Highlights – LSE:TGP

• Tekmar Group signed a framework with NMDC Infra covering subsea protection and infrastructure collaboration in the Middle East.

• The framework targets concrete mattresses, concrete sleepers and related protection products, including local UAE manufacturing.

• No financial terms, contract values or Revenue guidance were attached to the agreement on announcement.

• Tekmar links the deal to Project Aurora, its integrated platform for asset protection and offshore energy services.

An Abu Dhabi energy show has handed a County Durham engineer a new regional partner. Tekmar (LSE: TGP) on Monday 9 November 2026 announced a framework agreement with NMDC Infra, the infrastructure arm of UAE marine contractor NMDC Group, setting out how the two will work together on concrete mattresses, concrete sleepers and wider protection and infrastructure projects across the Middle East.

What the framework covers

The agreement establishes a strategic framework for collaboration rather than a firm order. Its focus is subsea asset protection and stabilisation, an area where Tekmar already manufactures concrete mattresses in standard, fronded and articulated formats for offshore projects.

The cooperation was first signed at ADIPEC 2026, which ran from 2 to 5 November at the Abu Dhabi National Exhibition Centre. NMDC Group signed five agreements at the event, and reports from the region describe the Tekmar framework as aimed at localising subsea protection and stabilisation solutions in the UAE, including local manufacture of mattresses and subsea sleepers, technology transfer and skills development.

No values, volumes or timelines were attached to the deal.

Why it matters for Tekmar

The AIM-quoted company describes itself as a provider of asset protection technology and offshore energy services, operating through two divisions from its base in Newton Aycliffe. It cites 40 years of experience and work on more than 120 offshore wind projects in 25 countries.

The Middle East has been a recurring source of work. Tekmar's investor pages list a contract above €3.5m for an offshore energy project in the region and a $1.5m award for a Middle East port development, both posted in May 2026. The new framework is tied to Project Aurora, the company's push to offer asset protection and offshore energy services through one integrated platform, and is intended to widen its addressable market.

The trading backdrop

Tekmar's September trading update painted a mixed picture. FY26 revenue was expected to be more than 20% above FY25, and adjusted EBITDA was expected to rise year on year. Yet second-half growth was slower than planned, partly because the prolonged conflict in the Middle East deferred some fourth-quarter work scopes and awards and added logistics costs.

Chief executive Richard Turner said then: "We continue to build momentum and diversity with our orderbook." The company expected to enter FY27 with an order book more than 50% higher than at the start of FY26, and added a £4m invoice discounting Facility to support growth.

The same update guided to second-half adjusted EBITDA broadly in line with H2 2025 and second-half profit after tax close to breakeven. It also flagged a €6m contract extension for a European offshore wind project, conditional on a final Investment decision expected in the first quarter of FY27, with a similar-sized second phase available at the customer's option.

Risks worth weighing

A framework is a starting point, not a revenue line. Without disclosed values, the near-term financial effect cannot be gauged. Regional disruption has already pushed some Tekmar work to the right, and September's update also flagged a supplier power outage that moved some deliveries into FY27. Turning cooperation into purchase orders will depend on NMDC Infra's own project pipeline.

What shareholders may track

For investors following LSE stocks exposed to offshore energy, the useful signals will be any first call-off orders under the framework, progress on local UAE Manufacturing and how the Middle East contributes to the FY27 order book. Tekmar's full-year results will be the next formal checkpoint for that picture.