OES Group secures £5.5m offshore wind farm contract

Gateshead-based OES Group, which provides advanced solutions for fouling and corrosion in maritime, renewable energy and port infrastructure, has secured a £5.5 million export contract with a Belgian company.

The deal, which will see OES supply technology to extend the lifespan of offshore wind farms, was supported by a trade loan of up to £2.5 million, backed by UK Export Finance (UKEF) through its General Export Facility.

OES Group at work (Image: Supplied)

Patrick Kendell, North East senior export finance manager at UK Export Finance, said: “Supporting businesses like OES is exactly what UKEF is here to do. “Our General Export Facility helps companies expand into new markets, scale their operations, and create jobs at home and abroad.

“It’s fantastic to see OES using this support to grow their exports, invest in the North East, and explore new opportunities internationally.”

With UKEF support, OES has been able to invest in new facilities and job creation.

Over the past year, the company has opened a new factory in Gateshead and created 15 jobs, bringing its UK workforce to 36.

Robert Forsyth, managing director at OES, said: “UKEF and HSBC’s backing has allowed us to invest in our future, exploring new markets in Asia, and open up an entity in the UAE. “Closer to home, OES has been able to invest in another factory in the North East, increasing job opportunities as a result. “Knowing we have had UKEF’s support has given us the peace of mind to drive growth without being held back, enabling us to soar to new heights within the industry. “Looking ahead, I am so excited to see what more OES can achieve.”

Since UKEF first began supporting OES in 2021, the company has increased exports and grown revenue by more than 200 per cent.

It recorded revenue of £13.7 million in the last financial year, up from £4.5 million in 2021.

Building on that growth, OES is now securing contracts in China, Korea and the Netherlands, while investing in the Japanese offshore wind market.

The company also plans to expand globally with a new manufacturing facility in Dubai, set to open in the first half of 2026.

Peter Wilbraham, regional director in global trade solutions at HSBC UK, said: “We are delighted to support OES in its export growth journey. “Through our partnership with UKEF, we have been able to provide tailored financing solutions that give businesses the confidence and flexibility to expand into new markets.

“It’s fantastic to see OES creating new jobs and growing its global presence. “At HSBC UK, we are keen to support ambitious businesses such as OES which are exploring importing and exporting opportunities.”

The announcement follows the publication of UKEF’s annual report and accounts for 2024/25.

Last year, the government’s export credit agency provided a record £14.5 billion in new financing, supporting more than 667 UK companies to export and helping to sustain up to 70,000 jobs across the country.