GeoPura, a UK-based clean power solutions provider, has raised £22 million (USD $29.3 million) in its first debt financing round to support the manufacturing and deployment of over 3,600 hydrogen power units (HPUs) by 2033. The financing marks the first major asset-backed debt funding announcement by a green hydrogen company in the UK, according to GeoPura. The funding was provided by a consortium of financial institutions, including BNP Paribas Leasing Solutions, Close Brothers Asset Finance, HSBC UK, and Siemens Financial Services. GeoPura, founded in 2019, specializes in delivering clean hydrogen-based energy to a variety of sectors, particularly for temporary sites, long-term backup, off-grid power, and as a supplement to existing grids.
The company produces hydrogen fuel using renewable energy, which is then transported to different locations where the HPUs convert it into off-grid electricity. These HPUs were developed in collaboration with Siemens Energy and are designed to displace fossil fuel-based power sources, contributing significantly to emissions reduction. The new funding will help GeoPura advance its ambitious plans to deploy a fleet of 3,600 HPUs, a project that is expected to require over £2.5 billion in total capital investment over the next decade. The company estimates that the HPUs will displace more than 10 million tons of CO2 emissions throughout their operational life. Derek Bulmer, CFO of GeoPura, emphasized the importance of this milestone in accelerating the company’s expansion and its role in helping the UK meet its net-zero targets. GeoPura’s HPUs have already been used in a variety of applications, such as outdoor festivals, sporting events, construction sites, and even powering the live TV broadcast of the DP World Golf Tour. The units have also delivered an electric car deal for the British Ministry of Defense and the closure of a Uniper power plant. This debt financing follows previous investments in the company, including a £56m investment round in early 2024 and a £36m Series A investment round in 2023 , bringing all the capital raised by GeoPura in the past two years to It delivers pounds . 114 million Rachael Manuhiri, global relationship manager at HSBC UK, expressed the bank’s commitment to support climate technology projects such as GeoPura and emphasized the importance of green hydrogen technology to meet the needs the future of the UK.