Scaling up Hydrogen power generation

GeoPura, a UK-based company specializing in green hydrogen, has secured a £36m investment from a consortium of prominent industry leaders including GM Ventures, Barclays Sustainable Impact Capital, SWEN CP, and Siemens Energy Ventures. The infusion of funds will enable GeoPura to scale up its hydrogen power generation technology, increase the production of green hydrogen, and manufacture its Hydrogen Power Units (HPUs) in larger quantities. With the support of its strategic partners, GeoPura intends to deploy more than 3,600 HPUs by 2033 to provide clean, low-cost and reliable power, displacing more than six million tonnes of CO2 emissions over their lifetime.

GeoPura's HPUs, which replace traditional diesel generators with zero-emission alternatives, are currently used by leading sustainability-driven UK customers such as Balfour Beatty, HS2, National Grid, and the BBC. With the new investment, the company aims to expand the use of hydrogen in other hard-to-decarbonize areas such as EV charging and supplementary grid power. GeoPura will collaborate closely with its new strategic partners to advance the technology required to underpin the mass electrification necessary for decarbonization. According to Goldman Sachs, green hydrogen has a $10tn addressable market and could potentially supply 25% of energy demand by 2050, making it essential to achieving global climate goals. The UK government has set a target of achieving 10GW of low carbon hydrogen capacity by 2030.

Andrew Cunningham, CEO of GeoPura, emphasized that the company's green hydrogen technology is commercially viable today and that the world cannot afford to wait a decade for green fuels to scale. With the right mix of investors, GeoPura has formed strategic partnerships that provide the funds, skills, and resources necessary to accelerate the transition to zero-emission fuels. The company plans to build a green hydrogen economy this decade, with the support of its investors, by stimulating the green hydrogen economy and expanding the use of clean fuels into other hard-to-decarbonize areas of the energy system.