City briefs: Getech and WANdisco
Geoenergy and green hydrogen company, Getech, has secured $2.15m/£1.8m of new contracts.
These include geoscience data sales and product renewals and extensions for the Leeds-based Group’s Globe knowledge base, which models the earth’s evolution over the last 400 million years.
The transactions include a $900,000/£754,000 multi-product sale to a global critical minerals company. This is Getech’s largest contract to date in the critical minerals sector.
The products sold provide access to Getech’s portfolio of proprietary geoscience data.
Its Globe knowledge base synthesises this data into a ‘digital twin’ of the Earth – modelling geologic, climatic, and oceanographic systems to provide insight into the processes that locate and concentrate energy and critical mineral resources.
Approximately 56% of these new sales are expected to translate to revenue in 2022, placing Getech on track with market expectations for double digit annual revenue growth.
Chief executive officer, Dr Jonathan Copus, said: “While companies and governments continue to expand their investment in new sources of energy and minerals, today’s new sales announcement – and the record size of our orderbook – provide further evidence of how demand for our products continues to grow in our target markets of transitional petroleum, critical minerals, storage, geothermal and hydrogen.
“In addition to driving near-term revenue, we use our products and capabilities to help us establish strategic partnerships through which we are building our own portfolio of low carbon investments, with our first green hydrogen hub developments making good progress in Inverness and Shoreham.”
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Sheffield-based live data business, WANdisco, has secured a contract with a large financial services firm in Canada.
The data migration contract with the client – a top five Canadian bank – is valued at $1.1m/£921,000 over three years.
It will make use of WANdisco’s LiveData Migrator (LDM) product. The initial migration will involve five petabytes of data, with room for future expansion.
This is WANdisco’s first Google Cloud win in North America and represents another contract win in the global financial services market.
CEO and chairman, David Richards, said: “We are seeing a robust pipeline of deals for LiveData Migrator on all cloud platforms.
“LiveData Migrator’s zero business downtime capabilities for moving transactional data, combined with its easy to deploy and easy to use interface means clients across several verticals are interested in our products as businesses attempt to stay competitive and agile.”
