GETECH Group plc

14 December 2022

RNS Reach

14 December 2022

Getech Group plc

("Getech" or the "Company")

Milestone achieved at green hydrogen hub in Inverness

Getech (AIM: GTC), the geoenergy and green hydrogen company, is pleased to announce the completion of the first step in developing the Inverness green hydrogen hub. Working with SGN Commercial Services, phase one has seen the successful deconstruction of Inverness' former gas holder, paving the way to convert a legacy natural gas holder site into a future green hydrogen storage and distribution facility.

The site forms an important element of Getech's broader hydrogen network development for the Scottish Highlands. Situated alongside Inverness' rail head, it is ideally positioned to supply clean fuel to the hydrogen trains that will operate in this region.

The completion of phase one represents an encouraging step in the process to develop a multi-hub green hydrogen network, with Inverness at its core. Through revitalising this legacy gasworks as a green hydrogen hub, the site can maintain its significance to energy storage and distribution in a net zero future. This asset will kick start the decarbonisation of rail across the Scottish Highlands by providing a facility specifically designed to service hydrogen train fleets in the centre of the Scottish Highlands.

Your browser does not support HTML5 video.

The time-lapse video of the gas holder deconstruction is available here: https://getech.com/media/

Dr Jonathan Copus, Getech CEO, commented:

"The completion of demolition of the SGN gas holder site demonstrates tangible progress in our hydrogen operations in Inverness and forms part of a range of broader strategic initiatives being undertaken by Getech to achieve the production, storage and supply of green hydrogen - supporting our ambition to establish at least 500MW of new geoenergy and green hydrogen assets by 2030. Hydrogen has a critical role to play in the clean energy transition and we continue work closely with stakeholders, including The Highland Council, to establish a network of green hydrogen hubs across the Scottish Highlands."

Marcus Hunt, Director, SGN Commercial Services, said:

"This is an important milestone in transforming the site of our old gas holder to create a hydrogen supply and distribution hub, which will play a key role in decarbonising transport across the Highlands and wider Scottish economy. It will not only help reduce carbon emissions but will deliver jobs and skills opportunities in the local area. We look forward to working with the Scottish Government to help build the regulatory and policy frameworks that will support the build out of the hydrogen economy at pace across Scotland."

Dr Nigel Holmes, Chief Executive Officer of the Scottish Hydrogen and Fuel Cell Association, said:

"This project in Inverness is a pioneering example of the hydrogen economy's potential to help decarbonise a number of sectors across Scotland. It builds on a number of Scotland's existing success stories, from the expanding hydrogen bus fleet in Aberdeen to the world-first H100 Fife project in Levenmouth, that will be delivering green hydrogen for up to 300 customers next year. With an abundance of renewable potential across the country, there is a fantastic opportunity to generate even more hydrogen and put Scotland on a clear path to reach net zero by 2045."

For further information, please contact:

 Getech Group plc                                  Tel: 0113 322 2200 
  Dr Jonathan Copus, Chief Executive 
 Cenkos Securities plc                             Tel: 0207 397 8900 
  Neil McDonald / Pete Lynch (Corporate Finance) 
  Michael Johnson / Dale Bellis (Sales) 
   Camarco                                           Tel: 020 3757 4991 
   Tom Huddart / 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

SGN Commercial Services is part of the SGN group, who own and operate the gas distribution networks in the south of England, across Scotland and in the west of Northern Ireland. The Group provides a wide-range of specialist and gas-related professional services, operating throughout the UK. SGN's safety-first culture provides bespoke commercial services and green gas solutions to the Group's clients, allowing them to better meet their business needs today and in the future.

For more information, visit: www.sgncommercialservices.co.uk

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. 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.

Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word "Reach" in the source column of the News Explorer pages of London Stock Exchange's website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.

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) Dow Jones Newswires

December 14, 2022 02:00 ET (07:00 GMT)

Getech (LSE:GTC)
Historical Stock Chart
From Mar 2023 to Mar 2023 Click Here for more Getech Charts.
Getech (LSE:GTC)
Historical Stock Chart
From Mar 2022 to Mar 2023 Click Here for more Getech Charts.