Scaling up Hydrogen power and green hydrogen energy usage

GeoPura, a UK green hydrogen pioneer, has received a £36m investment from a group of global industry leaders, including GM Ventures, Barclays Sustainable Impact Capital, SWEN CP, and Siemens Energy Ventures. This investment will enable GeoPura to scale its hydrogen power generation technology, manufacture its Hydrogen Power Units (HPUs) in large numbers, and increase the production of green hydrogen to fuel them. With the help of its new strategic partners, the company plans to deploy a fleet of over 3,600 HPUs by 2033, providing clean, low-cost reliable power, and displacing more than six million tonnes of CO2 emissions over their life. GeoPura's HPUs replace traditional diesel generators with zero-emission alternatives, and are used for temporary, supplementary, off-grid, and backup power. The company's HPUs are currently used by several sustainability-driven customers, such as Balfour Beatty, HS2, National Grid, and the BBC. With the new investment, GeoPura aims to expand the use of hydrogen into other hard-to-decarbonise areas of our energy system, such as EV charging and supplementary grid power. GeoPura plans to work closely with its new strategic partners to advance the technology needed to enable the mass electrification that underpins decarbonisation. 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 achieve global climate goals. The UK government has set its own target to hit 10GW of low carbon hydrogen capacity this decade.

Andrew Cunningham, CEO of GeoPura, said, "Green hydrogen is too often seen as a technology that will happen in the future, but GeoPura and our partners are delivering a commercially viable technology, today. The world can’t afford to wait a decade for green fuels to scale – we must act now. This investment allows us to build on our installed base of HPUs and hydrogen production infrastructure to stimulate the green hydrogen economy, and then expand the use of clean fuels into other hard-to-decarbonise areas of our energy system. We have secured the right mix of investors, forming strategic partnerships that not only provide the funds to enable us to scale rapidly, but also the skills and resources to accelerate the transition to zero emission fuels. With the support of our investors, we can help turn the market on its head and build a green hydrogen economy this decade, not next."