REG - GETECH Group plc - Major Globe Platform Subscription Renewal

GetechAnnouncement

29/05/2025 07:00

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RNS Number : 4733K  GETECH Group plc  29 May 2025

29 May 2025

 

 

Getech Group plc

("Getech" or the "Company")

Major Globe Platform Subscription Renewal

Getech, a world-leading locator of subsurface resources, is pleased to
announce that it has successfully closed a significant Globe platform
subscription renewal with a US-based energy super-major. The renewal contract
has a total value of $945,000 to be recognised over 3-years.

The successful completion of these negotiations reflects the continued demand
for our solutions from energy leaders and the importance they attach to our
ability to provide data and analytics in support of their exploration
programmes.

Chris Jepps, CEO of Getech, commented:

"Globe enhances resource exploration activities by providing a computer-based
model, or 'digital twin', of Earth's geologic development and history. Our
customers use this model to help locate potential zones for new resource
discovery, and Globe's most recent releases have offered even greater value to
its user-base with enhanced data layers and analytical tools.

We are delighted that a long-standing key customer has renewed its
subscription to the Globe platform for another three years, reaffirming the
value that our flagship product brings to its business. This renewal extends
their relationship with Getech as a Globe user to over fourteen years,
supports our annual recurring revenue (ARR) and replenishes our order book.
Furthermore, it highlights how global geopolitical dynamics and energy supply
challenges continue to drive investment in oil and gas exploration - a core
market for Getech."

 

For further information, please contact:

 Getech Group plc

 Chris Jepps, CEO                                 Tel:  0113 322 2200
 Michael Covington, Chairman

 Cavendish Capital Markets Limited

 Neil McDonald / Pete Lynch (Corporate Finance)   Tel:  0207 397 8900

 Michael Johnson / Dale Bellis (Sales)

 Novella Communications                           Tel: 0203 151 7008
 Tim Robertson / Safia Colebrook
 getech@novella-comms.com

Notes to Editors:

About Getech

Getech is a leading locator of subsurface resources essential for the world's
energy security and sustainable transition. The Company combines unique
geoscience expertise, AI-driven analytics, and extensive geospatial insight to
identify new energy and mineral resources and streamline exploration
processes. Serving clients across corporates, government and regulators in a
wide range of industries, Getech is committed to enabling energy and mineral
security while supporting a shift towards low carbon sources.

 

 

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