Company

Leeds-based Getech is a market-leading business dedicated to locating subsurface energy and mineral resources to help reduce the global carbon footprint.

Funding Requirement

Getech secures a £500,000 funding deal to accelerate its strategic growth plans, utilising the funding from Reward to diversify, explore new market opportunities within green energy and invest in its data capabilities.

Finance Solution

Getech was formed in 1986 and uses its geoscience data and unique geospatial software to accelerate energy transition away from fossil fuels by developing and leading geo-energy and natural hydrogen projects.

With low carbon technologies requiring significantly more metals than fossil fuels and metal production needing to increase four-fold in the next 20 years, Getech  is at the forefront of meeting this global demand.

In recent years, Getech has provided its data and expertise to customers operating across an even wider range of energy sectors. With the ongoing global energy crisis, large corporations are seeking to take control of their energy needs and are exploring ways to power their operations with geothermal, hydrogen, wind and solar energy sources in close proximity to their business location.

The company is directly enabling businesses globally to meet their Environmental, Social and Governance (ESG) targets, with the working capital from Reward helping it continue its innovation programme.

Harriet Gibbs, Sales Director for Reward, said: “Helping provide working capital to such an innovative business that is working tirelessly to reduce the globe’s dependence on fossil fuels makes us immensely proud. The company had experienced a difficult process with the mainstream banks and needed to both turn to alternative finance and identify a lender with the right experience and expertise.

“We get to work across a diverse mix of SMEs to help fund business growth. However, this partnership stands out given how much Getech’s core business goals and objectives align with our own ESG principles and initiatives. We’re committed to being a responsible lender that cares greatly about the environment and are looking forward to seeing the ongoing progress Getech makes on the world stage.”

Client Testimonial

“We’re at a pivotal stage of our business growth and needed an agile funding solution that ensures we don’t standstill. It’s critical that we continue to diversify, explore new market opportunities within green energy and remain focused on our core goals of finding the natural resources vital for the energy transition.

“The team at Reward have been hugely responsive, operating at speed and investing the time in really understanding our business to deliver a working capital solution that is bespoke to our short to medium term needs.”

Andrew Darbyshire, Chief Financial Officer for Getech