Argeo granted a patent on a high energy electromagnetic system

Aug 15, 2023 | News

Argeo Robotics AS, a fully owned subsidiary of Argeo AS, has been granted a new patent from the Norwegian Industrial Patent office (Patentstyret) safeguarding the innovative design of the groundbreaking “Argeo Discover” high-energy electromagnetic system.

“Argeo Discover”, the company’s ultimate marine mineral resource exploration solution represents a significant leap forward, driven by an authentic invention that enables high-energy electromagnetic signals through an ingenious integration with the energy bank within the Autonomous Underwater Vehicle (AUV). “Argeo Discover” unlocks deep insights into marine mineral deposits in the ocean which exceeds the capabilities of existing methodologies.

The patent ensures the exclusivity of Argeo’s pioneering services powered by the “Argeo Discover” system.

This latest patent marks the fourth (4) successful grant for Argeo from its Intellectual Rights portfolio under Argeo Robotics since its listing in 2021.

Trond F. Crantz, CEO of Argeo, stated, “As a leading provider of AUV-based marine mineral exploration surveys, Argeo continues to push boundaries, and ‘Argeo Discover’ positions us even further ahead of our competitors.” Johan Mattsson, Chief Physicist at Argeo, shared his enthusiasm, saying, “The game-changing ‘Argeo Discover’ empowers us to estimate the size of mineral deposits. I am tremendously excited about the prospects that this technology, developed by our skilled engineering team, will bring.”


Argeo delivers strong financial results in the first quarter

Argeo delivers strong financial results in the first quarter

Argeo achieved record growth in revenue, with an increase of 288% YoY to USD 9.5 million and an EBITDA of 2.9 million, an increase of +415% YoY. Net profit was USD 2.0 million, an increase of 238% YoY. The remaining backlog for 2024 now totals USD 54 million, whereas...