New Contract Wins with Combined Value of £1.2M

RNS Number : 1105D

GETECH Group plc

01 March 2022

 

1 March 2022

Getech Group plc

("Getech" or the "Company")

New Contract Wins with Combined Value of £1.2M

Getech, the NetZero technology provider and data-led energy asset developer, is pleased to announce that it has secured new contract wins for its geoscience data and energy software products with a combined value of c. £1.2 million.

The Company's customers use these unique products to locate, de-risk and optimise the development, and long-term economic production of subsurface projects - including oil and gas, strategic minerals, geothermal, green hydrogen and carbon capture and storage.

The contracts, which include annual and multi-year licences with new and existing customers, add to Getech's recurring revenue and orderbook.

Getech's Chief Executive Office, Dr Jonathan Copus, commented:

"We are delighted by these contract wins and that our data and energy software products are continuing to demonstrate strong demand. With Getech being in the vanguard of the energy transition, we are continuing to invest in our foundation product offering to deliver new tools and content that promote their use across an array of energy transition sectors. As the pace of progress to NetZero accelerates, we see opportunity to deliver significant growth"

For further information, please contact:

Getech Group plc Jonathan Copus, Chief Executive	Tel:  [phone]
Cenkos Securities plc Neil McDonald / Pete Lynch (Corporate Finance) Michael Johnson / Julian Morse (Sales)	Tel:  [phone]
Camarco James Crothers / Toby Strong	Tel: [phone]

Notes to editors:

Getech (AIM: GTC) helps countries and companies to manage their natural resources and energy infrastructure to assist in the delivery of a successful energy transition to a NetZero economy. We use our extensive geoscience and geospatial technology, data and skills to locate sustainable energy resources, de-risk and optimise their development, and long-term economic production. Our focus is on scalable projects that can deliver meaningful impact across industries including oil and gas, strategic minerals, geothermal, green hydrogen, and carbon capture and storage.

Getech is also using its data, technology, and skills to build its own portfolio of low-carbon assets. The Group is developing its first green hydrogen projects in Inverness and Shoreham, targeting decarbonization of the commercial transport sector across multiple green hydrogen hubs. UK commercial fleet fuel demand, which in 2019 totalled GB£12 billion, is set to fully decarbonise by 2050.

For further information, please visit  www.getech.com ,  www.h2green.co.uk

 

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