Adepth and DeepOcean are joining forces

July 12, 2021

Adepth and DeepOcean are joining forces

— We are very pleased to announce and welcome DeepOcean as an industrial investor and partner in Adepth, says Hans Petter Klohs.

Joining forces to explore the deep sea for opportunities.

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— We are very pleased to announce and welcome DeepOcean as an industrial investor and partner in Adepth Minerals. Founded in 2020 by an experienced team with complementary experience from geoscience and subsea operations, ADEPTH has spent the time well and build a robust platform for growth. DeepOcean's investment and collaboration will accelerate the development of the company, mature technology projects developed over the past year and secures that we are fully funded until first licence awards on the NCS in 2023/2024, says Hans Petter Klohs, Executive Chairman of the Adepth Minerals’ Board.

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DeepOcean Group (“DeepOcean”) has signed an agreement to invest in Adepth Minerals (“Adepth”), a company built for sustainable, and data driven exploration and extraction of deep-sea minerals. Through its investment, DeepOcean will acquire a majority stake in the company.

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— This collaboration builds on the common goal to create transformation through development of a sound platform for data driven exploration of deep sea minerals. We are looking forward to collaborating, with the ultimate goal of creating value for all stakeholders, says Anette Broch Mathisen Tvedt, CEO Adepth Minerals.

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— With this investment into a world-class team and an exciting new industry, DeepOcean is progressing its evolution into a world-leading ocean services provider. Alongside our continued core service segment of oil & gas and our increasing exposure to offshore renewables, deep sea minerals is an additional area where we see great potential for DeepOcean. By bringing our subsea and project execution experience to Adepth, we will together strive to support and enable the energy transition and sustainable use of ocean resources, by means of sourcing and extracting sought-after materials in an environmentally responsible manner, says Øyvind Mikaelsen, CEO DeepOcean Group.

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Officials from Adepth and DeepOcean Group. Credit: DeepOcean Group.

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Adepth will continue to operate as a standalone company and brand, benefiting from the full support of the joint resources and vast subsea experience. Furthermore, the investment and DeepOcean’s expertise and robust operational platform will enable Adepth to execute an environmental research expedition in collaboration with the University of Bergen and Seabed Solutions (Adepth’s second largest stakeholder). This collaboration will enable us to continue to develop technology and how we explore, with a strong focus on minimizing our environmental foot print and reducing emissions.

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— With the Norwegian continental shelf possibly opening for deep sea mineral exploration in 2023, we are taking the opportunity to be part of what will be a new high potential industry for Norway. Norway is in a unique position to be a frontrunner developing a world class regulated and sustainable framework for deep sea minerals, to be adapted globally. Through the transaction with DeepOcean, Adepth gains a new partner with an industrial perspective that has long-standing bespoke project management experience within the subsea field and provides a robust operational platform to support our goal of becoming a leading deep sea mineral exploration company, says Anette Broch Mathisen Tvedt, CEO and co-founder of Adepth.

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About Adepth Minerals

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Adepth Minerals AS is founded by an experienced team with background from geoscience and subsea operations. The company is based in Bergen, Norway, a hub for emerging subsea technologies with the University in Bergen leading research into deep sea minerals, and a cluster of subsea companies developing the next generation of sustainable ocean technologies.

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Adepth’s mission is to find and extract commercial deep sea minerals through sustainable and datadriven marine operations using new technology with low carbon intensity and by integrating big data and artificial intelligence for prospect analysis and risk assessment. Adepth believes it can play an important and positive role in powering the transition to a low carbon economy by performing sustainable exploration and extraction of deep sea minerals required in the production and storage of renewable energy.

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About DeepOcean

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DeepOcean is a world-leading ocean services provider, enabling the energy transition and sustainable use of ocean resources by focusing on digitally enabled, remote unmanned and low carbon operations. The company serves the offshore industry with (1) Survey, (2) Engineering, Project Management and Installation, (3) Maintenance and Repair, and (4) Recycling services and thereby supporting its clients through the full asset lifecycle.

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DeepOcean delivers value to three offshore markets; Renewables, Oil & Gas and Ocean Solutions, incl. Subsea Mining, with industry leading engineering and project management competence, state-of-the-art vessels, over 50 ROVs and Trenchers, and an in-house tool manufacturing and extensive ready to use tool pool. The company has offices in Africa, Europe and the Americas.

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