Getech Group PLC (AIM:GTC) Executive Chairman, Richard Bennett, discussed the company's transformation and its strategic shift from an oil and gas-focused firm to a player in the broader energy transition sector whilst at the Proactive One2One Investor Forum.
Bennett highlighted the changes on the company's board, with himself taking on the role of CEO to implement these transformations while Michael Covington assumes the chairman role to ensure strong corporate governance.
Getech, originally spun out of Leeds University, has a rich history in helping oil and gas companies locate resources worldwide. However, Bennett emphasized the company's new direction of diversification and finding subsurface resources crucial for the energy transition. This involves supporting oil and gas firms in areas like carbon capture and storage while also venturing into geothermal energy and critical minerals exploration.
Bennett also touched on the company's data-driven approach, showcasing their proprietary geoscience platform, Globe, which has over 400 million years of data. He mentioned the integration of AI and machine learning to make this data more relevant to the energy transition.
The presentation revealed Getech's commitment to embracing the energy transition and leveraging its data-driven expertise to support various industries while keeping a keen eye on financial sustainability and growth.
