New Contract Award

Tekmar Group PLC

03 July 2024

 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR. Upon the publication of this announcement via a Regulatory Information Service, this inside information is considered to be in the public domain.

TEKMAR GROUP PLC

("Tekmar Group", "Tekmar" or the "Group")

New Contract Award

Tekmar Group (AIM: TGP), a leading provider of products and solutions for the global offshore energy market, announces a significant contract award with a value in excess of €4 million.

The contract is for the design and supply of Tekmar Group's flagship Generation 10 cable protection system (CPS) product and associated ancillaries. The CPS units will be installed throughout a European wind farm project, which is part of a larger regional development. The CPS units will be manufactured at the Group's Newton Aycliffe, United Kingdom facility. Tekmar Group will utilise its in-house subsea analysis capabilities and experience to support the project. The project will commence immediately and be delivered in December 2025.

Alasdair MacDonald, CEO of Tekmar Group, said "This contract, where we are partnering with a new customer, is testament to our strong in-house engineering capabilities, which enable us to address customers' complex engineering requirements and optimise and de-risk projects. The award helps consolidate our strong position in the European offshore wind market and reflects the strength of our working relationships with project developers and key supply chain partners. We look forward to supporting our partners in successfully delivering this project." 

Enquiries:

Tekmar Group plc Alasdair MacDonald, CEO Leanne Wilkinson, CFO	Via Gracechurch Group
Singer Capital Markets (Nominated Adviser and Joint Broker) Rick Thompson / Sam Butcher	[phone]
Berenberg (Joint Broker) Ben Wright / Ciaran Walsh	[phone]
Gracechurch Group (Financial Media & Investor Relations) Murdo Montgomery / Heather Armstrong	[phone]

The person responsible for arranging the release of this announcement on behalf of Tekmar is Leanne Wilkinson, Chief Financial Officer.

About Tekmar Group plc 

Tekmar Group plc (AIM: TGP) collaborates with its partners to deliver robust and sustainable engineering led solutions that enable the world's energy transition.

Through our Offshore Energy and Marine Civils Divisions we provide a range of engineering services and technologies to support and protect offshore wind farms and other offshore energy assets and marine infrastructure. With nearly 40 years of experience, we optimise and de-risk projects, solve customers' engineering challenges, improve safety and lower project costs. Our capabilities include geotechnical design and analysis, simulation and engineering analysis, bespoke equipment design and build, subsea protection technology and subsea stability technology. 

We have a clear strategy focused on strengthening Tekmar's value proposition as an engineering solutions-led business that offers integrated and differentiated technology, services and products to our global customer base.

Headquartered in Newton Aycliffe, UK, Tekmar Group has an extensive global reach with offices, manufacturing facilities, strategic supply partnerships and representation in 18 locations across Europe, Africa, the Middle East, Asia Pacific and North America.

For more information visit: www.tekmargroup.com

 

END