Argeo signs survey contract with Stromar Offshore Wind Farm

20 Mar 2023 08:00 CET

Agreement builds in Net Zero commitments from the outset

Asker, 20 March 2023: Offshore service company Argeo has signed a survey
contract with Stromar, a consortium made up of Ørsted, Renantis and BlueFloat
Energy. The contract will start in Q3 2023.

Stromar has awarded Argeo a contract to conduct a geophysical survey in the
project’s development area, located in the Moray Firth off the coast of
Scotland. The Stromar offshore wind farm covers an area of 256 km2 and the
project aims to reduce greenhouse gas emissions throughout the wind farm's life
cycle, including survey activities. To meet Stomar’s needs, Argeo will mobilize
its low-emission uncrewed surface vessel (USV) “Argeo Argus” to carry out the
survey. Using an uncrewed solution will reduce the survey vessel emissions by up
to 95%. Stromar's goal is to deliver world-class floating offshore wind projects
in Scotland.

“Stromar is an exciting venture in offshore wind, and I’m very pleased that the
consortium chose Argeo for their first commercial survey with an uncrewed
surface vessel. This shows that we are developing attractive technology and can
offer cost efficient and environmentally friendly solutions to the offshore wind
market going forward”, said VP of Sales in Argeo, Ruben Kornmo Janssen.

Stromar Project Director, Nicholas Ritchie, said: “Ensuring Stromar leads the
way in floating wind as part of the transition to renewable energy is of
paramount importance. We’re determined that every aspect contributes to our Net
Zero future, even from survey stage to demonstrate our commitment to a truly
green future.”

The survey is scheduled for Q3 2023, subject to the relevant permit approvals,
and includes the option for a related export cable route (ECR) survey.

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 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 (AUV’s) will significantly
increase efficiency and imaging quality in addition to contributing 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.

About Stromar
Stromar is a consortium made up of Ørsted, Renantis and Blue Float Energy. The
consortium brings together Ørsted's unparalleled record in offshore wind, having
developed and built more offshore wind projects than any other company in the
world with BlueFloat Energy's unique knowledge and experience in developing
financing and executing floating wind projects and Renantis' pioneering approach
and experience with community engagement in Scotland in particular.

The Stromar floating wind project will be located off the coast of Caithness,
around 50 km east of Wick in Scotland and has a seabed lease agreed with Crown
Estate Scotland for up to 1GW.

More information:
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585631_Stromar USV slide.pdf