Argeo AS

Regulatory Filings • Nov 16, 2022

Argeo granted patent for subsea electromagnetic remote-sensing system

Argeo granted patent for subsea electromagnetic remote-sensing system

16. November 2022 – Argeo Robotics AS, a fully owned subsidiary of Argeo AS, has been granted a patent from the Norwegian Industrial Patent office (Patentstyret)for a subsea electromagnetic remote-sensing system.

Argeo has developed a portfolio of electromagnetic source and receiver systems for Autonomous Underwater Vehicles, Underwater Intervention Drones and ROVs. This patent protects Argeo’s exclusive services with the products “Argeo Whisper” and “Argeo Discover”. "Argeo Whisper” is an AUV and ROV system developed for localizing and tracking buried pipelines as well as detecting buried objects in a decommissioning survey. It can also be used for detecting unexploded ordnances. “Argeo Discover” is an application or detecting, delineating, and characterizing deep sea mineral deposits or other conductive objects below the seafloor utilizing an electromagnetic source integrated in an AUV or ROV.

Argeo has developed an electromagnetic source that is designed to operate down to 6000 meters water depth. This technology enables ultra-high resolution characterization of minerals that has previously not been possible. With Argeo Discover added to Argeo’s AUV and ROV sensor portfolio, Argeo is in a sole position to provide effective ultra-high resolution data acquisition for both larger regional and detailed local exploration over large areas with deposits utilizing its fleet its AUVs rated to 6000m water depth.

“Sourcing of critical metals and the introduction of new elements to the value chains is crucial to satisfy mineral requirements of the Energy transition. Deep-sea minerals present a potential solution in the transition enabling the scaling of various green technologies that demand vast amounts of diverse metals. This prompts a surge of deep-sea mineral exploration activities worldwide, with Norway currently preparing a decision on the opening of its continental shelf due in Spring 2023. Argeo is in a strong position to address deep-sea exploration needs with its unique AUV sensor capabilities” says Trond F. Crantz, CEO in Argeo.

“We are very pleased with the electromagnetic source and sensor technologies that are developed by Argeo Robotics, and protecting our inventions is something we consider of utmost importance” says Thorbjørn Rekdal, CTO in Argeo.

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 a 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.

The company is listed on The Euronext Growth in Oslo under the ticker: ARGEO. Please visit www.argeo.no for more information.