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 supplied through its three production sites, including a 50% ownership interest in UK-based HyMarnham Power.