Getech Group PLC (AIM:GTC) CEO Richard Bennett speaks to Thomas Warner from Proactive following a period of "restructuring and re-focusing" on what it calls its core expertise of locating subsurface resources.
Bennett previously served as Getech's Chairman but took over as CEO earlier this year. He gives an overview of some of the challenges the company has faced recently, highlighting an ultimately unsuccessful pivot away from its traditional focus on oil and gas and into the nascent green hydrogen sector.
He says that he has now "set the mission of the company back to finding not just oil and gas, but the subsurface assets that are really required by the energy transition" including geothermal, carbon storage and some critical minerals projects.
Bennett says his immediate goal is to achieve a breakeven point for the company within the next six months, ensuring a stable foundation for future growth and avoiding the need for a potentially expensive fundraise.