Tekmar Group PLC (AIM:TGP) shares leapt 6.4% after it announced the award of a “significant new contract” worth more than £5mln.
In a statement, the technology and services provider for the global offshore energy markets said the contract is for the design and supply of Tekmar Group's flagship Generation 10 cable protection system product (CPS) and associated ancillaries.
The CPS units will be manufactured in Newton Aycliffe and the project is expected to commence in 2023 for delivery in 2024.
Chief Executive Alasdair Macdonald said "This contract helps consolidate our strong position in the growing offshore wind market, and is a testament to our strong in-house engineering capabilities.”
Shares rose 6.4% to 9.58p.