New Wave Media

July 8, 2022

Tekmar Nets Offshore Wind Gig in Japan

Credit:  Ian Dyball/AdobeStock

Credit: Ian Dyball/AdobeStock

Tekmar Group has secured a contract to provide an integrated engineering solution, including Cable Protection Systems ("CPS") and Cable Hang-Off Clamps, for an offshore wind farm project in Japan. The contract is expected to be delivered in 2023.

The company did not say who the client was. The financial details were not shared either.

Alasdair MacDonald, CEO of Tekmar Group, said: "We are pleased to be announcing this significant contract award, which represents an important strategic milestone as we extend our geographical reach into the Japanese offshore wind market.  This contract builds on the encouraging contract momentum we have established, highlighted by the record order book of £20.1m we announced with our first-half results, and demonstrates how our CPS solution offers superior technical capability and value in de-risking complex subsea engineering projects for the market.

Market Activity Improving

MacDonald said "We also see this recent contract momentum as an important indicator that the level of market activity is improving and are also pleased to update that we had a strong cash collection towards the end of our June quarter. This supports our confidence in the stability of the business as the market environment improves. 

"The company has launched a formal sale process and further communication with shareholders on this process will be made as and when appropriate to do so. In the meantime, it is business as usual for Tekmar as we remain focused on delivering on our plans and we look forward to keeping shareholders updated with our continued progress."

The February 2022 eMag edition of Marine Technology Reporter looks inside the world of oceanography.
Read the Magazine Sponsored by

How to Choose the Best Inertial Solution for your Application and Accuracy Needs

Marine Technology Magazine Cover Jul 2022 -

Marine Technology Reporter is the world's largest audited subsea industry publication serving the offshore energy, subsea defense and scientific communities.

Marine Technology ENews subscription

Marine Technology ENews is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for MTR E-news