Argeo AS

Regulatory Filings • Apr 30, 2024

Argeo further enhances competitive edge in subsea inspection and marine minerals markets with latest electromagnetic sensor system patent

Argeo further enhances competitive edge in subsea inspection and marine minerals markets with latest electromagnetic sensor system patent

Asker, 30. April 2024 – Argeo Robotics AS, a wholly owned subsidiary of Argeo AS, has been granted a new patent from the Norwegian Industrial Patent office (Patentstyret) safeguarding the innovative design of the high-performance electromagnetic system “Argeo Listen”.

The patent protects an innovative sensor configuration for subsea vehicles (AUV’s, ROV’s etc) that provides even higher reliability, better signal, and improved detection. The innovation is a key part of Argeo Listen. Argeo Listen, the company’s unique, reliable, and versatile system used in subsea inspections, marine mineral resource exploration, and power cable tracking has provided the company with a global competitive advantage. The system has been in commercial use for more than a year and has demonstrated excellent performance in pipeline inspections for major Oil & Gas clients and for several customers in the Marine Mineral exploration space. It enables contactless and continuous inspection of buried subsea pipelines and can detect damage and the integrity of corrosion protection systems for even buried pipelines not accessible with conventional contact methods used from ROVs. The system is also a requirement for AUV based Marine Mineral exploration surveying. Argeo is the only company with a fully integrated electromagnetic sensor system.

This latest patent marks the fifth (5) successful grant for Argeo from its Intellectual Rights portfolio under Argeo Robotics since its listing in 2021.

Trond F. Crantz, CEO of Argeo, emphasizes, "The implementation of Argeo Listen on our Hugin Superior fleet of AUVs has not only given us a competitive edge in our markets but has also delivered excellent results to our clients, enabling informed decision-making."

Thorbjørn Rekdal, CTO at Argeo, states, "I am pleased to see our AUV's electromagnetic sensor system design demonstrating outstanding performance in the market. Obtaining a patent to safeguard this innovation further solidifies our position."

For more information, please contact:

Trond Figenschou Crantz, CEO Argeo AS

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, Houston, 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.