Getech Joins the United Nations' Race to Zero

RNS Number : 9123Y

GETECH Group plc

18 May 2021

 

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18 May 2021

Getech Group plc

("Getech" or the "Company")

Getech Joins the United Nations' Race to Zero

Getech provides data, knowledge, software and analytical products and services to help locate and manage new energy resources and to optimise their development.

In line with the Company's commitment to use its skills and technologies to accelerate progress to global net-zero, Getech has joined the United Nations' Race to Zero campaign, pledging to become carbon neutral by 2030.

Getech will deliver on this pledge by applying its extensive earth science and geospatial skills to the transitioning primary energy sector, to support its customers in the optimisation of existing, and the delivery of new, energy assets.

The Company is already applying its skills and technologies to an expanding range of energy sources, including geothermal energy to produce heat and power; carbon capture utilisation and storage to support the development of the blue hydrogen market; and the development of green hydrogen hubs to decarbonise transport and heat infrastructure.

In addition, Getech intends to maximise its exposure to the value of these activities by making targeted direct investments in carbon neutral energy projects. This will enable Getech to decarbonise its own operations through the application of its technology.

Getech's first project investment is in green hydrogen, which it will produce at its own supply hubs through its subsidiary H2 Green . This hydrogen will be used as a carbon neutral fuel for vehicles, heating and power generation. The Group will then use carbon offset credits generated by other H2 Green projects to offset any remaining emissions.

This is a case study for future investments that the Company intends to target as it works to empirically demonstrate how energy companies can successfully implement their own low-carbon technologies and net zero strategies.

Jonathan Copus, CEO of Getech, explains why Getech has decided to join the Race to Zero:

"I am proud that Getech is committing to the Race to Zero as decarbonising the energy industry is the most important challenge our generation is facing. To be credible evangelists for the decarbonisation of the energy industry, it is vitally important that we continue to lead by example, embarking on our own net zero journey.

This places us in step with our customers, and through our day-to-day operations we look to directly demonstrate the economic viability and carbon reduction potential of energy transition technologies - including geothermal, green hydrogen and blue hydrogen. Our goal is to instil the required confidence in our major energy industry clients for them to partner with us as they scale-up their own projects."

Notes to Editors:

For further information, please contact:

Getech Group plc	Tel:  [phone]
Jonathan Copus, Chief Executive
Cenkos Securities plc	Tel:  [phone]
Neil McDonald / Pete Lynch (Corporate Finance) Michael Johnson / Julian Morse (Sales)
Camarco	Tel: [phone]
James Crothers / Ollie Head / Toby Strong

Getech (AIM: GTC) has a well-established position within the global energy market, assisting clients with its unique combination of products and services, that utilise the Group's sub-surface skills and geospatial design and implementation capabilities alongside a deep knowledge and understanding of how to deploy data.

The Company is leveraging its strong market position, utilising its existing expertise, and targeting additional commercial opportunities, to de-risk and accelerate the global transition to renewable sources of energy while strengthening its existing and well-established business.

Getech is listed on the AIM market of the London Stock Exchange. For further information, please visit www.getech.com

 

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