Tekmar Group PLC on Monday said it has been awarded a new contract as part of a ‘landmark project’ in the UK, as the firm looks to ‘outperform an improving and growing market’.
The Newton Aycliffe, England-based technology and services provider for global offshore energy markets said it has signed a £5 million contract for a UK-based offshore windfarm project.
The contract is for the design and supply of Tekmar’s flagship Generation 10 cable protection system, and associated ancillaries. Tekmar said the project will commence immediately and is expected to complete by the end of 2025.
Shares in Tekmar rose 6.3% to 6.11 pence on Monday morning in London.
Tekmar Group Chief Executive Richard Turner said: ‘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 scope of supply.
‘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.’
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