GeoPura Reports Increased Losses but Secures Growth Opportunities in Green Hydrogen Market

GeoPura, a hydrogen power company, is focusing on growth despite reporting widened losses of £14.3 million for the year ending March, up from £9.7 million. The company, which aims to replace diesel generators with green hydrogen power units (HPUs), has secured over £100 million in investments over three years, including support from Siemens Energy.

Turnover remained flat at £7.2 million, with a 105% increase in underlying revenue from HPU deployment sales, despite project revenue declines due to delays. GeoPura aims to grow its fleet of HPUs to 3,500 by 2035, targeting construction and industrial sectors.

The joint venture with JG Pear, HyMarnham Power, is set to participate in the UK's first Hydrogen Allocation Round for funding low carbon hydrogen schemes. Financial backing includes a recent £27 million buyers credit facility and an additional £27 million from convertible loan notes, alongside £7.2 million in asset-backed debt.