GETECH Group plc Three Contract Wins (1471G)
July 17 2023 - 1:00AM
UK Regulatory
TIDMGTC
RNS Number : 1471G
GETECH Group plc
17 July 2023
17 July 2023
Getech Group plc
("Getech" or the "Company")
Three Contract Wins
Getech (AIM: GTC), a world-leading locator of subsurface
resources , is pleased to announce the signing of three contracts
for Globe, worth together over GBP0.8 million over the next three
years, of which GBP381k relates to the current financial year.
These contracts represent significant additions to the Group's
existing orderbook, which now stands at GBP4.2 million.
Globe is Getech's proprietary digital platform of earth science
data that facilitates the exploration and location of subsurface
resources that are vital for the energy transition, including
carbon storage, geothermal, natural hydrogen and critical mineral
assets. Globe is an innovative product that collects geoscience and
earth observation data, and through proprietary computational
modelling and AI led machine learning techniques, identifies
favourable exploration opportunities for our customers.
Two of these contracts represent a one-year extension of Globe
subscriptions for our existing clients: a leading European oil and
gas supermajor and a respected global energy company. The third
contract marks the introduction of a new client into our portfolio,
securing a three-year Globe subscription for an Asian oil and gas
company.
Richard Bennett, Getech Executive Chairman, commented:
"The Company continues to service and expand its long-standing
oil and gas client base as these contracts show, enabling our
clients to search for new resources far more efficiently and by
doing so, significantly reduce their exploration costs.
Alongside this, we are also continuing to develop new income
streams from outside of the oil and gas sector. Both countries and
companies alike are investing significantly to locate and secure
high demand subsurface assets critical for the energy transition.
Globe has the data to support these new searches and we are working
with prospective clients to re-purpose our data, software and
analytics to identify critical minerals (such as copper and
lithium) and ideal locations for geothermal, hydrogen and carbon
capture and storage (CCS) projects."
For further information, please contact:
Getech Group plc
Irina Logutenkova, Head of Investor Relations Tel: 0113 322 2200
Cenkos Securities plc
Neil McDonald / Pete Lynch (Corporate Finance) Tel: 0207 397 8900
Michael Johnson / Dale Bellis (Sales)
N ovella Communications T el: 0203 151 7008
Tim Robertson / Claire de Groot / Safia Colebrook
getech@novella-comms.com
Notes to editors:
Getech is a leading locator of the essential energy and mineral
resources vital for the energy transition. Getech's unique data
encompassing the most recent 400 million years of Earth's
evolution, coupled with its geoscience expertise, AI-driven
analytics and extensive GIS capabilities, enables the company to
provide valuable and actionable insights to support resource
discovery and development.
The company's client portfolio is wide-ranging, from
governments, municipalities and energy companies to consumer goods
and computing services companies, all striving to become energy and
minerals self-sufficient and drive towards net zero.
Founded in 1994 Getech is listed on the Alternative Investment
Market of the London Stock Exchange ("AIM"), with ticker symbol
GTC.
For further information, please visit www.getech.com .
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