How Leeds-based geospatial tech firm Getech has secured $2.15m of new contracts

The new contracts include geoscience data sales and product renewals and extensions for the group’s Globe knowledge base, which models the earth’s evolution over the last 400 million years.

The transactions include a $900,000 multi-product sale to a global critical minerals company - Getech’s largest contract to date in the critical minerals sector.

Dr Jonathan Copus, CEO of Leeds-based Getech, said: “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.”

The products sold provide access to Getech’s large 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 insight into the processes that locate and concentrate energy and critical mineral resources.

Approximately 56 per cent of these new sales are expected to translate to revenue in 2022. It 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 it a strong foundation to deliver multi-year diversified growth.