Tekmar Group PLC - Darlington, England-based provider of technology and services for global offshore energy markets - Wins contract for the design and supply of its flagship Generation 10 cable protection system 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 over GBP3.5 million. Production of the CPS systems is expected to commence in 2024 for delivery in 2025.
Chief Executive Alasdair Macdonald says: "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."
Current stock price: 11.65 pence, up 14% in London on Thursday
12-month change: down 15%
By Sophie Rose, Alliance News senior reporter
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Tekmar Group P. (TGP)