12th Jul 2022 12:16
(Alliance News) - Getech Group PLC on Tuesday said it has been contracted to deploy its geospatial software and subsurface expertise to support the UK's first carbon storage licensing round.
The Leeds, England-based provider of geoscience data said that it is working with the UK's oil, gas & carbon storage regulator, the North Sea Transition Authority. So far, Getech has used its exploration analyst software to leverage NSTA's in-house data to create strategic maps to define optimal areas for carbon dioxide storage.
The NSTA recently announced the UK's first carbon storage licensing round, inviting bids on 13 high graded areas that have the potential to make a "significant contribution" to the UK government's aim of storing 20-30 million tonnes of carbon dioxide by 2030.
Chief Executive Jonathan Copus said: "Getech is working to accelerate the energy transition by assisting companies and governments in their delivery of sustainable and secure decarbonisation. We do this by deploying our unique geoscience data and proprietary geospatial software to help locate and manage low carbon developments.
"In step with the rapidly expanding energy transition markets, we look forward to scaling the deployment of our products, which we are also using to locate, develop and operate our own project investments," Corpus added.
Shares in Getech were up 0.9% to 20.69 pence each in London on Tuesday around midday.
By Sophie Rose; [email protected]
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