Newcastle upon Tyne, UK based GeoPura, said to specialize in zero-emission power, has obtained £22m in debt funds. Siemens Energy, GM Ventures, Barclays Sustainable Impact Capital, Swen Capital Partners, and the UK Infrastructure Bank were also backstops to the round.
Use of Funds
The funds will be directed towards the organization of the mass production and distribution of more than 3,600 of the HPUs by 2033. GeoPura utilizes green hydrogen in its HPUs, replacing the conventional diesel generators which emit greenhouse gases. This solution provides methods for decarbonizing off-grid power requirements, grid reinforcement, and commercial EV charging where regional electric grid networks may require additional capacity.
Focus Areas Of GeoPura
Initially, GeoPura will be focusing on the large industries which are involved in construction, films and television shows, infrastructure and outdoor events as the need for clean energy products is relatively high in such sectors.
Growth and Collaboration Of GeoPura
GeoPura has operational hubs in Sheffield, Matlock, Nottingham, and Newcastle upon Tyne and is ramping up the output of its HPU LiDARs in tandem with Siemens Energy to address market demand. In 2023, the company expanded its employee base by more than 50% and took on its first hydrogen apprentices. Furthermore, GeoPura is also involved in developing plants for the generation of green hydrogen such as the HyMarnham Power under the UK Government’s HAR1 allocation round of funding comprising of 11 projects.
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