Tekmar Group plc (LSE:TGP) has landed a major contract worth over US$10 million with a global EPC contractor for an offshore energy development in the UAE. The deal covers the design and production of the company’s TekDuct cable protection system and ballast modules. Work begins immediately, with deliveries scheduled for the first quarter of 2026. This latest award strengthens Tekmar’s presence in the Middle East and highlights its ability to turn a strong project pipeline into substantial revenue opportunities, supporting its growth trajectory.
While the company continues to face profitability and cash flow pressures, the signing of large-scale contracts and recent leadership changes provide reasons for optimism. Technical signals currently show neutral momentum, but potential improvements may follow, even as valuation concerns linger due to ongoing losses.
About Tekmar Group
Tekmar Group plc is a leading provider of offshore energy services and asset protection technologies, specializing in solutions that support the transition to cleaner energy. Operating through its Offshore Energy and Marine Civils divisions, the company offers expertise in subsea protection, geotechnical design, and engineering analysis. Headquartered in Newton Aycliffe, UK, and backed by nearly four decades of experience, Tekmar maintains a global footprint with offices and partnerships across Europe, Africa, the Middle East, Asia Pacific, and North America.
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