GETECH Group plc Getech expands senior team
08 September 2022 - 4:01PM
RNS Non-Regulatory
TIDMGTC
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 .
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