20 January 2025
Van Elle Holdings
plc
('Van
Elle', the 'Company' or the 'Group')
Partnering agreement with
Wood for delivery of electricity transmission
schemes
Van Elle Holdings plc (AIM: VANL),
the UK's largest ground engineering contractor, announces that it
has signed an eight-year partnering agreement with Wood
Transmission & Distribution Limited ("Wood") to deliver ground
investigation, design and construction activities for piling and
foundations across several transmission schemes as part of Ofgem's
Accelerated Strategic Transmission Investment (ASTI)
programme1. Subject to performance, the
partnership is expected to be worth in excess of £30m to Van Elle
over that period.
Works have commenced on initial
projects in New Cumnock, Argyll and most recently at Beauly-Loch
Buidhe where ground investigation works are mobilising throughout
January for 240 towers to be constructed in 2026-27.
Chief Executive, Mark Cutler,
commented: "Wood has been a long-standing customer for
Van Elle, so we are delighted to announce this partnering agreement
to help deliver part of the significant scale of energy
infrastructure in Scotland together over the coming years.
Our breadth of capability allows us to integrate ground
investigation, design and piling and foundation solutions best
suited to the project requirements. Initial works have
commenced, and activity levels will now increase as other schemes
are mobilised across Scotland.
"Our recent acquisition of Albion Drilling based in Stirling
will support with a local resource base and specialist skills
needed to deliver these important commitments, often in remote and
challenging locations.
"This agreement is the first of a number that we anticipate in
this growing sector; reinforcing our confidence in our medium-term
ambitions."
1:https://www.ofgem.gov.uk/decision/decision-accelerating-onshore-electricity-transmission-investment
For
further information, please contact:
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Van
Elle Holdings plc
Mark Cutler, Chief Executive
Officer
Graeme Campbell, Chief Financial
Officer
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Via
Walbrook
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Peel Hunt LLP (Nominated Adviser and corporate
broker)
Ed Allsopp
Charlotte Sutcliffe
Tom Graham
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Tel: 020 7418 8900
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Walbrook PR Limited
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Tel: 020 7933 8780
or
vanelle@walbrookpr.com
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Tom Cooper
Nick Rome
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07971 221 972
07748 325 236
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About Van Elle Holdings plc:
Van Elle Holdings is the UK's
largest specialist geotechnical engineering contractor. Formed in
1984 and listed on AIM in 2016, the Company provides a wide range
of ground engineering techniques and services including ground
investigation, general and specialist piling, rail geotechnical
engineering, modular foundations, and ground improvement and
stabilisation services.
Van Elle operates through three
divisions: General Piling, Specialist Piling and Rail, and Ground
Engineering Services; and is focused on diverse end markets
including residential and housing, infrastructure and regional
construction - across which the Group has completed more than
20,000 projects over the last 35 years.
