Firm eyes future growth despite wider losses

HYDROGEN power firm GePura says it has secured a group of customers that present “major opportunities for scaleup and growth”.

- TOM KEIGHLEY

It comes as the business - which aims to replace diesel generators with its green hydrogen power units (HPUs) - reported widening losses.

GeoPura is manufacturing the HPUs alongside partner Siemens Energy, at its Newcastle base, and providing the engineering support behind the clean power source. The business has landed more than £100m investment over the past three years, including the backing of Siemens Energy itself.

Now, writing in accounts covering the year to the end of March, directors point to success in winning new customers and says the outlook is good for its green energy market as many companies’ work towards 2030 net zero targets. But the 115-strong firm saw operating losses widen to £14.3m from £9.7m as turnover remained broadly flat at £7.2m. Pretax losses more than doubled from £10.5m to £22.5m.

The firm said: “Turnover is consistent with the prior year, with underlying revenue from HPU deployment sales up 105%, offset by a fall in project revenue due to delays in the delivery of a hydrogen production project from FY25 into FY26.