REG - GETECH Group plc - New geospatial services contract

GetechAnnouncement

28/06/2022 07:00

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RNS Number : 3751Q  GETECH Group plc  28 June 2022

28 June 2022

Getech plc

("Getech" or the "Company")

New geospatial services contract significantly expands order book

Getech, a geoenergy and green hydrogen company, is pleased to report that it
has signed a 5-year extension to a multi-faceted geospatial services contract
with a customer of its transitional petroleum division. The new contract has a
total value of £1.65 million.

Services provided by Getech will include the design, implementation and
management of geospatial operating systems that are essential for aboveground
safety, environmental protection, and security on a large and complex asset.

Adjusting the end-2021 order book position for contracts that have since
converted to revenue in H1 2022, this new contract delivers significant growth
in the value of Getech's current total order book - adding material recurring
revenue over the next five years.

 

Getech's Chief Executive Officer, Dr Jonathan Copus, commented:

"As the world works to deliver a sustainable and secure path to
decarbonisation, it is essential that transitional petroleum activities are
conducted to the highest ESG standards. The 5-year extension of this
geospatial contract will see Getech continuing to contribute to the safe,
efficient, and environmentally responsible delivery of an internationally
important piece of energy infrastructure.

Our industry-leading geospatial products and skills help our customers
integrate, visualise, and analyse key business data, which they use to improve
operational efficiency, derive new insight, and enhance decision making. These
benefits are valuable across the energy transition.

In our target growth markets of critical minerals, storage, geothermal, and
hydrogen, we are using this expertise to build our sales pipeline and to
locate, develop and operate our own portfolio of low carbon assets.

With the investment in natural resource supply diversification a global
priority, we consider Getech to be well positioned to deliver transformational
growth for our shareholders."

 

For further information, please contact:

 

 Getech 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 (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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