GeoPura Hydrogen Power Unit (HPU) deployed at an HS2 construction site in London
- UK company GeoPura secures £36m investment from GM Ventures, Barclays Sustainable Impact Capital, SWEN CP through its fund SWEN Impact Fund for Transition 2 and Siemens Energy Ventures
- Investment will enable the accelerated manufacturing and deployment of Hydrogen Power Units throughout the UK
- GeoPura will scale its green hydrogen business, replacing fossil fuels with zero emission alternatives in power generation applications such as construction, infrastructure, outdoor events, EV charging and back-up power
UK green hydrogen pioneer GeoPura has received £36m investment from global industry leaders, with the round led by GM Ventures, the investment arm of General Motors, and co-led by Barclays Sustainable Impact Capital with participation from SWEN CP and Siemens Energy Ventures to scale its green hydrogen business, which is replacing diesel-fuelled generators and enabling zero-emissions energy across the board to create a more sustainable world.
The world-renowned investors will also act as strategic partners for GeoPura as it scales its hydrogen power generation technology.
GeoPura currently provides hydrogen power to Balfour Beatty, HS2, National Grid and the BBC among other sustainability-driven customers, replacing traditional diesel generators with its Hydrogen Power Unit (HPU) technology.
The HPUs are used for temporary, supplementary, off grid and backup power. GeoPura plans to grow the use of hydrogen into other hard-to-decarbonise areas of our energy system, such as EV charging and supplementary grid power, as economies continue to electrify.
With hubs in Nottingham and Newcastle upon Tyne in the UK, the £36m investment will enable GeoPura to mass manufacture HPUs alongside partner Siemens Energy, increase the production of green hydrogen to fuel the units and drive green skills in the North East and throughout the UK, while supporting the global deployment of the technology.
GeoPura plans to deploy a fleet of over 3,600 HPUs by 2033, providing clean, low-cost reliable power, and displacing more than six million tonnes of CO2 emissions through their operation over their life.
In response to customer demand, the company aims to bring a number of new products to market, addressing smaller and larger power requirements. The company will work closely with its new strategic partners to advance the technology needed to enable the mass electrification that underpins decarbonisation.
Andrew Cunningham, CEO of GeoPura, said: “Green hydrogen is too often seen as a technology that will happen in the future, but GeoPura and our partners are delivering a commercially viable technology, today. The world can’t afford to wait a decade for green fuels to scale – we must act now.
“This investment allows us to build on our installed base of HPUs and hydrogen production infrastructure to stimulate the green hydrogen economy, and then expand the use of clean fuels into other hard-to-decarbonise areas of our energy system.
“We have secured the right mix of investors, forming strategic partnerships that not only provide the funds to enable us to scale rapidly, but also the skills and resources to accelerate the transition to zero emission fuels. With the support of our investors we can help turn the market on its head and build a green hydrogen economy this decade, not next.”
“The need for green hydrogen energy solutions is expanding as a wide range of customers move toward replacing diesel-powered sources,” said Wade Sheffer, Managing Director, GM Ventures. “Our investment in GeoPura demonstrates our focus on scaling breakthrough innovations that can advance sustainability, while supporting GM’s progress toward an all-electric, zero-emissions future. GeoPura’s HPUs and GM’s HYDROTEC fuel cell expertise have the potential to provide better energy solutions across industries.”
James Ferrier, Director, Principal Investments, Barclays Sustainable Impact Capital said: “Building low-carbon capacity and capability in our energy supply is key for a timely transition to net-zero. Whilst most of the focus in the UK is rightly on ‘greening’ our energy grid, industries which are reliant on fossil-fuel powered generators – such as construction, film production and events – should not be forgotten. Establishing tailored methods of off-grid green energy generation such as GeoPura’s Hydrogen Power Unit technology will be crucial for the decarbonisation of these industries, and we are excited to support GeoPura as they begin to scale.”
François Pasquier, Investment Director at SWEN CP, said: “SWEN CP, through its impact strategy dedicated to renewable gas infrastructures in Europe, is proud to support the growth of GeoPura and to enable carbon emission reductions in hard to abate sectors. We believe that the quality of the team, the robustness of the technology and the strategic partnership with Siemens Energy are the perfect ingredients to make GeoPura a successful solution to tackle climate change.”
Kendra Rauschenberger, General Partner at Siemens Energy Ventures, said: “Having worked alongside GeoPura from the early days, it has been incredible to see the development of this business as more customers turn to utilizing green hydrogen for their sustainable energy needs and commitments. At Siemens Energy Ventures, our focus is on building, investing in and scaling up start-ups that can make a real difference to the complex energy transition our world is facing. Our strategic investment, alongside the investments from all partners, make GeoPura ready for its next phase of rapid growth. We look forward to being part of the journey.”
Green hydrogen is widely recognised as essential to achieve global climate goals, potentially supplying 25% of energy demand by 2050, with a $10tn addressable market, according to Goldman Sachs[1].
The UK government has set its own target to hit 10GW of low carbon hydrogen capacity this decade. However, there remain limited commercial technologies able to capitalise on this demand. GeoPura set out to prove green hydrogen as a commercially viable solution, today, to replace existing fossil fuels.
Established to decarbonise global economies using zero-emission fuels, GeoPura has grown rapidly since delivering its first Hydrogen Power Unit (HPU) in collaboration with Siemens Energy in 2019. GeoPura’s HPU technology and end-to-end service is a multi-purpose replacement for diesel power worldwide and is available today. GeoPura generates hydrogen and transports the fuel to customers for use in its HPUs – customers simply rent the units and pay for the fuel used.
