Argeo AS

Capital/Financing Update • Dec 15, 2022

Argeo: NOK 20 million loan granted from Innovasjon Norge

Argeo: NOK 20 million loan granted from Innovasjon Norge

Asker – December 15th, 2022: Argeo has been granted a loan of NOK 20 million from Innovasjon Norge (Innovation Norway). The yield is 6,2%, the duration is six years and the loan is on certain conditions.

- We are very pleased to continue our collaboration with Innovation Norway (IN). Innovation Norway has played an important role for Argeo since its inception, and it is great to see that we are able to continue our relationship as Argeo continues its expansion internationally. We have an increasing amount of exciting contract opportunities, and this loan will increase our financial flexibility and give us additional leeway, says CEO Trond Crantz of Argeo.

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 (“AUVs”) will significantly increase efficiency and imaging quality in addition to contribute 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.

www.argeo.no