TEKMAR Energy is the developer and manufacturer of the leading Teklink® Cable Protection systems used to protect power cables in a challenging, dynamic subsea environment.
It has seen its revenues increase sixfold since 2009, with profits growing at a similar pace.
Its ongoing growth and success was highlighted at the Durham and Wearside business awards where it was successful in winning the dual titles of Manufacturer and Company of the year, beating more than 80 finalists from a variety of industries.
Tekmar epitomise the entrepreneurial drive, innovation, financial acumen and ambition that characterises the region’s dynamic economy and will inspire many more companies as businesses battle through these challenging times.
Following its recent success in the local business awards, Tekmar have re-energised their plans for the future. Their growth is being fuelled by a significant injection of funds from London Private Equity firm Elysian and after spending £500,000 creating a new watertight seal last year, Finance Director Phil Heathcock said: “2012 is shaping up to be another exciting year for Tekmar Energy.
“We plan to invest over £1million in our fixed asset base over the course of the year to enable us to increase our capacity and maintain our position as market leader.
“Alongside investment in our asset base we plan to increase the number of permanent staff employed by the company to ensure that we maintain the highest level of quality standards and production efficiency.”
Tekmar’s track record and consistency a must have for Offshore Wind.
During 2011 Tekmar were awarded the contract to work on the Teesside offshore windfarm based on the strength of their excellent track record and experience in the sector.
Once up and running the windfarm will have the capacity to produce 62 megawatts of electricity, enough green energy to power up to 40,000 households locally.
Also within the UK Tekmar have worked on the Walney offshore wind projects, which is the largest operational offshore windfarm in the world.
Other recent UK projects under construction that Tekmar worked on include Gwynt-y-Mor, Ormonde and Greater Gabbard.
Further afield its track record continues to exhibit strong reliability and consistency in the industry.
As well as the UK projects listed above, over the last year it worked on the Thornton Bank II (Belgium), Borkum West (Germany) and Anholt (Denmark) projects.
Tekmar adds value to each of these projects through its unique innovative product, whilst also bringing crucial offshore experience to each project.
Tekmar continue to show ambition and confidence as it plans to perform their second round of product demonstrations at Teesport during the end of April.
The demonstrations are part of Tekmar’s commitment to investing in the offshore wind industry, developing understanding, knowledge and expertise.
Its unique technology has ensured it continues to win contracts across Europe.
For 2012 Tekmar have a secured pipeline, which includes working on the Thornton Bank III (Belgium), Global Tech (Germany) and Riffgat (Germany) projects.
The European renewable energy market is expected to grow aggressively over the next 20 years, with offshore wind dominating this expansion.
Still in its relative infancy, installed European offshore wind capacity is forecast to reach 150GW by 2030 – a 50 fold increase on the current 2.9GW capacity.
Globally the offshore wind industry is beginning to gain momentum in other economies such as China and the US.
Tekmar believes that this represents an exciting opportunity for established British engineering firms to expand and become global leaders in the offshore wind energy market.
The European offshore wind industry is maturing and going through an important stage in its development.
Chief executive officer, James Ritchie said: “Through investment and experience comes standardisation and best practice, which are crucial if offshore wind is going to continue to be the “renewable energy of choice” for European and other global economies.
Tekmar continue to be at the forefront of this development advocating consistency and reliability across the industry.