Getech Share Discussion Threads

[32campomar] 23/1/2023 07:46

It does illustrate how this is so undervalued with a market cap of a ludicrous 9 million - they have more than 4 million in cash, Kitson house under offer which should fetch 2.5 million plus a record order book.

[hastings] 23/1/2023 07:19

Very good update, with the record order book and positive momentum continuing in historic business, whilst discussions advancing with strategic investors on the Hydrogen side.

[battlebus2] 23/1/2023 07:17

Very detailed update this morning. Double digit revenue increase which is ahead. Cash still a very healthy +£4 mm Strong orders and pipeline. Seems there’s various areas we can tap into. Kitsson house under offer. Shoreham capacity from 800 kg/day to 2.5 tonne/day due to bigger local demand and extended its commercial exclusivity to 2027.
To accelerate value creation and reduce Getech's direct costs in establishing green hydrogen transportation hubs, the Company is advancing discussions with strategic investment partners and progressing significant grant funding opportunities.

[32campomar] 23/1/2023 07:11

A very positive update. Good to see Kitson house finally under offer too!

[yump] 21/1/2023 12:03

H2 Green was incorporated in 2020, with 1 share, belonging to Luke Johnson.

Last accounts to Dec 2022 showed zero revenue and £500K costs.

So was this just a potential SPV with a decent name ?

Nice if you can sell nothing much for £250K. I may be wrong but I’ve seen nothing to suggest where the value was.

Perhaps it was a “sweetenerR21; in return for very low initial salaries as part of GTC. Positively he has a few shares in GTC, as part of the initial consideration. About £200K worth at the time of issue.

[yump] 21/1/2023 11:52

I also found details about the payment terms for the £1mln GTC might pay for H2 Green (including the initial £250,000), but have lost the link.

Not sure the detail has been RNS’d.

From memory there is an amount if H2Green achieves £250K ebitda. There is also a chunk when H2Green gets full commercial funding for a project.

Seeing as H2 Green is part of GTC, I would expect the specific achievements of H2Green and NOT GTC overall to affect these payments.

Quite how that will be reported remains to be seen.

Having researched Johnson, I am still left wondering exactly what assets H2Green had.

Was it just that they or LJ had useful contacts? Nothing was mentioned.

[yump] 21/1/2023 11:44

Always nice to find out what impressive people have done so I did a bit of digging:

Searched for Cognitive Geology (his co until 2018, although appears to be dissolved now:

Also this which shows a biggish shell contract in 2018:


I wonder where that went.

[battlebus2] 21/1/2023 10:41

Yes Luke certainly has the get up and go attitude.

[hastings] 21/1/2023 10:30

To be fair, the Hydrogen angle has always been portrayed as a long term play in terms of scaling up and potential returns. Personally, not expecting much really concrete news and tangible progress for a number of years. But then, I didn't buy in for that, rather the core business and the valuation that was then being attributed to it.Happy enough to see how things pan out, but disappointed nothing has come of Kitson House.

[bookbroker] 21/1/2023 10:22

May be, but so far his contribution to the valuation of GTC is immaterial.

[32campomar] 21/1/2023 10:11

Luke Johnson is very impressive

[playful] 21/1/2023 09:47

Worth a listen…

On the Interchange this week, David is joined by Luke Johnson, Managing Director and Founder of H2 Green. They’re a UK based company aiming to build green hydrogen production hubs across Europe, to produce and deliver hydrogen where needed. Luke is a serial entrepreneur with experience in energy and technology, across Australian, US, German and UK markets.

[bookbroker] 20/1/2023 17:37

The guy is a bright cookie, Oxbridge and all that, just not sure why he chose to end up at GTC. Got a good CV., likely had a choice of various roles. One wonders whether he has slightly taken his foot off the gas here!

[workingfromhome] 20/1/2023 12:17

This is a very exciting proposition but it's clear that the BOD are not driving the business forward enough. Make no mistake, Hydrogen is a huge opportunity. But I have seen it many times in my career, directors in their comfort zone on very good salaries and not really answerable to anyone. The lack of director shareholding is the biggest clue to the overall attitude of the board and things have to change

[bookbroker] 20/1/2023 11:02

Local councils the most strapped for cash, they need to focus on their core business. That is generally by licencing and selling software services to energy companies. I suspect there are some projects in the pipeline relating to announcements last year, time will tell, but news flow is pedestrian.

[battlebus2] 20/1/2023 10:24

Pedestrian is the key word playful. We need a bit of get up and go.

[playful] 20/1/2023 10:18

It seems to me there is room to improve by being more proactive in promoting our services to local councils. Focusing on providing annual reports on flooding risks and coastal erosion to councils with dedicated climate change departments (search “council climate change”) could yield many potential opportunities for recurring revenue. This could be considered low hanging fruit in terms of increasing revenue.

Additionally, it may be beneficial to explore new and innovative ways to market our services as the current approach seems way too pedestrian and feel after 7 long years of going nowhere perhaps its time for the CEO to hand the baton to somebody else.

[battlebus2] 20/1/2023 10:11

Very true. Skin in the game shows they’re working for all shareholders. Especially when shares are at lows.

[32campomar] 20/1/2023 09:48

The Board of directors earn more than enough to buy shares at these levels. And the fact that they haven't & actually never have demonstrates to me that they don't take shareholders seriously enough.

[battlebus2] 20/1/2023 09:17

A small tick up this morning but looking the two year chart the share price is currently at lows and almost 50% down from then. Obviously the market isn’t impressed with the current leadership or their focus. Some new impetus is needed to get things moving again.

[battlebus2] 19/1/2023 21:52

The deals are out there but within the board there seems to be the appearance or lack of pushing these to something tangible for shareholders that we remain happy to invest. Most shareholders still don’t understand the business model around the hubs which is clearly a failure of management imv.

[32campomar] 19/1/2023 13:11

Totally agree.

[battlebus2] 19/1/2023 12:48

I agree we need a more proactive dynamic focused leadership.