DeepWater Buoyancy, Inc., a leading producer of subsea buoyancy products for offshore oil & gas, energy, oceanographic, and technology companies, is pleased to announce it has signed a Memorandum of Understanding (MOU) with Tekmar Group (AIM: TGP), a leading provider of technology and services for the global offshore energy markets.
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 optimize 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 stabilization 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 the Group. The partnership also provides DeepWater Buoyancy with greater access to the European market, where their products complement Tekmar Group’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.”
