LONDON - Getech Group plc, a provider of subsurface resource location services, has announced a strategic collaboration with Natural Hydrogen Ventures (NHV), an investment fund specializing in natural hydrogen. The partnership aims to bolster both companies' positions in the burgeoning natural hydrogen sector, which is seen as a potential game-changer for the energy industry due to its eco-friendly and cost-effective characteristics.
Under the terms of the collaboration, Getech will apply its expertise in subsurface resource identification to screen NHV's portfolio of natural hydrogen projects, enhancing the fund's ability to select promising ventures and mitigate investment risks. Additionally, Getech will introduce NHV as a potential investor to its own natural hydrogen exploration clients, expanding its revenue potential within the sector.
Getech, known for its advanced machine learning algorithms and geoscience platform Globe, has already completed a revenue-generating project with NHV, demonstrating the immediate benefits of the partnership. This collaboration aligns with Getech's strategy to monetize its natural hydrogen location solutions and grow its global client base.
Richard Bennett, CEO of Getech, expressed optimism about the partnership's capacity to extend the company's reach and accelerate the discovery of natural hydrogen. Morten Stahl, Founding Partner at NHV, also highlighted the importance of Getech's technical expertise in de-risking the fund's investment portfolio.
Natural hydrogen, which is produced without CO2 emissions and can be cost-competitive with fossil fuels, has the potential to meet the world's energy needs for centuries. The current global hydrogen market is valued at $130 billion and is expected to grow significantly. In August 2024, NHV launched the Natural Hydrogen Index to track the performance of the top companies in the sector, including Getech.
The collaboration between Getech and NHV reflects the growing interest in natural hydrogen as a sustainable energy source and the importance of strategic partnerships in advancing the industry. This partnership is based on a press release statement.
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