RCS - GETECH Group plc - Getech expands senior team

GetechAnnouncement

08/09/2022 07:00

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RNS Number : 6899Y  GETECH Group plc  08 September 2022

8 September 2022

Getech Group plc

("Getech" or the "Company")

Getech expands senior team to support development of hydrogen business

Getech, the geoenergy and green hydrogen company, continues to build its
hydrogen business following the acquisition of H2Green in 2021, with the
appointment of Kathrin Schulz as the Group's European Hydrogen Business
Development Director.

Based in Berlin, Ms Schulz will be working to further support Getech's
ambition to establish over 500MW of new geoenergy and green hydrogen assets by
2030 and progress the Company's growth in new areas of Europe.

Implementing the Company's strategy for locating, developing and operating
energy resources that accelerate the path to net zero, Getech is developing a
network of green hydrogen hubs, co-located with wind and solar, to decarbonise
transport and industrial sectors.

An update on Getech's current hydrogen development activities will be included
in the Company's interim results released later in September.

Getech CEO, Dr Jonathan Copus, commented:

"This is an exciting time for Getech, as we expand our team with the focus to
develop a more resilient energy system and accelerate the pathway to net zero.
Green hydrogen can provide clean power for transportation and industrial
sectors that are hard to electrify, as well as energy storage to overcome
intermittency and balance supply with demand. Against a backdrop of heightened
energy supply uncertainty and price volatility, hydrogen can also play a
pivotal role in improving energy security.

Kathrin's appointment adds to our increasing presence in continental Europe,
which is a natural home for our hydrogen production strategy. Hydrogen is a
key part of carbon-reduction plans across Europe - at regional, national and
EU level. The EU hydrogen strategy (July 2020) set green hydrogen as a top
priority - with an objective to install at least 40GW of renewable hydrogen
electrolysers by 2030 with production of up to 10 million tonnes of renewable
hydrogen in the EU. This focus was further strengthened in response to
Russia's invasion of Ukraine, with RePowerEU (May 2022) adding a target of 10
million tonnes of renewable hydrogen imports by 2030. In support of these
initiatives the European Commission has to date approved EUR 5.4 billion of
public support under its 'Important Projects of Common European Interest'
scheme, and is working to develop hydrogen import corridors, via the
Mediterranean and the North Sea, and promoting green hydrogen partnerships.

Within continental Europe, Germany is one of the most attractive areas to
invest in hydrogen. As Europe's largest energy consumer, with a thriving heavy
industry and mobility sector, Germany considers hydrogen a significant lever
to achieve its climate goals. Its ambitious national hydrogen strategy targets
10GW of hydrogen production capacity by 2030. To deliver this, Germany has
launched a number of support programmes, and steps to accelerate planning and
permitting for power and hydrogen grids. Germany also plans to import
significant volumes of green hydrogen and has awarded a grant of EUR 900
million to H2Global, a public-private platform designed to support investments
for the production of renewable hydrogen in countries outside the EU.

We welcome Kathrin to our team, and we look forward to leveraging her wealth
of knowledge of European energy markets and specialist hydrogen expertise -
skills that are fundamental to our ability to replicate, scale up and
diversify our green hydrogen portfolio, both in the UK and internationally."

 

Ms Schulz added:

"Green hydrogen has huge potential as the world looks to new clean energy
sources to speed up decarbonisation of the industry and mobility sectors.
Getech is making great strides in bringing forward innovative hydrogen
developments that can be scaled at pace, so it's an exciting time for me to
join the business as energy needs continue to rapidly evolve."

Kathrin Schulz biography:

 

Following a diploma in business administration, Ms Schulz worked for over a
decade at Accenture's Global Strategy Consulting & M&A practice. She
then held senior positions in German energy companies such as ENGIE subsidiary
Storengy and Marubeni Energie for more than 10 years, setting up the renewable
energy businesses which included the development of hydrogen projects.

 

 

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 (http://www.getech.com) .

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