Significant sale of data and studies

RNS Number : 5537D

GETECH Group plc

30 June 2021

 

Getech Group plc

("Getech" or the "Company")

Significant sale of data and studies

Getech, a provider of geoscience data, software and analytic products and services to the energy industry, is pleased to announce a significant sale of its geoscience data and a regional study package, with a value of US$536,000, which is expected to be fully recognised in the current financial year.

Getech continues to trade in line with current market expectations for FY2021.

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

"As energy prices have recovered across H1 2021, we have seen a progressive reopening of the geoscience data market as energy companies resume their exploration and development activities.

Getech's geoscience data, which includes gravity and magnetic data that we have gathered over decades, are a unique and proprietary resource that underpin our knowledge and analytic products and services. Our geoscience and geospatial experts help energy companies use this data to make informed decisions about the location and optimal development of natural resources.

To support our customers' energy transition objectives, our staff are engaged in a process of continuous development to increase the analytical and knowledge functions for low-carbon industries including geothermal, hydrogen, carbon capture and storage, and strategic minerals.

We expect increased demand for our geoscience data, software and analytic products as both existing energy and natural resource customers and new customers work to decarbonise the energy sector."

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 / Ollie Head / Toby Strong	Tel: [phone]

Notes to editors:

Getech (AIM: GTC) has a well-established position within the global energy market, assisting clients with its unique combination of products and services, that utilise the Group's sub-surface skills and geospatial design and implementation capabilities alongside a deep knowledge and understanding of how to deploy data.

The Company is leveraging its strong market position, utilising its existing expertise, and targeting additional commercial opportunities, to de-risk and accelerate the global transition to renewable sources of energy while strengthening its existing and well-established business.

Getech is listed on the AIM market of the London Stock Exchange. For further information, please visit www.getech.com

 

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