We have advised GeoPura, UK's green hydrogen pioneer, on its £36 million Series A funding round to scale its green hydrogen power generation technology. The investment round was supported by GM Ventures, Barclays Sustainable Impact Capital, SWEN CP through its fund SWEN Impact Fund for Transition 2, and Siemens Energy Ventures.
GeoPura was founded to help source enough clean energy to electrify the global economy and navigate the logistical issues of getting this energy to where it is needed. The GeoPura solution uses renewable energy, normally solar PV or wind, to create hydrogen and hydrogen based zero emission fuels. This fuel is then transported to locations where a local generator converts it to electrical power.
The investment round enables GeoPura to mass manufacture Hydrogen Power Units 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.
The investment round was 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. The investors will also act as strategic partners and work closely with GeoPura to advance the technology needed to enable the mass electrification that underpins decarbonisation.
Corporate Technology Partner at Taylor Wessing, Howard Palmer said: "GeoPura is at the forefront of commercialising green hydrogen as a viable solution to providing clean energy, which is exceptionally important to the future of energy supply. This funding round enables the company to continue the acceleration of decarbonising economies with its innovative technology and we look forward to seeing it reach its next level of achievement."
GeoPura's CEO, Andrew Cunningham said: "With this funding we can expand our capacity for growth and support our mission to push the commercialisation of green hydrogen forward. Taylor Wessing was the best firm to support us on this transaction. Howard and the rest of the team understood what truly mattered to us. They guided us through the entire transaction and provided the insightful legal advice we needed at each stage, demonstrating their dedication to supporting the company's best interest."
The team was led by corporate technology partner Howard Palmer. Further support was provided by:
Corporate Technology
Associates Emily Townsend, Loye Oyedotun and Ellie Goonetillake
Tax and Incentives
Partners Ann Casey and Liz Wilson and senior associate Katie Lewis
Employment, Pensions and Mobility
Partner Helen Farr and associate Oscar Hodgson
