding was raised with participation from The UK Infrastructure Bank, Barclays Sustainable Impact Capital, and existing investors GM Ventures, SWEN Capital Partners, and Siemens Energy Ventures. The company, led by CEO Andrew Cunningham, plans to use the funds to expand production capacity, grow the specialist workforce in the UK, and increase the deployment of its power generation technology.
GeoPura’s power generation technology solution uses renewable energy, such as solar PV or wind, to create hydrogen and hydrogen-based zero emission fuels. These fuels are then transported to locations where a local generator converts them to electrical power. The process is clean and carbon-free, with the only by-product being pure water.
The financing will directly contribute to an increase in the manufacture and supply of GeoPura’s Hydrogen Power Units (HPUs) in Newcastle. These HPUs replace traditional diesel generators and emit zero harmful emissions. The company has already supplied HPUs to high-profile customers including the Ministry of Defence, Balfour Beatty, National Grid, and the BBC.
Overall, this funding round positions GeoPura to continue its efforts in providing sustainable energy solutions and making strides towards a greener future.
