Adepth Minerals secures funding for core sampling solution
Norwegian deep sea mineral exploration company Adepth Minerals has received a NOK 11.7 million grant from Innovation Norway - triggering investment in state-of-the art FlexiCore technology enabling collection of deep sea mineral core samples in 2022.
Bergen, 23rd of November 2021
Together with cooperation partners Seabed Solutions and DeepOcean, Adepth Minerals will develop FlexiCore – a core sampling solutions that is more flexible and efficient than other coring solutions. It will be able to with the ability to core in sloping and variable terrain, core at an angle from vertical, change drilling bits at the seabed, and be able to take core samples on multiple locations without recovery to the surface due to its inherent mobility.
“Our FlexiCore technology will be able to take more and better cores on the seabed in less time. It will be an important element for realizing better knowledge-building based on a larger amount of data collected,” says Dr. Anette Broch Mathisen Tvedt, CEO of Adepth Minerals.
The three companies Adepth Minerals, Seabed Solutions and Deep Ocean have developed the concept of FlexiCore technology utilizing the partners complimentary competence and experience within geoscience, developing, and operating state-of-the-art subsea technology and extensive subsea operational track record.
FlexiCore is a state-of-the-art core sampling technology based on technology and equipment from land operations, where certain critical equipment components are replaced, and the equipment is "marinized" and adapted to operations in the deep sea.
The FlexiCore will be mounted to the “Seabed Excavator”, an existing electric, crawling, flexible and powerful subsea tool carrier designed for deep sea operations down to 4,000 meters and has previously completed projects at 3,200 meters. The Seabed Excavator and FlexiCore drilling equipment are electrically powered and remotely controlled from an offshore service vessel.
“We are proud to collaborate in this important technological development and we are eager to contribute with our expertise building and operating equipment for deep sea operations. This project strengthens our portfolio of delivering more cost effective and environmentally friendly solutions for subsea operations” say Christian Aas, CEO for project partner Seabed Solutions AS.
To begin with, Adepth Minerals expect that the FlexiCore will be used for data collection related to the exploration and evaluation of the mineral potential on the Norwegian shelf. There is already strong interest in the equipment from research institutions and commercial players who see the technology as complementary to their own subsea technology.
“Our ambition is to provide more data through efficiently core drilling of potentially economically interesting mineral deposits to gain a better understanding of their distribution and resource potential. The funding from Innovation Norway is highly valuable to us, and we expect to be ready for coring during 2022,” adds Anette Broch Mathisen Tvedt.
“In addition to providing a highly cost-efficient core sampling solution, FlexiCore is designed to minimize our environmental footprint compared to other solutions, with more efficient operations, combined with smaller equipment and vessels, equal less energy consumption and associated emissions,” says Anette Broch Mathisen Tvedt. This is in line with Adepth Minerals’ ambition of delivering sustainable exploration and extraction of marine minerals through environmentally responsible marine operations using new, low carbon technology and by integrating big data and artificial intelligence for prospect analysis and risk assessment.
In addition to being a flexible core drilling solution suited for deep sea mineral exploration, the FlexiCore technology can be utilised for both offshore wind and infrastructure surveying and preparations.
“We are developing some unique technology in this project which is an important addition to our offerings. This allows us to strengthen our position as a leading subsea service provider enabling the sustainable use of ocean resources” says Andries Ferla, Andries Ferla, Ocean Solutions and Technology Director of project partner Deep Ocean.
For further media information, please contact:
Dr. Anette Broch Mathisen Tvedt
M | +47 975 62 768
About Adepth Minerals
Adepth Minerals AS is founded by an experienced team with backgrounds 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.
Adepth Minerals’ mission is to find and extract commercial deep sea minerals through sustainable marine operations using new technology with low carbon intensity and by integrating big data and artificial intelligence for prospect analysis and risk assessment.
Adepth Minerals believes it can play an important and positive role in powering a broad-based structural transition to a more climate-neutral economy by performing sustainable exploration and extraction of deep sea minerals required in the production and storage of renewable energy.
Adepth Minerals and DeepOcean are joining forces to explore the deep sea for opportunities.
“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.
Bergen 12th of July, 2021
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. “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.
“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.
Adepth Minerals 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.
“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.
About Adepth Minerals
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.
Adepth Minerals’ 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 Minerals 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.
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.
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.
Corporate Development Director
M | +31615146872
Anette Broch Mathisen Tvedt
M | +47 975 62 768
Hans Petter Klohs
M | +47 907 50 526
Adepth Minerals in Finansavisen
March 19, 2021
If we are to succeed and develop the mineral industry on the Norwegian shelf, cooperation is the key to ensuring value creation within a sustainable framework. We look forward to this journey together! You can read more about us in Finansavisen here.