GETECH Group plc New geospatial services contract (3751Q)
June 28 2022 - 2:00AM
UK Regulatory
TIDMGTC
RNS Number : 3751Q
GETECH Group plc
28 June 2022
28 June 2022
Getech plc
("Getech" or the "Company")
New geospatial services contract significantly expands order
book
Getech, a geoenergy and green hydrogen company, is pleased to
report that it has signed a 5-year extension to a multi-faceted
geospatial services contract with a customer of its transitional
petroleum division. The new contract has a total value of GBP1.65
million.
Services provided by Getech will include the design,
implementation and management of geospatial operating systems that
are essential for aboveground safety, environmental protection, and
security on a large and complex asset.
Adjusting the end-2021 order book position for contracts that
have since converted to revenue in H1 2022, this new contract
delivers significant growth in the value of Getech's current total
order book - adding material recurring revenue over the next five
years.
Getech's Chief Executive Officer, Dr Jonathan Copus,
commented:
"As the world works to deliver a sustainable and secure path to
decarbonisation, it is essential that transitional petroleum
activities are conducted to the highest ESG standards. The 5-year
extension of this geospatial contract will see Getech continuing to
contribute to the safe, efficient, and environmentally responsible
delivery of an internationally important piece of energy
infrastructure.
Our industry-leading geospatial products and skills help our
customers integrate, visualise, and analyse key business data,
which they use to improve operational efficiency, derive new
insight, and enhance decision making. These benefits are valuable
across the energy transition.
In our target growth markets of critical minerals, storage,
geothermal, and hydrogen, we are using this expertise to build our
sales pipeline and to locate, develop and operate our own portfolio
of low carbon assets.
With the investment in natural resource supply diversification a
global priority, we consider Getech to be well positioned to
deliver transformational growth for our shareholders."
For further information, please contact:
Getech 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 (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
CNTPPUBUQUPPPUM
(END) Dow Jones Newswires
June 28, 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