GeoPura Closes £22M Debt Funding Round

UK-based hydrogen tech specialist GeoPura has landed £22 million in fresh funding to fuel the expansion of its green hydrogen power units (HPUs).

This latest deal follows their £56 million raise in February, bringing their total funding to an impressive £114 million over the last two years.

Clearly, hydrogen is having its moment, especially with all the recent buzz around the UK government's hydrogen initiatives.

The funding, secured from a mix of bank and non-bank institutions like HSBC UK and BNP Paribas, will be used to grow GeoPura's fleet of HPUs. The company has big ambitions—over 3,600 HPUs globally within the next decade, which will need around £2.5 billion.

No small feat, but the momentum is real. GeoPura’s hubs in cities like Sheffield and Newcastle are already operational, and they’ve even expanded their team by more than 50% this year.

The company has also started investing in green hydrogen production, with their HyMarnham Power facility being one of the 11 projects funded under the UK government’s first hydrogen allocation round (HAR1).

GeoPura’s CEO, Julian Hobbs, with an estimated net worth of £12 million, is optimistic about the future. He says this funding is a "pivotal milestone" for the company’s growth and will drive the shift away from diesel generators.

Derek Bulmer, CFO at GeoPura said:

"Securing this debt funding is a pivotal milestone in our journey to build a global fleet of over 3,600 HPUs, which will require over £2.5bn in capital over the next decade,"

The company’s key clients, like the BBC and National Grid, are already using GeoPura’s HPUs to cut their carbon footprints.

With the UK aiming to stay at the forefront of green hydrogen projects in Europe, this funding feels like a step in the right direction.

And hey, with hydrogen looking like a serious contender in the race to net zero, it seems we’re not just blowing hot air here—GeoPura is making waves!

It’s an exciting time for hydrogen tech, and if all goes well, GeoPura could be a big player in how we power the future.