Ballard Power Buying U.K.-Based Hydrogen Power Company GeoPura
The deal adds hydrogen production, logistics and stationary power, and GeoPura expects 2026 revenue of about £38 million, the company said.
- On Tuesday, June 23, 2026, Ballard Power Systems Inc. announced a definitive agreement to acquire U.K.-based GeoPura Ltd. for an enterprise value of about $400 million, combining hydrogen production with fuel cell technology.
- Ballard chief executive Marty Neese called it a "transformative" acquisition establishing the company as an energy-as-a-service provider, shifting toward recurring, high-margin revenues while expanding into stationary power markets beyond transportation.
- The deal involves an upfront payment of about $515 million, funded through cash and 50.8 million Ballard shares, granting GeoPura shareholders approximately 14.4 per cent ownership of the combined company.
- GeoPura founder and chief executive Andrew Cunningham will join Ballard as president, reporting to Neese, positioning the firm to serve data centres, healthcare, and defence sectors through existing customer relationships with Microsoft and Netflix.
- The acquisition aims to unlock $25 million in annual EBITDA synergies while reinforcing Ballard's path to profitability by 2028, positioning the firm to capture growing global demand for zero-emission hydrogen power solutions.
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Ballard Power Systems Inc. to acquire U.K.-based GeoPura Limited
GeoPura CEO Andrew Cunningham (left) and CTO Theo Elmer (right) in front of an HPU-2 500kW system containing Ballard Fuel Cell Engines. (CNW Group/Ballard Power Systems Inc.) Ballard Power Systems Inc. announced on June 23 it has entered into a definitive agreement to acquire GeoPura Limited, a provider of zero-emission hydrogen-based power solutions. The transaction includes an upfront equity purchase price of £275 million, funded through cash…
The Toronto Star
Ballard Power buying U.K.-based hydrogen power company GeoPura
VANCOUVER - Ballard Power Systems Inc. has signed a deal to buy U.K.-based GeoPura Ltd. in an agreement valued at about US$400 million including cash, shares and assumed debt.
PR Newswire
BALLARD ANNOUNCES ACQUISITION OF UK-BASED GEOPURA, POWERING FUTURE GROWTH AND TRANSFORMING BALLARD INTO AN INTEGRATED HYDROGEN ECOSYSTEM PROVIDER
Transformative acquisition of a rapidly growing market leader of large-scale zero-emission hydrogen-based stationary power solutions Expands Ballard's business...
Newcastle EnviroTech GeoPura bought in £300m+ deal
Newcastle EnviroTech GeoPura has been bought in a deal potentially worth more than £300 million. Ballard Power Systems, a hydrogen fuel cell technology firm listed on New York’s Nasdaq exchange, has agreed an up-front payment of £275m for the zero-emission hydrogen-based power solutions provider. Founded in 2019, GeoPura has built a rapidly growing business focused on developing, leasing and selling Hydrogen Power Units and hydrogen fuel supplie…
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