Argeo signs 12-month project for newly purchased Hugin 6000 with a net value contribution of 4,5 MUSD

Mar 24, 2022 | News, Uncategorized

In reference to earlier Stock Exchange announcement as of 24th March 2022 “Argeo purchases a new Hugin 6000 system from Kongsberg”.

ASKER, 24 March 2022:

Argeo confirms that a 12-month contract has been signed for AUV work using the Company´s newly purchased Hugin 6000 AUV (Autonomous Underwater Vehicle) with immediate contract start after AUV delivery to Argeo.

The project will commence H2 2022 with a minimum guaranteed duration of 6-months and a 6-month extension, with estimated completion in H2 2023. The total net value contribution the full 12 months is 4.5 MUSD.

– We are pleased to announce this contract as it confirms the attractivity of Argeo’s services and the financial strength in our business case. This further indicates a strong demand for our AUV’s in the market and this contract secures significant work for the Hugin 6000 bringing it straight into commercial operation, says Argeo CEO, Trond Crantz.

Argeo is currently experiencing a strong demand for all the company’s assets; the four high specification AUV’s, the Argus USV and the Eelume system. – We are in close dialog with many potential customers in several geomarkets for continued backlog building after the contract completes in 2023. The Hugin 6000 will include Argeo Robotics new electromagnetic sensors “LISTEN” and “WHISPER” in addition to supporting software from H2 2023, Crantz continues.

The Hugin 6000 AUV is modular and very mobile with supporting systems which can be strategically placed in Argeo’s main geomarkets for rapid deployment serving global customers with state-of-the-art technology and data. The Hugin 6000 AUV enables deep-sea ocean space mapping to the benefit of marine industries including Installations & Infrastructure, Offshore Wind, Oil & Gas and Deep-Sea Minerals.

READ MORE INVESTOR NEWS