An OMM spokesperson said the tool would be used at a "specific" time in the cable installation process, reducing the need for deep-sea divers.
The spokesperson added the tool would help reduce costs and timeframes and increase safety in installation.
Subsea Innovation is currently manufacturing the tool at its Darlington facility in northeast UK. OMM expects the new piece of equipment to be in operation from June, following sea trials.
The spokesperson was unable to give more information on the tool but said it would be unveiled in June.
The Grow:OffshoreWind fund was launched in 2013, backed by the UK government's regional growth fund, the department for business innovation and skills, and the Manufacturing Advisory Service. Its aim is to support the development of a UK-based supply chain for the offshore wind market.
OMM was involved in the construction of the BorWin1, BorWin2 and HelWin1 offshore wind export cable projects in the German North Sea. In the UK, OMM has undertaken work for the developers of Dogger Bank as well as contributing to Sheringham Shoal, Greater Gabbard, Burbo Bank and Barrow offshore wind farms.