Argeo AS

Regulatory Filings • Feb 17, 2023

Argeo deep dives into the marine minerals market

Argeo deep dives into the marine minerals market

Asker, 17 February 2023: Argeo has been awarded a contract comprising of multi-sensor data acquisition with AUV for the Polish Geological Institute – National Research Institute (PGI-NRI), to fulfil seabed mineral exploration work under the provisions and scope of the Government of Poland Contract with the ISA.

Under the contract, Argeo will perform high-resolution near-seafloor geophysical- and environmental data acquisition for deep-sea minerals exploration in the Polish contract area at the Mid-Atlantic Ridge. More information to follow.

- We are very pleased to be awarded this contract as it will prove Argeo’s capabilities in serving the emerging Marine Minerals (MM) industry, and also demonstrate our unique array of Electro Magnetic sensor systems, says Argeo’s CEO, Trond Crantz. Argeo’s marine minerals solution has been developed to deliver high-quality pelagic, benthic, and subsurface data that are key in addressing the challenges of remoteness and scale, complex geological settings, as well as environmental sensitivity associated with deep-sea mineral deposits, Crantz continues.

- The work will be carried out by our new versatile and fuel-economic subsea/survey vessel Argeo Searcher. The Argeo Searcher has been converted to cater for large scale deep-water work with a complete set-up for two Autonomous Underwater Vehicles (AUVs) and prepared for Work Class ROV systems (WROV).

Argeo’s fleet of AUV’s are equipped with state-of-the-art sensors, including integrated proprietary sensor technology, delivering valuable high-quality data with applications across the MM value chain – from environmental impact assessment and early exploration to resource assessment and extraction monitoring.

About Polish Geological Institute – National Research Institute (PGI-NRI)

The Polish Geological Institute - National Research Institute (PGI-NRI) for over 100 years has been carrying out tasks in geology for the benefit of the Polish State. The Institute fulfils the polish geological Survey's functions and ensures monitoring of the geological environment, provides early warning of natural hazards, and secures national security in mineral resources management.

Given the above, the Chief National Geologist (Ministry of Climate and Environment of the Republic of Poland) entrusted PGI-NRI with the implementation of preparatory works and organisation of a comprehensive research Survey in the Atlantic Ocean, under the provisions and scope of the first five-year term of the Contract with ISA. The overall goal of the entire exploration program is collecting data on the location and characterisation of seafloor massive sulphides (SMS) deposits along the Mid-Atlantic Ridge, covered by the Contract.

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 (AUV’s and USV’s). Equipped with unique sensors and advanced digital imaging technology, Argeo’s uncrewed vessels will significantly increase efficiency and imaging quality in addition to contributing to significant reduction in CO2 emissions from operations for the global industry.

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.