Argeo AS

Regulatory Filings • Mar 13, 2023

Argeo teams up with global multi-client player on groundbreaking MC prospecting survey for deep-sea minerals

Argeo teams up with global multi-client player on groundbreaking MC prospecting survey for deep-sea minerals

Asker, 13 March 2023: Argeo is pleased to announce a collaboration project with an undisclosed long-standing multi-client player to conduct the world’s first multi-client data collection at the Mid-Atlantic Ridge for the emerging deep-sea minerals market.

The prospecting survey will be carried out by Argeo in an international seabed area regulated by the International Seabed Authority (ISA).

Data needed for better decisions in the emerging marine minerals market

In collaboration the parties will process the acquired unique near-seafloor data from the mid-Atlantic Ridge and the data will be uplifted through respective companies’ data processing and interpretation solutions and made available for subsequent licensing by the clients. The collected data will be used to identify potential deep-sea mineral occurrences such as Seafloor Massive Sulfides (SMS) or hydrothermal vent fields, and Polymetallic Crusts (PMC) – and provide valuable environmental, geological, and geophysical information for DSM stakeholders across the value chain.

The survey will be conducted by Argeo Searcher using SeaRaptor autonomous underwater vehicles (AUVs) carrying a suite of sensors, which will provide a wide range of data, including high-resolution bathymetry and sonar imagery, ultrahigh-definition photographs of the seafloor, electric and magnetic data, shallow seismic data, and water chemistry data. All data will be available for licensing and analysis by interested parties through Argeo’s cloud-based digital platform Argeo SCOPE.

-As we are in the very early stages of imaging the deep oceans and understanding the complexity of future deep-sea minerals exploration, it is therefore a great need for geological, geophysical, and environmental mapping of the seafloor to understand the prospectivity of the area and the local environmental conditions, says Argeo CEO Trond Crantz.

– Having a global collaboration partner onboard with us on this project means that we can leverage our joint expertise to enable better decisions for our clients with high-quality data and data products, Crantz continues.

This multi-client survey is part of a larger campaign conducted by Argeo in the mid-Atlantic Ridge, which contributes to even better optimization of operations and its environmental footprint while enabling our clients access to early and cost-effective data.

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.