GeoPura's Groundbreaking Debt Funding for Green Hydrogen Revolution in the UK
Key Ideas
- GeoPura secures £22 million in debt funding to expand its fleet of Hydrogen Power Units (HPUs) and support infrastructure.
- The funding comes from a consortium including BNP Paribas Leasing Solutions, Close Brothers Asset Finance, HSBC UK, and Siemens Financial Services.
- GeoPura aims to deploy over 3,600 HPUs by 2033, contributing significantly to carbon emissions reduction and the UK's net zero targets.
- The investment supports GeoPura's commitment to a cleaner future and highlights the importance of sustainable finance in achieving environmental goals.
GeoPura, a leader in zero-emission power, has successfully closed a landmark debt funding round in the UK, raising £22 million to propel the expansion of its hydrogen generator fleet and global deployment. This achievement marks the first major asset-backed debt funding announcement for a green hydrogen company in the UK, setting a significant precedent in the sector. The funds, provided by a consortium of financial institutions including BNP Paribas Leasing Solutions, Close Brothers Asset Finance, HSBC UK, and Siemens Financial Services, will support GeoPura in manufacturing and deploying over 3,600 Hydrogen Power Units (HPUs) by 2033.
The debt funding consists of fixed-rate asset loans and hire purchase agreements, showcasing strong interest from funding partners in supporting GeoPura's scaling efforts. This milestone aligns with GeoPura's vision to build a global fleet of HPUs and contributes to reducing carbon emissions, improving air quality, and aiding the UK in achieving its net zero targets. Key figures from the financial partners emphasized the importance of supporting innovative solutions like GeoPura's hydrogen generators in driving the transition to a low-carbon economy and investing in a sustainable future.
GeoPura's technology offers zero-emission electricity by utilizing green hydrogen, replacing diesel generators in off-grid and grid augmentation scenarios. The company's efforts in manufacturing HPUs in collaboration with Siemens Energy, expanding its workforce, and investing in green hydrogen production facilities solidify its position as a frontrunner in the UK's green hydrogen economy. The successful deployment of HPUs in various high-profile settings underscores their reliability and efficiency in providing large-scale power while producing water as the only byproduct. GeoPura's commitment to innovation and sustainability, supported by significant funding, marks a positive step towards a cleaner, greener future in the UK's energy landscape.
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