Ballard Power snaps up GeoPura in £300M hydrogen energy deal

Ballard Power Systems has agreed to acquire Newcastle-based EnviroTech GeoPura in a deal valued at over £300 million. The transaction marks a significant step for Ballard as it aims to become a leading provider in the hydrogen ecosystem. Both companies have approved the agreement, with closing expected in late 2026. The total enterprise value of the acquisition stands at £301.1 million. Ballard will make an up-front payment of £275 million, with the remaining amount covered by newly issued common shares. An additional £27.5 million may be paid if GeoPura meets certain financial targets after the deal completes.

The purchase includes GeoPura’s 50% stake in HyMarnham Power and assumes its existing net debt. The transaction remains subject to standard closing conditions, including a filing under the UK National Security and Investment Act.

Andrew Cunningham, GeoPura’s founder and CEO, is set to join Ballard as its president, reporting directly to CEO Marty Neese. Lord Richard Harrington, GeoPura’s chairman, along with Cunningham, will also be nominated to Ballard’s board of directors. Ballard views the acquisition as transformative, positioning itself as a fully integrated hydrogen solutions provider. The deal is expected to finalise in the second half of 2026. Ballard will expand its hydrogen capabilities through GeoPura’s assets and leadership. The acquisition strengthens its market position in the growing hydrogen energy sector.