Argeo AS

Regulatory Filings • May 11, 2021

Argeo AS: Orders a second SeaRaptor newbuild AUV from Teledyne Gavia

Argeo AS: Orders a second SeaRaptor newbuild AUV from Teledyne Gavia

Asker, 11 May 2021: Argeo has ordered its second and identical newbuild SeaRaptor 6000 Autonomous Underwater Vehicle “AUV” from Teledyne Gavia with delivery taking place early Q4 2021.The delivery includes several ancillary system components, software and crew training is an identical system to the first allowing the two systems to work in parallel for project requiring larger seabed footprint and productivity.

The system will be tendered for projects globally, focusing on deep water projects and campaigns.

Teledyne Gavia SeaRaptor 6000

The Company is pleased to announce that the design, specification, and procurement of the AUV have been successfully carried out in close cooperation with Teledyne Gavia, a global leader in the provision of Unmanned Maritime Systems, Teledyne Marine. The detailed work carried out ensures that Argeo will receive a state-of-art high specification AUV. The AUV is modular and very mobile (air transportable) with supporting systems which can be strategically placed in our Geomarkets for rapid deployment between regions. All data collected will be processed onboard (the AUV) using onboard-postprocessing and mosaicking software to allow quick turnaround during missions and improved decision making for the customer.

The AUV system will be the Company’s third AUV contributing to our growing robotics fleet and enable deep-sea surveys to the benefit of marine industries including: Installations & Infrastructure, Offshore Wind, Oil & Gas and Deep Sea Minerals.

Mr. Trond F. Crantz, CEO of Argeo commented as follows:

“The ordering of this second newbuild AUV shows Argeo’s ability to fast-forward our business and growth plan for an attractive market segment where high quality data is needed to improve decision making. With this investment Argeo now have the ability to become a strategic pure play deep water service provider were we can offer 6000m rated AUV’s globally and run the two units in parallel to provide near 2x seabed footprint for specific projects.”

For more information, please contact:

Trond Figenschou Crantz, CEO

Email: trond.crantz@argeo.no

Phone: +47 976 37 273

www.argeo.no/news/

Argeo in brief

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 market segments in 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.