Clean energy provider GeoPura broadcasted today that they have raised USD$70 million in an investment round intended to accelerate the implementation of green hydrogen in the United Kingdom, with prolonged production and amplified deployment of the corporation’s power generation technology.
Initiated in 2019, GeoPura supplies clean energy to operators that need power at provisional sites, off-grid power, long-term backup, and energy supply to enhance existing grids. The corporation delivers Hydrogen Power Units (HPU), established in collaboration with Siemens Energy, assembled on industrial hydrogen fuel compartments.
Andrew Cunningham, Chief executive officer of GeoPura, stated that the challenge of swapping the projected 300billion US dollar installed base of extremely polluting diesel producers over the next 10 years is substantial and needs the scale and assurance that stakeholders such as UKIB and their current extremely supportive shareholders and associates provide. They are extremely delighted to be taking this subsequent step and it’s brilliant to work together to make a factual, tangible impact today by dropping filthy engine releases, providing improved air quality for all of us.
The investment round comprised a £30 million obligation by the state-owned, net zero-focused United Kingdom Infrastructure Bank, controlled by a follow-on venture from Barclays Sustainable Influence Capital and maintained by existing investors together with SWEN Capital Partners, GM Ventures, and Siemens Energy Ventures.
Over the past year, GeoPura said it has protected numerous new clients, prolonged its reach into Europe, and launched innovative Hydrogen Power Units-based goods to support its portfolio, meeting buyer requirements for more mobile power results.
Scaling innovative climate technologies – like GeoPura’s Hydrogen Power Units – will be serious in decarbonizing the United Kingdom economy, as segments with no current viable substitutes to fossil fuels look to our home-grown tycoons for advanced solutions to assist them cut emissions.
GeoPura said it strategies to organize a fleet of over 3,600 Hydrogen Power Units by 2033, providing fresh, low-cost consistent power, relocating more than ten million loads of Carbon dioxide discharges through their procedure over their life.