Argeo AS

Environmental & Social Information • Mar 20, 2023

Argeo signs survey contract with Stromar Offshore Wind Farm

Argeo signs survey contract with Stromar Offshore Wind Farm

Agreement builds in Net Zero commitments from the outset

Asker, 20 March 2023: Offshore service company Argeo has signed a survey contract with Stromar, a consortium made up of Ørsted, Renantis and BlueFloat Energy. The contract will start in Q3 2023.

Stromar has awarded Argeo a contract to conduct a geophysical survey in the project’s development area, located in the Moray Firth off the coast of Scotland. The Stromar offshore wind farm covers an area of 256 km2 and the project aims to reduce greenhouse gas emissions throughout the wind farm's life cycle, including survey activities. To meet Stomar’s needs, Argeo will mobilize its low-emission uncrewed surface vessel (USV) “Argeo Argus” to carry out the survey. Using an uncrewed solution will reduce the survey vessel emissions by up to 95%. Stromar's goal is to deliver world-class floating offshore wind projects in Scotland.

“Stromar is an exciting venture in offshore wind, and I’m very pleased that the consortium chose Argeo for their first commercial survey with an uncrewed surface vessel. This shows that we are developing attractive technology and can offer cost efficient and environmentally friendly solutions to the offshore wind market going forward”, said VP of Sales in Argeo, Ruben Kornmo Janssen.

Stromar Project Director, Nicholas Ritchie, said: “Ensuring Stromar leads the way in floating wind as part of the transition to renewable energy is of paramount importance. We’re determined that every aspect contributes to our Net Zero future, even from survey stage to demonstrate our commitment to a truly green future.”

The survey is scheduled for Q3 2023, subject to the relevant permit approvals, and includes the option for a related export cable route (ECR) survey.

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.

About Stromar

Stromar is a consortium made up of Ørsted, Renantis and Blue Float Energy. The consortium brings together Ørsted's unparalleled record in offshore wind, having developed and built more offshore wind projects than any other company in the world with BlueFloat Energy's unique knowledge and experience in developing financing and executing floating wind projects and Renantis' pioneering approach and experience with community engagement in Scotland in particular.

The Stromar floating wind project will be located off the coast of Caithness, around 50 km east of Wick in Scotland and has a seabed lease agreed with Crown Estate Scotland for up to 1GW.