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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Getech Group Plc | LSE:GTC | London | Ordinary Share | GB00B0HZVP95 | ORD 0.25P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 9.125 | 8.75 | 9.50 | 9.125 | 9.125 | 9.125 | 54,240 | 08:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Oil And Gas Field Expl Svcs | 5.07M | -2.83M | -0.0419 | -2.18 | 6.15M |
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 .
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August 04, 2022 02:00 ET (06:00 GMT)
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