HARVEST DEPLOYS NODESTREAM TO ASSIST BEACH ENERGY’S OFFSHORE OPERATIONS

Harvest Technology Group Limited (ASX:HTG) has announced a further contract win with Beach Energy, who have selected the company’s ultra-low bandwidth, high quality and secure Nodestream™ technology to play a key role in their asset monitoring. Beach Energy is a key supplier to Australia’s East Coast gas market, operating the Otway Gas Plant and the Lang Lang Gas Plant in Victoria. Beach Energy currently supplies 12% of the gas on the East Coast of Australia and aims to grow this to 16%. This contract has a value of approximately A$200K over a 24 month period.

This announcement builds on an existing commercial relationship which commenced in 2019 that has seen Harvest Work with Beach to develop and deliver innovative technology that transforms how Beach manages their remote offshore operations and assets, whilst removing personnel from the extreme environmental conditions associated with remote operations. Canary Capital believes that this announcement further reinforces phase two of Harvest’s strategic plan which focuses on securing new customers for the Nodestream™ technology and then expanding its use with these customers.