TIDMTGP
Tekmar Group PLC
16 August 2021
TEKMAR GROUP PLC
("Tekmar Group" or the "Company")
Tekmar Group and DeepWater Buoyancy form partnership to enhance
their offshore energy project capability
Tekmar Group (AIM: TGP), a leading provider of technology and
services for the global offshore energy markets, is pleased to
announce it has signed a Memorandum of Understanding ("MOU") with
DeepWater Buoyancy, Inc. ("DeepWater"), a leading producer of
subsea buoyancy products for offshore oil & gas, energy,
oceanographic, and technology companies. Under the MOU, the
companies will bring together their complementary engineering
capabilities, and extensive track records in their respective
fields, to enhance the range of services and technologies they
offer customers, whilst helping to integrate and optimise offshore
project supply chains.
The partnership is focused on the new and emerging floating
offshore wind market which has an exponential growth forecast of
10GW installed capacity by 2030. Tekmar Group and DeepWater
Buoyancy will provide greater value across the life of a floating
wind project by offering a collective package of geotechnical
assessment and engineering analysis, cable and mooring system
design, cable protection and stabilisation solutions, cable
buoyancy, and mooring line buoyancy. Additionally, they will offer
bespoke product solutions for the unique elements of floating
offshore wind projects, such as cable disconnection systems.
The partnership further supports Tekmar Group's organic growth
strategy by strengthening its presence and manufacturing capability
in the US fixed offshore wind market, an emerging but increasingly
important market for Tekmar. The partnership also provides
DeepWater with greater access to the European market, where their
products complement Tekmar's existing offering.
Gary Howland, Group Sales Director at Tekmar Group said
"Aligning with DeepWater Buoyancy gives Tekmar Group access to over
40 years of innovation in subsea buoyancy products. This
strengthens the unrivalled service and technology capability we
already offer across a subsea project's timeline. The partnership
supports Tekmar Group's ambition for the global floating wind
market and the US fixed offshore wind market, where we now have
stateside expertise and manufacturing capability. We look forward
to building a strong and rewarding relationship with DeepWater
Buoyancy."
David Capotosto, Co-President & Director of Business
Development at DeepWater Buoyancy commented "This new partnership
represents both companies' commitment to serving the rapidly
growing offshore wind market and will enable us to offer a wider
range of products and service solutions to our customers. We look
forward to leveraging Tekmar Group's vast offshore wind experience
and their extensive global reach to drive the partnership
forward."
Enquiries:
Tekmar Group plc
Alasdair MacDonald, CEO
Derek Bulmer, CFO +44 (0)1325 349 050
Singer Capital Markets (Nominated Adviser and
Joint Broker)
Rick Thompson / Rachel Hayes +44 (0)20 7496 3000
Berenberg (Joint Broker)
Chris Bowman / Ben Wright / Ciaran Walsh +44 (0)20 3207 7800
Bamburgh Capital Limited (Financial PR & Investor
Relations)
Murdo Montgomery +44 (0) 191 249 7442
About Tekmar Group plc - www.tekmargroup.com
Tekmar Group plc's vision is to be the leading provider of
technology and services for the global offshore energy markets. The
Group has five primary operating companies; these are Tekmar Energy
Limited, Subsea Innovation Limited, AgileTek Engineering Limited,
Ryder Geotechnical Limited and Pipeshield International
limited.
Tekmar Energy is a global market leader in protection systems
for subsea cable, umbilical and flexible pipe. Tekmar Energy has
been trusted to protect billions of Euros worth of assets in the
offshore wind, oil & gas, wave, tidal and interconnector
markets since 1985.
Subsea Innovation is a global leader in the design, manufacture
and supply of complex engineered equipment and technology used in
the offshore energy market. Its products include large equipment
handling systems which operate on the back of pipelay installation
vessels; emergency pipeline repair clamps (EPRC) which protect
major oil and gas pipelines, and bespoke equipment for use in the
construction of offshore energy projects.
AgileTek Engineering is an award-winning subsea engineering
consultancy for offshore energy projects. AgileTek helps its
clients de-risk projects through advanced computer simulation and
analysis. AgileDat, a division of AgileTek, provides software
development, cloud architecture and data analytics services.
Ryder Geotechnical provides expert geotechnical design and
consulting services to the offshore wind and subsea oil and gas
sectors. Services include offshore structure foundation design,
geohazard assessment and subsea cable routing and burial
assessment.
Pipeshield International is a market leading provider of
specialised subsea protection solutions in the form of concrete
mattresses used for the stabilisation and impact protection of
subsea equipment in areas where they cannot be buried and further
to limit the development of scour (seabed erosion) particularly
local to that of a foundation, pipeline or in marine ports.
Tekmar Energy is headquartered in Newton Aycliffe in the United
Kingdom; AgileTek operates from an office in London; Subsea
Innovation has its head office and manufacturing centre in
Darlington, United Kingdom. Ryder operates in Newcastle and within
AgileTek London, Pipeshield headquarters are in Lowestoft with
manufacturing in Montrose and Blyth. Tekmar Group plc also has
strategic supply bases and representation across Europe, Africa,
the Middle East and Asia Pacific.
Subscribe to further news from around the Group at Group
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About DeepWater Buoyancy
DeepWater Buoyancy, Inc., located in Maine USA, provides subsea
buoyancy products for offshore energy, oceanographic, military, and
technology companies around the world. Customers have relied on our
products for over forty years, from the ocean surface to depths
exceeding six thousand meters. www.DeepWaterBuoyancy.com
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