ESG Today writes that 2019-founded GeoPura supplies temporary site operators with green power, while also providing long term back-up and off-grid power to industrial operators. The company's Hydrogen Power Units (HPU) are co-developed with Siemens Energy and are based on industrial fuel cells.

GeoPura officials stated that the 70 million USD investment will be used to accelerate the development and deployment of its HPUs, so that they can replace diesel generators in more sites around the UK, while also targeting an increase in the production of green hydrogen.

Andrew Cunningham, CEO of GeoPura, said that "the challenge of replacing the estimated 300 billion US dollar installed base of highly polluting diesel generators over the next 10 years is significant and requires the scale and commitment that investors such as UKIB and our existing highly supportive shareholders and partners provide."

Last year, GeoPura raised 36 million GBP in funding from investors such as Barclays and GM Ventures.James Ferrier, Director, Principal Investments, Barclays Sustainable Impact Capital, said that "scaling new climate technologies – like GeoPura’s HPUs – will be critical in decarbonizing the UK economy, as sectors with no existing viable alternatives to fossil fuels look to our home-grown entrepreneurs for innovative solutions to help them cut emissions."

Company officials added that, by 2033, they plan to deploy over 3,600 HPUs.