Getech secure US$2.15 million of new contracts

The transactions include a US$0.9 million multi-product sale to a global critical minerals company. This is Getech’s largest contract to date in the critical minerals sector.

The products sold provide access to Getech’s large and innovative portfolio of proprietary geoscience data. The Globe knowledge base synthesises this 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.

Approximately 56% of these new sales are expected to translate to revenue in 2022. This places Getech on track with market expectations for double digit annual revenue growth. The balance drives Getech’s orderbook, which is now at a record high, providing a strong foundation to deliver multi-year diversified growth.

Getech's Chief Executive Officer, Dr Jonathan Copus, commented: “While companies and governments continue to expand their investment in new sources of energy and minerals, today’s new sales announcement - and the record size of Getech’s orderbook - provide further evidence of how demand for our products continues to grow in our target markets of transitional petroleum, critical minerals, storage, geothermal and hydrogen. In addition to driving near-term revenue, we use our products and capabilities to help us establish strategic partnerships through which we are building our own portfolio of low carbon investments, with our first green hydrogen hub developments making good progress in Inverness and Shoreham. Getech’s products and our ambition to establish at least 500MW of geoenergy and green hydrogen assets by 2030, place us at the heart of the energy transition and are part of the solution to the world’s energy security challenge. This positions Getech well to deliver a step change in shareholder value.”

For more news and technical articles from the global hydrogen sector, read the latest issue of Global Hydrogen Review magazine.

Global Hydrogen Review's Spring 2022 issue

The inaugural issue of Global Hydrogen Review is full of detailed technical articles and case studies exploring the entire spectrum of hydrogen production and its applications worldwide. This issue covers a range of topics including the current status of blue hydrogen, how cryogenic technology is helping to shape the energy transition, and integrity management of hydrogen pipelines. Other features include green hydrogen, simulation, transportation, compressor technology, and much more.

Read the article online at: https://www.globalhydrogenreview.com/hydrogen/08072022/getech-secure-us215-million-of-new-contracts/