Dr Jonathan Copus of Getech talks abouts 2021 being a period of fundamental change and significant progress.

Dr Jonathan Copus CEO of Getech #GTC talks abouts 2021 being a period of fundamental change and significant progress gearing the Group for growth in multiple facets of the Energy Transition.

Interim Report Highlights for the Six Months Ending 30 June 2021
Getech combines global geoscience expertise with local geospatial technology to accelerate progress to global NetZero. The Group does this by supporting the optimisation of existing, and delivery of new, energy assets and mineral resources, with core growth areas spanning hydrogen, geothermal, strategic minerals and carbon capture utilisation and storage.

· Strong H1 trading. Revenue up 16% year-on-year, petroleum operations returning to cash profit. Group Orderbook fully replenished at end July 2021 (£2.7 million), annualised recurring revenue steady (£2.2 million). Cash at 30 June £6.8 million (31 Dec 2020: £2.2 million), plus £2.3 million of receivables (31 Dec 2020: £1.4 million).

· Significant investment in new skills, technology and staff are reshaping Getech around the Energy Transition. This opens multiple transformational opportunities, funded by March 2021 fundraise (£5.7 million, net of costs).

· Advanced discussions ongoing on securing first hydrogen asset, which is ideally positioned for access to high demand customers. This is part of an initial high-graded portfolio of 5 sites, with a combined peak capacity of 14,000 tonnes of H2 per year. The project funnel contains hundreds of sites in the UK, and this is now being expanded to Europe.

· First phases of Geothermal and Strategic Minerals investment completed. New cloud-based products to be delivered from October through an innovative new Getech platform, designed to agglomerate energy transition data and knowledge. Customer engagement is positive, spanning licensed product subscriptions and service provision.

· Trading conditions since 30 June 2021 continue on-trend with H1 2021, with a full tender pipeline and busy schedule of product releases.

· Management looks forward to what it believes will be another transformational, busy and rewarding period for the Getech Group.

Getech provides expertise, support and knowledge that companies and governments need to better locate, develop and manage energy assets and natural resources.

Our data-rich products, earth science expertise, geospatial solutions and government advisory services help our customers to achieve their business goals of cost control, operational excellence, regulatory compliance and environmental responsibility.