“The Tees Valley Catalyst Fund has provided essential support in our growth plans and our ability to take on new contracts. We are regularly asked to provide performance bonds and warranty bonds, particularly for our larger offshore wind contracts, and FW Capital engaged with us, working with our bank and investors, to provide essential support in securing this work.”
Tekmar Energy (Tekmar) is a market leader in undersea cable protection systems based in Newton Aycliffe. It operates in a range of sectors, notably the offshore wind, oil and gas sectors, and it has completed work on a number of contracts with large European energy companies such as Statoil, Statkraft and Dong Energy.
Tekmar secured a £1.6 million loan from the Tees Valley Catalyst Fund, managed by FW Capital, to fund the bonds required to secure contracts worth £15 million in the offshore wind sector in the UK and Europe.