Tekmar Group to supply cable protection systems to Dogger Bank offshore wind farm

Tekmar said on Friday that it had signed a contract with EPCI contractor DEME Offshore to design, manufacture and supply Generation 10 TekTube cable protection systems to protect subsea inter-array cables on the first two phases of the project, with a customer option for the third phase.

The AIM-listed group added that the systems would be manufactured at its "state-of-the-art facility" in the North East of England, located less than 50 kilometres from Dogger Bank's export cable landfall site in Teesside. The first systems were expected to be delivered from August 2022, with production continuing into 2024.

Chief executive Alasdair MacDonald said: "This landmark contract reinforces our global market-leading position in one of our core technologies and is testament to Tekmar's range of in-house engineering capabilities to address complex engineering challenges and optimise and de-risk client projects. Whilst this contract has limited financial impact on the current financial year, we are encouraged by this and other recent awards, which support our strategic plan as we work through the ongoing challenges we highlighted in our October trading statement.

"These pressures make for a more challenging near-term environment for the industry in terms of managing costs, contract delivery and associated payment cycles. We are prioritising managing the business through these constraints, alongside securing the valuable contracts on projects like Dogger Bank that highlight the opportunity we have ahead."

As of 0930 GMT, Tekmar shares were up 8.31% at 51.99p.