Argeo AS

Regulatory Filings • Jun 12, 2024

Argeo AS: Argeo selected for RWE Canopy offshore wind project

Argeo AS: Argeo selected for RWE Canopy offshore wind project

Asker, 12.06.2024 Argeo is pleased to announce contract award to execute initial site investigation survey for RWE’s Canopy offshore wind project, in Northern California.

The contract includes a 40-day initial site investigation survey, with an option for an additional 30 days. The project's first activities will commence in June, with Argeo utilizing its Hugin 6000, equipped with latest state-of-the-art sensors, and a chartered vessel.

"We are pleased to announce the contract with RWE. We bring our expertise in autonomous underwater vehicle (AUV) surveys to the RWE Canopy offshore wind project, and we are confident this project will pave the way for future growth and innovation in the renewable energy industry.” states Argeo CEO, Trond Figenschou Crantz.

By comprehensively ‘mapping’ the seafloor, Argeo will assist RWE in acquiring data and deliver reports to better understand biodiversity, habitats, and environmental factors to ensure responsible project planning and design.

The 1.6 GW offshore wind project will be one of the first commercial scale floating offshore wind farms that will deliver sustainable power and help firmly position the North Coast as a hub for the floating offshore wind industry on the West Coast.

"We look forward to working with Argeo on RWE's site investigation campaign for our first commercial-scale floating wind project," said Rob Mastria, Project Director for Canopy Offshore Wind. "Argeo has worked with RWE's site investigation, stakeholder and development teams to put together a high-quality technical solution that considered feedback from state and federal agencies and the local community to ensure this work minimizes impacts to ocean users and marine life."

“This contract with RWE is a pivotal step for Argeo with expansion of our activities in North and South America,” states Argeo VP NSA, Dave Gentle. “This project is essential in advancing our capabilities within the renewables sector, specifically in floating offshore wind. By securing an important contract in this market, we not only enhance our technological expertise but also reinforce our commitment to supporting the transition to sustainable energy sources. This endeavor positions Argeo at the forefront of innovation and excellence in renewable energy projects across the Americas.”

For more information, please contact:

Trond Figenschou Crantz, CEO

Email: trond.crantz@argeo.no

Phone: +47 976 37 273

About Argeo

Argeo is an Offshore Service company with a mission to transform the ocean surveying and inspection industry by utilizing autonomous surface and underwater robotics solutions. Equipped with unique sensors and advanced digital imaging technology, the Autonomous Underwater Vehicles (AUV’s) will significantly increase efficiency and imaging quality in addition to contributing to significant reduction in CO2 emissions from operations for the global industry in which the Company operates.

The Company’s highly accurate digital models and digital twin solutions are based on geophysical, hydrographic, and geological methods from shallow waters to the deepest oceans for the market segments Oil & Gas, Renewables, Marine Minerals and Offshore Installations. Argeo was established in 2017 and has offices in Asker (Oslo), Tromsø, Stockholm, Edinburgh, Houston, Rio de Janeiro, and Singapore. Since its incorporation, Argeo has carried out complex projects for some of Norway’s largest companies in the field.

The company is listed on The Euronext Growth in Oslo under the ticker: ARGEO.

Please visit www.argeo.no for more information.