Ocean surveying and inspection specialist Argeo Subsea, CSI Nordics and
Kongsberg Discovery have signed a three-party Certificate of Delivery and
Acceptance for a new HUGIN Superior AUV. The agreement, confirmed at Oceanology
International in London, supports Argeo's ambitious fleet expansion plans, as
the firm looks to build the world's most advanced AUV fleet, with seven high
specification units. Argeo already has one HUGIN Superior in service.

CSI Nordics, a subsidiary of CSI Leasing, one of the largest independent
equipment leasing in the world, will purchase the unit from Kongsberg Discovery,
entering into a long-term leasing agreement with Argeo.

Integrated excellence

Argeo CEO Trond Crantz says the deal will amplify the company's operational
capacity, putting it in "a unique position within both the marine minerals, oil
and gas and the renewables segment, increasing efficiency and productivity
substantially."

He comments: "Our expansion plans will establish us as the premier authority in
AUV technology worldwide. The strategic combination of Kongsberg's highly
advanced AUVs with Argeo's proprietary cutting-edge electromagnetic sensor
system, Argeo LISTEN, propels us ahead of competitors.

"Argeo LISTEN allows for efficient inspection of cables and pipelines, both
buried and on seafloor, as well as rapid estimation of cathodic protection
status and remaining lifetime. By integrating this state-of-the-art system into
the Hugin Superior, our clients can expect expedited project completion and
access to comprehensive data derived from multiple sensors concurrently,
ensuring unparalleled quality and efficiency." 

Partnering for success

Speaking on behalf of CSI, Kenneth Mitsem, General Manager at CSI Nordics, adds:
"We specialize in crafting leasing solutions that are both flexible and
sustainable, designed to meet the rapidly changing needs of the modern market.
Our strategic approach focuses on making advanced technology readily accessible,
enabling businesses to quickly respond to new challenges and maintain a
competitive edge. 

"We're proud to collaborate with Kongsberg and Argeo to develop smart leasing
options, facilitating easier access to innovations like the HUGIN Superior from
Kongsberg Discovery. This partnership underscores our shared commitment to
enhancing the acquisition of technology critical for thriving."

Raising the bar

The Superior sits at the top of Kongsberg Discovery's HUGIN AUV family of
products, which, after 30 years of developmental milestones, is the world's most
commercially successful range of AUVs.

The unit's standard specifications are second to none. It includes a HISAS 1032
dual receiver, EM2040 Mk2 Multibeam Echosounder, a UHD still image camera, laser
profiler, sub-bottom profiler, magnetometer, in addition to sensors for methane,
carbon dioxide, oxygen, and more. Combined with the latest in navigation
technology, including MicroNavigation systems for enhanced accuracy, the
Superior raises the bar for AUV capability.

Competitive advantage

Stene Førsund, EVP, Kongsberg Discovery, says: "We're delighted to be
consolidating our relationship with Argeo and CSI, with the leasing of this
advanced, high specification technology.

"With their second HUGIN Superior onboard they'll be able to offer clients
excellence in high-resolution seabed mapping and imaging, with the functionality
needed for a broad range of applications, and the precision and reliability to
go further, deeper and into more detail on missions, delivering powerful
competitive advantage. Argeo can look forward to achieving some Superior results
in the very near future."

In addition to the Superior, the HUGIN family of AUVs includes a variety of
models customised to meet diverse markets, budgets and operational flexibility.
This includes the HUGIN Endurance, capable of conducting missions over a range
of 1,200 nautical miles, and the soon-to-launch HUGIN Edge, weighing only 300kg
and less than 4m in length.

Kongsberg Discovery is a standalone business within the KONGSBERG Group,
focusing exclusively on cutting-edge underwater robotics and sensor technology
innovations.


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 (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, Edinburgh, Houston, Rio de Janeiro,
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.