REG - GETECH Group plc - Three Contract Wins

GetechAnnouncement

17/07/2023 07:00

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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
£0.8 million over the next three years, of which £381k relates to the
current financial year. These contracts represent significant additions to the
Group's existing orderbook, which now stands at £4.2 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)

 Novella Communications                             Tel: 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 (http://www.getech.com/)
.

 

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