Argeo AS – Announces first contract for Argeo Searcher and both SeaRaptors for ultra-deep water AUV survey work

16 Nov 2022 10:00 CET

Asker, 16.11.2022: Argeo confirms that a contract comprising of Argeo Searcher
and both SeaRaptor AUV’s (Autonomous Underwater Vehicles) for Ultra Deep-Water
work in the North Atlantic is agreed.

The project for Argeo Searcher and both of our SeaRaptors is scheduled to
commence work directly after completing the vessel conversion project in January
2023 with a duration for 3-4 weeks and an estimated completion in February. The
project has good possibility for extension further into Q1-2023 (will be
announced separately).

- This project requires the highest-quality and detail and the requirement of
Ultra Deep-Water vehicles to get the job done and will take the SeaRaptor near
to the very limits of its build specification and make use of all the
high-quality sensors integrated into the vehicle, says CEO Trond Crantz of Argeo

- The project will provide high resolution environmental and potential marine
mineral resource assessment in addition to an advanced dual-AUV operation. Argeo
will retain show and marketing rights for the data and present the results using
our revolutionary digital visualization platform, Argeo SCOPE.

- We are very excited that our first Subsea vessel, Argeo Searcher, fully
equipped with both our high-tech SeaRaptors is going straight into commercial
operations having completed a rigorous conversion & shakedown program
beforehand, says Crantz.

Argeo currently has four 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.

Read more about Argeo Searcher here: https://argeo.no/argeo-searcher/
Read more about SeaRaptor AUV here: https://argeo.no/searaptor-6000/

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.

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

www.argeo.no

More information:
Access the news on Oslo Bors NewsWeb site

575875_Argeo Searcher and SeaRaptor.pdf