New Contract Award

Tekmar Group (AIM: TGP), a leading provider of products and solutions for the global offshore energy market is pleased to announce a significant new contract award.

The contract award is for the design and supply of Tekmar Group's flagship Generation 10 cable protection system (CPS) and associated ancillaries in an emerging region for offshore wind farm development. The contract covers the first phase of the development, with the contract value for this initial phase in excess of £3.5 million. Production of the CPS systems is expected to commence in 2024 for delivery in 2025.

Alasdair Macdonald, CEO of Tekmar Group, said "This contract helps consolidate our position in a growing and important region for offshore wind and highlights the strength of our established engineering capability in supporting deployment of our core technologies globally. It also reflects the strength of our working relationships with project developers and key supply chain partners, where we address customers' complex engineering requirements and optimise and de-risk projects. We look forward to supporting our partners in the successful delivery of this project and to collaborating with them on further phases of this landmark project."