GETECH Group plc $2.15m of new contracts (4376R)
July 06 2022 - 1:00AM
UK Regulatory
TIDMGTC
RNS Number : 4376R
GETECH Group plc
06 July 2022
6 July 2022
Getech Group plc
("Getech" or the "Company")
$2.15M of new contracts - underpinning revenue and driving
orderbook to record high
Getech, a geoenergy and green hydrogen company, has secured
$2.15 million of new contracts. These include geoscience data sales
and product renewals and extensions for the Group's ground-breaking
Globe knowledge base, which models the earth's evolution over the
last 400 million years.
The transactions include a $0.9 million multi-product sale to a
global critical minerals company. This is Getech's largest contract
to date in the critical minerals sector.
The products sold provide access to Getech's large and
innovative portfolio of proprietary geoscience data. The Globe
knowledge base synthesises this data into a 'digital twin' of the
Earth - modelling geologic, climatic, and oceanographic systems to
provide unique insight into the processes that locate and
concentrate energy and critical mineral resources, which are
essential to the delivery of a sustainable and secure energy
transition.
Approximately 56% of these new sales are expected to translate
to revenue in 2022. This places Getech on track with market
expectations for double digit annual revenue growth. The balance
drives Getech's orderbook, which is now at a record high, providing
a strong foundation to deliver multi-year diversified growth.
Getech's Chief Executive Officer, Dr Jonathan Copus,
commented:
"While companies and governments continue to expand their
investment in new sources of energy and minerals, today's new sales
announcement - and the record size of Getech's orderbook - provide
further evidence of how demand for our products continues to grow
in our target markets of transitional petroleum, critical minerals,
storage, geothermal and hydrogen.
In addition to driving near-term revenue, we use our products
and capabilities to help us establish strategic partnerships
through which we are building our own portfolio of low carbon
investments, with our first green hydrogen hub developments making
good progress in Inverness and Shoreham.
Getech's products and our ambition to establish at least 500MW
of geoenergy and green hydrogen assets by 2030, place us at the
heart of the energy transition and are part of the solution to the
world's energy security challenge. This positions Getech well to
deliver a step change in shareholder value."
For further information, please contact:
Getech Group plc Tel: 0113 322 2200
Dr Jonathan Copus, Chief Executive
Cenkos Securities plc
Neil McDonald / Pete Lynch (Corporate Finance)
Michael Johnson / Dale Bellis (Sales) Tel: 0207 397 8900
Camarco Tel: 020 3781 8331
James Crothers / Toby Strong / Charles Dingwall
Notes to editors:
Getech Group plc (AIM: GTC) applies its world-leading geoscience
data and unique geospatial software products to accelerate the
energy transition by locating, developing and operating geoenergy
and green hydrogen projects.
For further information, please visit www.getech.com .
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END
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