Reach Subsea ASA (Reach) welcomes the announcement that Sletta, Smedasundet and
Karmsundet in the Haugalandet district of western Norway has been granted
official status as a national test site for remote-controlled technologies and
unmanned vessels by the Norwegian Coastal Administration and the Norwegian
Maritime Authority. The establishment of a test site for world-leading
technology for the maritime industries will strengthen the collaboration between
the private sector, the authorities, academia and research communities, and
provide a supportive, innovative subsea environment for the Reach Remote
project. 

Reach Subea is one of 19 members of the NCE Maritime CleanTech cluster
organization, which has led the work to establish the test site. The group is a
public-private partnership initiative that will collaborate on the development
of new clean, energy-efficient maritime technologies, thereby positioning Norway
to take a leading role in autonomous maritime transport and operations
solutions.

"The establishment of Haugalandet as a national test site for new maritime
technologies and unmanned vessels is very good news for the Reach Remote
project. Developing pioneering new technology requires extensive testing,
serious verification and certification that carries international recognition.
This is now in place through today's announcement," says Jostein Alendal, CEO of
Reach Subsea.

Reach Remote, which is carried out in cooperation with Kongsberg Maritime AS and
Massterly AS and supported by a grant from Innovation Norway, aims to develop
future-proof, sustainable solutions for subsea services. The first stage of the
project is to introduce Unmanned Surface Vehicles (USVs) dedicated to survey,
inspection, and light repair projects. The USVs will serve as mobile power
banks, data centres and communication modules for underwater ROVs (Remotely
Operated Vehicles), with both the USVs and ROVs operated from an onshore control
centre. Reach Subsea's goal was to be in the market with the first two USVs in
2022, with the ambition of providing a full portfolio of subsea services from a
low-emission, cost-effective remote and autonomous fleet by 2025. Due to global
supply chain disruptions, the commissioning of the first USVs has been postponed
and the first vehicles are expected to be launched in 2023.

"Global supply chains have experienced major disruptions in the past year,
initiated by the pandemic, and we have chosen to dedicate more time to
preparatory work prior to commissioning the USVs, to ensure that we get it right
from the start. Unmanned and carbon neutral offshore operations is a bold
ambition, but with the right industrial partnerships and regulatory actions to
support the rising market momentum, we strongly believe that we can unlock this
opportunity," says Alendal. 

The low-emission, cost-effective subsea services which will be offered by Reach
Remote are of interest to offshore wind farm operators and oil and gas asset
owners. Reach Remote will be an enabler, building on framework agreements
already in place to position Reach as a preferred supplier of survey,
inspection, and light repair services to the fast-growing offshore wind
industry. It will also be key to providing services to other markets, such as
aquaculture, subsea mining, and environmental surveillance.

"Since Reach Remote was publicly launched earlier this year, we have experienced
great interest from clients and potential partners across the world. There are
several potential industrial partners we are in dialogue with who wish to be
part of Reach Remote, and who could contribute to the funding and
commercialization of the project. While still in the early stages, these
dialogues form part of evaluating which financing strategy for Reach Remote is
in the best interest of the company and its shareholders," Alendal added. 

Currently, Reach provides its subsea services from six vessels. A typical Reach
project today will involve some 30-50 personnel onboard a subsea vessel
operating under strict HSEQ regimes. With Reach Remote, the same project can be
executed with a much smaller, more fuel-efficient vessel, a more than 90%
reduction in CO2 and NOx emissions and one third of the personnel, who will be
located onshore without exposure to offshore operational risks. 

For more information:
Jostein Alendal, CEO REACH Subsea, + Mobile: +47 928 80 412, E-mail:
jal@reachsubsea.no 

About REACH Subsea
The Reach Subsea ASA Group's business concept is to offer subsea services as
subcontractor and/or directly to end clients, based out of our head office in
Haugesund, Norway. The core business of the Group is based on modern, high spec
Work ROVs operated by highly qualified offshore personnel and supported by
onshore engineering resources. The Group's objective is to be a preferred subsea
partner and full-service provider of subsea operations for clients, among others
by having focus on safety, environment, financial solidity and profitability.
https://reachsubsea.no/

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