Fleet expansion with 3 new Hugins formally signed

Nov 14, 2023 | News

From the left: Espen Henriksen, Kongsberg Discovery, Bengt Finnøen, Argeo, Stene Førsund, Kongsberg Discovery, Elisabeth Andenæs, Argeo, Martine Løvaas, Argeo, Trond F. Crantz, Argeo, Atle Gran, Kongsberg Discovery, Kenneth Mitsem, CSI Leasing and Stian Kristoffersen, Kongsberg

In September Argeo announced the purchase of three new advanced AUV’s from Kongsberg, two Hugin Superiors and one Hugin 6000. Yesterday, the contracts for all three vehicles were formally signed at Kongsberg’s premises in Horten.

“Following this expansion, Argeo will have the most advanced AUV fleet worldwide”, stated Argeo’s CEO, Trond Crantz back in September.

All three parties were present at the signing including representatives from Argeo, Kongsberg and financing partner CSI Leasing. The purchase is fully financed through a lease agreement with CSI and has a lease term of 4 years.

The first Hugin Superior is scheduled for delivery early Q4 2023, and the second Hugin Superior in Q1 2024. The full scope delivery will be finalized with the Hugin 6000 in Q1 2025. Argeo’s AUV fleet will thus consist of a total of 7 units by 2025, amplifying the company’s operational capacity, and enabling superior productivity. This puts Argeo in a unique position within both the marine minerals, oil and gas and the renewables segment, increasing efficiency and productivity substantially.

Read more about the agreement 
The Hugin Superior 

 

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...