Green hydrogen company GeoPura has secured a £27 million ($36 million) green loan facility to expand its hydrogen-powered energy services in the UK and establish a new operational hub in Denmark.
The financing package, structured by Barclays and the Export and Investment Fund of Denmark (EIFO) and financed by Barclays, includes a £16.5 million guarantee from EIFO. The deal marks EIFO’s first international Power-to-X guarantee, signalling the fund’s broader commitment to clean energy projects outside Denmark.
The green loan will support HyMarnham Power, GeoPura’s joint venture with JG Pears, which aims to produce low-carbon hydrogen at scale. The project is being developed under the UK Government’s Hydrogen Allocation Round 1 (HAR1) scheme and is expected to be the first HAR1-backed hydrogen facility to reach commercial operation later this year. Located at a former coal-fired power station in the East Midlands, the site is being repurposed as a hydrogen production hub to supply GeoPura’s zero-emission power units and other applications.
As part of its European expansion, GeoPura has also established GeoPura (Europe) Limited in Denmark. The new hub, enabled by EIFO’s guarantee, will help secure electrolyser capacity and build delivery capability across Europe, supporting the company’s growth strategy on the continent.
Andrew Cunningham, CEO and Founder of GeoPura, said: “We’re very pleased to have EIFO and Barclays as financing partners for this milestone transaction. Without this kind of proactive cooperation that enables debt funding, it’s difficult to see how clean energy transition at scale happens. Their support enables us to further accelerate the green transition, helping industries decarbonise and provide the clean, life-enhancing environment we want to continue to enjoy.”
EIFO said the transaction reflects growing collaboration between the UK and Denmark on clean energy development. Peter Boeskov, Chief Commercial Officer at EIFO, said: “This transaction shows that green hydrogen becomes reality when the right frameworks are in place. The UK has been our single largest market for years thanks to our involvement in offshore wind, and we now see a clear opportunity to expand our role into green hydrogen—and onshore wind, following the UK Government’s new strategy. GeoPura’s solutions are a strong example of how UK-Danish cooperation can accelerate the green transition while creating high-value jobs and industrial growth in both countries.”
GeoPura develops hydrogen fuel cell power units that replace diesel generators for off-grid and high-demand applications, including construction, data centres, film and television production, and large events. Its clients include Balfour Beatty, National Grid, and the BBC. The company recently launched its next-generation HPU2 power unit to meet growing energy requirements and strengthen the UK’s hydrogen supply chain.
Barclays’ total £27 million financing package, backed by EIFO’s guarantee, underscores expanding cooperation between the UK and Denmark in large-scale clean energy financing. Daniel Hanna, Group Head of Sustainable and Transition Finance at Barclays, said: “We are pleased to support GeoPura’s pioneering green hydrogen solutions together with EIFO. The UK’s ambition on hydrogen is clear, and with HyMarnham becoming the first project under HAR1, we see this as an important step forward for the energy transition. Collaborating with EIFO allows us to bring even more scale and confidence to the sector.”
HyMarnham Power is scheduled to become fully operational by November 2025.
