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Getech (GTC) Joins the United Nations’ Race to Zero Campaign

Updated: 18 May 2021

Getech (LON: GTC) announced on Tuesday that it has joined the United Nations' Race to Zero campaign, pledging to become carbon neutral by 2030.

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The technology company said it 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.”

Getech is already working within several different energy markets, including geothermal energy to produce heat and power, carbon capture utilisation and storage to support the development of the blue hydrogen market, and developing green hydrogen hubs to decarbonise transport and heat infrastructure.

The AIM-listed company also intends to maximise its exposure by making targeted direct investments in carbon-neutral energy projects.

Getech's first project investment is in green hydrogen, which it will produce at its own supply hubs through its subsidiary H2 Green. The hydrogen will be used as a carbon-neutral fuel for vehicles, heating and power generation. The company said it is a case study for future investments.

Jonathan Copus, CEO of Getech, commented: “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.”

Getech's share price is currently up 3.6% at 25.4p.

Should you invest in Getech Group shares?

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