GeoPura has raised £22 million to drive forward the expansion of its hydrogen generator fleet, paving the way for global deployment.
GeoPura has completed its inaugural debt funding round which represents the first major asset-backed debt funding announcement for a green hydrogen business in the UK. With this, it says it has set a “significant precedent” in the green hydrogen sector.
It has now raised £114 million over the last two years with the debt funding round following a £56 million investment round in February 2024 and £36 million Series A funding round in February 2023.
In this latest round, debt funding has been secured from the likes of BNP Paribas Leasing Solutions, Close Brothers Asset Finance, HSBC UK and Siemens Financial Services, with these funds set to be used to recapitalise and fund GeoPura’s growing fleet of Hydrogen Power Units, as well as key supporting infrastructure, including tube trailers.
Derek Bulmer, GeoPura CFO, 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 £2.5 billion in capital over the next decade. This funding will not only accelerate our expansion but also drive significant reductions in carbon emissions and improve local air quality while contributing directly to the UK’s net zero targets.”
