GETECH Group plc $1.1m Contract Sale & Release of Globe 2022 (8530U)
04 August 2022 - 4:00PM
UK Regulatory
TIDMGTC
RNS Number : 8530U
GETECH Group plc
04 August 2022
4 August 2022
Getech Group plc
("Getech" or the "Company")
$1.1 Million Contract Sale and Release of Next Generation of
Globe Platform
Getech, the geoenergy and green hydrogen company, has signed a
$1.1 million multi-year contract with a major international energy
company for its 'Globe' platform and launched the next generation
of this innovative tool that models the Earth's evolution over the
last 400 million years.
The new Globe sale demonstrates the continued strong demand for
Getech's products. Approximately one third of this revenue will be
recognised in the current financial year, with the balance over the
subsequent two-year period. Alongside other recent contract wins,
this gives additional visibility into the longer-term sales growth
of the business.
Release of Globe 2022
Globe synthesises geoscience data into a 'digital twin' of the
Earth - modelling geologic, climatic, and oceanographic systems to
provide unique insight into the processes that locate and
concentrate energy and critical mineral resources, which are
essential to the delivery of a sustainable and secure energy
transition.
The upgraded Globe 2022 has new content and functionality to
deliver even more value for customers across transitional
petroleum, critical minerals, geothermal and Carbon Capture and
Storage (CCS) markets. Featuring a new dynamic plate model and
innovative approach to understanding sediment supply which are key
to locating critical minerals, the platform also determines optimal
CCS and geothermal locations to support global decarbonisation.
Getech's Chief Executive Officer, Dr Jonathan Copus,
commented:
"We are encouraged by the continued strong demand we see for our
products, delivering growth in revenue generation, but also
importantly providing a strong base from which we can further
explore strategic partnerships and opportunities to expand Getech's
own portfolio of low carbon assets.
The success of the global energy transition is reliant on a
diverse range of solutions facilitated by the rapid development and
application of technology and a significant increase in critical
minerals supply. Getech's Globe platform provides an excellent
example of our ability to combine decades of experience and
innovation with leading geoscience data to meet mounting market
demand. Thanks to its fundamental role in de-risking natural
resource exploration projects, Globe is optimally placed to
accelerate the pathway to net zero."
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 .
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCEAEPDEEDAEAA
(END) Dow Jones Newswires
August 04, 2022 02:00 ET (06:00 GMT)
Getech (LSE:GTC)
Historical Stock Chart
From Mar 2024 to Apr 2024
Getech (LSE:GTC)
Historical Stock Chart
From Apr 2023 to Apr 2024