Argeo AS

Regulatory Filings • Dec 21, 2021

Argeo AS – Argeo signs contract with undisclosed customer for ultra-deep water AUV survey work

Argeo AS – Argeo signs contract with undisclosed customer for ultra-deep water AUV survey work

Asker, 21.12.2021: Argeo confirms that a contract comprising of AUV (Autonomous Underwater Vehicles) Ultra Deep-Water work for an undisclosed customer has been signed.

The first SeaRaptor “Alpha”, is scheduled to commence work directly after completing Sea Acceptance Test and delivery to Argeo. The project will commence in March 2022 with an estimated completion in April.

- We are pleased to announce this project as it requires the highest-quality and detail and the requirement of Ultra Deep-Water vehicles to get the job done, says Argeo CEO, Trond Crantz.

- The project will prove the SeaRaptor product near the very limits of its build specification and make use of all the high-quality sensors integrated into the vehicle

We are very excited that our first SeaRaptor is continuing with commercial operations having completed a rigorous test program beforehand.

Argeo currently has three high specification AUV’s. The AUV is modular and very mobile with supporting systems which can be strategically placed in Argeo’s main Geomarkets for rapid deployment serving our global customers with state-of-the-art technology and data. All data collected is 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 enable deep-sea surveys to the benefit of marine industries including Installations & Infrastructure, Offshore Wind, Oil & Gas and Deep-Sea Minerals.

For more information, please contact:

Trond Figenschou Crantz, CEO

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.

www.argeo.no