Advising GeoPura on its £56 million investment round to accelerate UK's green hydrogen expansion

We have advised GeoPura, a UK-based green hydrogen pioneer on its £56 million investment round with backing from UK Infrastructure Bank.

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, stores and transports the fuel to customers for use in its HPUs – customers simply rent the units and pay for the fuel used.

The UK Infrastructure Bank committed £30 million to the investment round, led by a follow-on investment from Barclays Sustainable Impact Capital and supported by GeoPura’s existing investors, including GM Ventures, SWEN Capital Partners, and Siemens Energy Ventures. The financing will directly increase the manufacture and supply of GeoPura’s HPUs, a low-carbon replacement for diesel powered generators that can be used in applications such as construction, infrastructure, outdoor events, enabling the rapid roll out of reliable, high-power EV charging in locations with limited grid capacity. In addition, GeoPura will expand its production of green hydrogen, helping to transform an old coal power station site as part of the HyMarnham Power Green Hydrogen project in the East Midlands.

Commenting on the transaction, Corporate Technology Partner, Howard Palmer said: "This is the second investment round that we have supported GeoPura on, following a £36 million Series A funding 12 months ago. The investment underscores the ongoing confidence in GeoPura and the promising future potential of its technology, as well as a vote of confidence for the UK's green hydrogen industry. It is a pleasure to be working with GeoPura in its journey to supporting businesses' route to net zero and we look forward to seeing GeoPura's growth in the coming years."

CEO of GeoPura, Andrew Cunningham comments: "Now more than ever, we need to act and provide industry with proven and effective solutions to achieve their net zero goals. We are delighted to be taking this next step in replacing diesel generators and it’s brilliant that the Taylor Wessing team is again supporting us. The team's ability to support complex investments within tight deadlines is essential in order for us to operate in this fast-moving market. Their unparalleled commitment to excellent service is shown through their dedication to seeking the best outcomes for us, which is not only incredibly helpful but also deeply rooted in a thorough commercial understanding of our interests."

The deal was led by partner Howard Palmer and associate Loye Oyedotun in the Corporate Technology team. Further support was provided by partner Victoria Butcher and associate Tasha Cranmer-Brown in the Real Estate team, senior counsel Louisa Penny in the Corporate Finance, FS Regulatory and Competition team, partner Graham Samuel-Gibbon and senior associate Sally Robertson in the Tax and Incentives team.