Argeo AS

Regulatory Filings • Jun 14, 2023

Argeo has completed the Mid-Atlantic massive sulphides exploration project for Republic of Poland

Argeo has completed the Mid-Atlantic massive sulphides exploration project for Republic of Poland

Asker, 14.06.2023: Argeo has completed its multi-sensor data acquisition with AUV for the Polish Geological Institute – National Research Institute (PGI-NRI) at the Mid-Atlantic Ridge, announced 17 February 2023.

Under the contract Argeo has performed high-resolution near-seafloor geophysical- and environmental data acquisition for deep-sea massive sulphides exploration project in the Polish contract area under the provisions and scope of the Government of Poland Contract with the International Seabed Authority (ISA). The project was entrusted to PGI-NRI by the Ministry of Climate and Environment as a part of the implementation of the National Raw Materials Policy.

“We are pleased to announce that the marine minerals acquisition project for PGI-NRI has been completed and Argeo Searcher is already enroute to start our next project on the Northern Mid-Atlantic Ridge (Knipovich Ridge) for Norwegian Petroleum Directorate (NPD)”, says Trond Crantz, CEO in Argeo.

Another important milestone in Argeo’s technical and commercial development was reached by fully utilizing our unique digital platform Argeo SCOPE for the entire down -and upstream flow of data between Argeo Searcher, Argeo’s and PGI-NRI onshore teams for this project. This included all dataflow and joint decision management, visualization, and general project management.

For the project Argeo utilized its vessel Argeo Searcher with its dual-AUV setup equipped with state-of-the-art sensors, including integrated Electro-Magnetic (EM) sensor technology, delivering valuable high-quality data with applications across the Marine Minerals value chain – from environmental impact assessment and early exploration to resource assessment and extraction monitoring.

“We are very pleased with the successful completion of the work, especially under such challenging conditions. The scope and quality of the geophysical and environmental data is a major step forward in fulfilling our commitments, and the results will contribute to the benefit of the deep-sea community. Our next steps will be a further detailed exploration of prospective areas and environmental studies to define and preserve biologically valuable areas", says Mateusz Damrat, Director of PGI-NRI.

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.