Argeo Inks $4.5 Million Project Deal for New Hugin 6000

Argeo confirms that a 12-month contract has been signed for AUV work using the company´s newly purchased Hugin 6000 AUV 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 milion.

"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," said Argeo CEO Trond Crantz.

Argeo reports that it 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.