Argeo AS

Regulatory Filings • Jun 28, 2023

Argeo granted new patent for electromagnetic method for tracking and detection of pipelines and power cables

Argeo granted new patent for electromagnetic method for tracking and detection of pipelines and power cables

Asker, 28. June 2023 – Argeo Robotics AS, a fully owned subsidiary of Argeo AS, has been granted a patent from the Norwegian Industrial Patent office (Patentstyret) for a subsea electromagnetic remote-sensing system for tracking of buried cables and pipelines below the seafloor.

This patent protects Argeo’s exclusive services with the products “Argeo Whisper” for finding and tracking pipelines and cables below or on the seafloor at depths not possible with conventional technology. Argeo Whisper is integrated on Argeo’ Autonomous Underwater Vehicle (AUV). It can also be installed on other subsea vehicles such as ROVs and can also be used when towed behind a surface vessel.

Argeo has developed a portfolio of electromagnetic source and receiver systems for AUVs, Underwater Intervention Drones and ROVs.

With the successful development of subsea electromagnetic technology and by establishing a significant patent portfolio around it, Argeo is now pursuing product sales and services utilizing Argeo Whisper in new markets segments with significant growth potentials.

“There is significant interest from the offshore windfarm and oil and gas industry in this technology for power cable and pipeline tracking, and this patent puts us in a strong position with a competitive edge” says Trond F. Crantz, CEO in Argeo.

“We are very pleased with the electromagnetic source and sensor technologies that are developed by Argeo Robotics, and protecting our inventions is something we consider of utmost importance.” says Thorbjørn Rekdal, CTO in Argeo.

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.