Subsea engineering firm Tekmar has won new work in the US to provide its cable protection systems to an offshore wind farm.
The Darlington-based company told shareholders the "significant" new contract is expected to be delivered in 2023, and would strengthen its US presence.
It follows Tekmar's appointment by DEME Offshore to provide similar work on the Dogger Bank offshore wind project - one of the group's largest contracts to date.
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Alasdair MacDonald, CEO of Tekmar Group, said: "This landmark contract award strengthens our position in the US offshore wind market and represents an important milestone in expanding our geographical presence, a key driver of our growth strategy.
"The contract builds on our encouraging recent contract momentum, including the Dogger Bank Wind Farm, and highlights Tekmar's range of in-house engineering capabilities to address complex engineering challenges and de-risk cable protection projects. We look forward to delivering on our part of this project."
Earlier this year AIM-listed Tekmar announced it had raised £4m through a successful share placing - a move that Mr MacDonald said was a huge vote of confidence in the firm by shareholders and one that set it up for future growth.
Speaking to Business Live at the time, he said: “We’ve positioned ourselves - having done acquisitions - to grow further. We’re looking to organically double the size of the business in the next five years, as we declared in our strategic plan last July.
"Despite these choppy waters of the world economy, we feel we’re on the right road.
“We’ve restructured the team and the business to be engineering solutions led. I think we’re getting traction in the industry and among our investors in support of that strategy. It’s a positive growth story, and we’re going to grow that around a North East company.”