The company is initially targeting sectors with the highest diesel use today, such as construction, infrastructure, outdoor events, and back-up power. It is also providing a solution to power commercial EV charging, where the local electricity network isn’t capable. The only by-product is pure water and heat.
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* Over the life of an HPU it is expected to avoid emissions of 1,800 tonnes of CO2 at point of use when compared to a diesel generator. Taken in aggregate, the c.3,600 units GeoPura expect to have commissioned by FYE32 have the potential to displace c.6.4m tonnes of CO2 emissions over their useful life.
Data source: Portable Emission Measurement System (PEMS)Testing of a 100KVA generator using Red Diesel and ISO grade Diesel, KCL, assuming 25% load with red diesel (https://clec.uk/projects/llecp-case-studies/portable-emission-measurement-system-pems-testing-100kva-generator-using)
[1] Source: https://www.goldmansachs.com/insights/pages/gs-research/carbonomics-the-clean-hydrogen-revolution/carbonomics-the-clean-hydrogen-revolution.pdf
Case studies
HS2
An HS2 construction site in London has held successful trials for two zero-emissions hydrogen fuel cell-based electricity generators – cutting carbon and improving air quality for workers and the local community. Full case study here.
BBC
In a TV first, GeoPura powered each of the 12 live Springwatch broadcasts over the course of the show’s three-week run from May 25 to June 11 with 100% clean energy. Full case study here.
Polestar
GeoPura, alongside its partner Siemens Energy, installed a fuel cell system in the grounds of the Villa Cora, Florence, to produce renewable energy to charge the Polestar 1 electric car. The villa doesn’t have the spare electrical network capacity required to power a bank of rapid EV chargers, so the HPU provided the clean power to do just that. Full case study here.
Goodwood Festival of Speed
GeoPura showcased its world-first Hydrogen Fuel cell technology at the Goodwood Festival of Speed. The company supported the festival’s Technology Partner Siemens to deliver a ‘clean’ hydrogen fuel cell system to charge a section of the festival including the Electric Vehicles in the First Glance Paddock. Full case study here.
National Highways / Balfour Beatty
The National Highway’s A63 Castle Street improvement scheme in Hull energised Balfour Beatty’s first ever green hydrogen power unit (HPU), which has replaced the 100 kVA diesel generator powering site welfare and office accommodation. The GeoPura HPU will save 59,000 litres of diesel, and 164 tonnes of operational carbon emissions. Full case study here.
Notes to editors
About GeoPura
GeoPura supplies clean energy to users that require power at temporary sites, long-term backup, off-grid power, and energy supply to augment existing grids. The power is provided by leasing GeoPura’s proprietary Hydrogen Power Unit, developed in collaboration with Siemens Energy and network of hydrogen production sites. GeoPura’s customers comprise a mix of short and long duration bookings across construction, TV & film, and festivals & events, including BBC and HS2, among others.
Hydrogen Power Unit
The GeoPura HPU is built on industrial hydrogen fuel cells, and provides 250kW electrical output, 80kW thermal power and 216kWh battery storage – equivalent to 80 homes. Packaged within a standard 20ft shipping container, a GeoPura HPU and a supply of hydrogen can be delivered to almost any site that requires off grid, temporary, supplementary or back up power, providing easy access to zero-emissions electricity.
The HPU can be configured to deliver combined heat and power (CHP), providing hot water and heating on-site. It can also integrate highspeed EV charging to enable electric site vehicles to be charged and used on site.
Whereas a typical 250kVA diesel generator would emit 960g of CO2 per kWh, as well as 932.5g of NOx/HC, and 327.5g of CO per hour of operation; the HPU emits zero pollutants. The only emission is pure water and the unit emits far less noise pollution.
About Siemens Energy
Siemens Energy is one of the world’s leading energy technology companies. The company works with its customers and partners on energy systems for the future, thus supporting the transition to a more sustainable world. With its portfolio of products, solutions and services, Siemens Energy covers almost the entire energy value chain – from power generation and transmission to storage. The portfolio includes conventional and renewable energy technology, such as gas and steam turbines, hybrid power plants operated with hydrogen, and power generators and transformers. More than 50 percent of the portfolio has already been decarbonized. A majority stake in the listed company Siemens Gamesa Renewable Energy (SGRE) makes Siemens Energy a global market leader for renewable energies. An estimated one-sixth of the electricity generated worldwide is based on technologies from Siemens Energy. Siemens Energy employs around 92,000 people worldwide in more than 90 countries and generated revenue of €29 billion in fiscal year 2022. www.siemens-energy.com.
About Barclays Sustainable Impact Capital
As part of the firm’s broader commitments, Barclays will invest £500m of its own capital, led by the Principal Investments team, in fast-growing, innovative, environmentally-focused companies whose values are aligned with those of Barclays and which target the goals and timelines of the Paris Agreement. These investments are strategic to Barclays, its clients and the communities it serves, with clear scalable propositions that deliver both environmental benefits and economic returns. To find out more, click here.
For further information, please contact us at:
Investment Enquiries: PITeamInbox@barclays.com
Media Enquiries: Hannah.Pierce@barclays.com
About General Motors
General Motors (NYSE:GM) is a global company focused on advancing an all-electric future that is inclusive and accessible to all. At the heart of this strategy is the Ultium battery platform, which will power everything from mass-market to high-performance vehicles. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet, Buick, GMC, Cadillac, Baojun and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, can be found at https://www.gm.com.
