Offshore Wind Contract Award

Tekmar Group PLC

27 January 2025

 

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")

 Offshore Wind Contract Award

Tekmar Group (AIM: TGP), the leading provider of products and solutions for the global offshore energy market, is pleased to announce a significant new contract award with a total value in the region of £5 million for a UK-based offshore wind farm project.

The contract is for the design and supply of Tekmar's flagship Generation 10 cable protection system ("CPS") and associated ancillaries, including cable hang-off clamps. Tekmar Group will leverage its in-house engineering expertise and holistic CPS design capabilities to deliver a solution optimised for the project's specific requirements. The project will commence immediately, with delivery scheduled for completion in CY2025. 

Richard Turner, CEO, Tekmar Group, commented: "We are delighted to be partnering with this client for the first time on a project of this size as part of their Engineering Procurement, Construction and Installation ("EPCI") scope of supply. Tekmar has been selected because of our integrated offering, including our early-stage engineering support, our customer focus and our track record which is unrivalled in the industry. We will design and deliver next generation protection solutions to this landmark project in the UK, this is testament to the differentiated value that Tekmar brings to protecting offshore assets.

This contract is also an important step in delivering our ambitious plans for order book development in FY25 and beyond as we look to outperform an improving and growing market."

Enquiries:

Tekmar Group Plc Richard Turner, CEO Leanne Wilkinson, CFO	c/o [phone]
Cavendish Capital Markets Limited (Nomad and Broker) Peter Lynch Neil McDonald Pearl Kellie	[phone] [phone] [phone]
Gracechurch Group (Financial Media & Investor Relations) Murdo Montgomery Heather Armstrong	[phone]

About Tekmar Group plc

Tekmar Group plc 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 near 40 years of experience, we optimise and de-risk projects, solve customer's 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 which 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

Subscribe to further news from Tekmar Group at Group News.

 

END