Argeo AS

Regulatory Filings • Aug 10, 2023

Argeo AS: Argeo granted new patent for an electromagnetic method for detection of buried objects

Argeo AS: Argeo granted new patent for an electromagnetic method for detection of buried objects

Asker, 10.08.2023 Argeo Robotics AS, a fully owned subsidiary of Argeo AS, has been granted a new patent from the Norwegian Industrial Patent office (Patentstyret) for a subsea electromagnetic remote-sensing system for detecting buried objects below the seafloor.

This patent protects Argeo’s exclusive services with the “Argeo Whisper” system for detecting metal objects on or buried under the seafloor. This technology does not only enable a significant increase in efficiency on how any buried objects, explosives and debris are detected and positioned in decommissioning surveys, pipelines, electric power cables etc. Another step change with this technology is its ability to also detect metals that are not magnetized and as such not observable using the methods commonly used by the industry today. The patent protects the use of the system on any subsea vehicle, and when the system is towed behind a surface vessel. Argeo Whisper is currently integrated on Argeo’ Autonomous Underwater Vehicle (AUV) combined with our unique EM processing methodology.

Argeo has developed a strong portfolio of patents that protects exclusive utilization of source and receiver systems for AUVs, Underwater Intervention Drones and ROVs. This new patent is the third (3) patent granted Argeo from its Intellectual Rights portfolio in Argeo Robotics since listing on Euronext Growth in 2021.

“There is significant interest from customers in the offshore wind, oil and gas and marine minerals industry for the applications this technology can be used for and the challenges it can solve. The continuously growing IP portfolio shows the success of our sensor technology development, the importance of Argeo Robotics and the value this development creates for our shareholders now and in the years to come,” says Trond F. Crantz, CEO in Argeo.

“The Argeo Whisper product is a gamechanger for the subsea service market, and we are delighted to have been granted this patent,” says Thorbjørn Rekdal, CTO in Argeo.

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, 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.