Argeo AS

Regulatory Filings • Jun 16, 2022

Argeo AS – Argeo Argus commercially launched:

Argeo AS – Argeo Argus commercially launched:

- major breakthrough in commercial uncrewed solutions for the offshore energy sector

Asker, 16.06.2022: Argeo has launched the first uncrewed, remotely supervised survey and inspection vehicle, named Argeo Argus. The Argus USV (Uncrewed Surface Vehicle) will do advanced mapping and inspection services using robotics and autonomous ocean space technology for offshore and energy projects in water depths from 2-200 meters.

«Investments in the offshore energy sector are growing at a massive rate. The Argeo Argus is a major breakthrough in commercial uncrewed solutions for the offshore energy sector», says CEO Trond Crantz at Argeo.

«We believe Argeo Argus is the perfect match for developers in this market segment. The demand for mapping & inspection services is increasing and we expect that offshore wind will be an important business segment for years to come», Crantz continues.

New records within offshore wind

According to Rystad Energy, offshore capacity in Europe will break records in 2022, especially driven by UK developments. The continent’s capacity additions in 2022 will reach 4.2 GW, more than twice the 2021 total of 1.8 GW and topping the previous annual record of 3.8 GW set in 2019.

«Yearly global spending on offshore wind will double to more than USD 100 billion in 2030. The demand for accurate mapping the oceans, will increase rapidly. Argeo Argus uses state-of-the-art sensors and robotics which gives the best possible data resolution in the market today», says Crantz.

The Argeo Argus is a multi-purpose uncrewed vehicle for offshore and coastal applications, offering a stable, low emission hybrid platform equipped with state-of-the-art navigation, supervision, and hydrographic and geophysical technology.

Key benefits of the Argeo Argus includes:

• Full position control enabling worldwide safe and remote supervised operations 24/7

• High-resolution data quality for detailed seabed mapping and shallow water geology from integrated geophysical & hydrographical sensors

• Fast and effective with up to 30 operating days and hybrid propulsion system, enabling cost effective shore-to-shore operations

• Tailor made to comply with governmental rules and regulations

• Operational and sensor configuration flexibility with configurable back-deck with two moonpools.

• Can potentially be tooled with Argeo’s novel Electromagnetic technology for UXO investigations and a new Ultra High Resolution (UHR) seismic system

• Data acquired by Argus will be integrated into Argeo’s Digital Ocean Space platform

«The market for Argeo Argus is not only within offshore wind. We also see material demand within Oil & Gas and mineral extraction and for environmental monitoring and inspections of infrastructure and installations», says Crantz.

95% reduced carbon footprint

The vessel was built at Maritime Robotics in Trondheim, Norway, in close collaboration with Argeo. Main focus was to reduce the carbon footprint of the vessel.

«We managed a 95% reduction in the emission compared to a traditional manned vessel. Our goal is 100%, which we hope to reach soon», says Crantz.

The name Argus comes from Greek mythology, a giant with a hundred eyes.

«In Argeo Argus case, the eyes are our sensors and cameras», says Crantz.

Argeo currently owns and operates four AUV’s, two Hugin AUV’s (Autonomous Underwater Vehicle) and two Sea Raptor AUV’s.

Watch the Argeo Argus video here: https://argeo.no/launch-argeo-argus

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 Infrastructure, Offshore Wind, Oil & Gas and Deep-Sea Minerals. Argeo was established in 2017 and has offices in Asker and Tromsø, Norway. 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.