DNV GL launches venture fund inspired by “decade of transformations”

DNV GL, a risk management and system assurance company, has launched a venture fund responding to the “decade of transformations.” The company believes that the upcoming energy transition and industrial revolution may trigger a transition in the industry. As a result, the new company, DNV GL Ventures, plans to build a portfolio of between 15-20 startups in the upcoming years, taking stakes of up to 20% in the companies.

The company’s Energy Transition Outlook forecasts a rapid decarbonization of the global energy system and says that by midcentury fossil fuels and renewables will almost equally share the energy mix.

DNV GL is looking to invest in companies that reflect these major transformations. The company will have wide remit to focus on all areas of the energy transformation but has stated that it will start on the maritime and energy sectors.

In addition, the venture fund will continue to support the development of digital solutions and ecosystems as well as the exploration of various opportunities that boost customer trust and supply chain transparency.

The company aims to invest in startups in the seed to series A phase, meaning that validation for product-market fit is met. These startups will hopefully provide DNV GL with additional technical expertise and a wider customer base.

“We have entered a decade of transformation where the pace of the energy transition will be set and digital technologies underpinning industry 4.0 will mature from experimentation into large-scale application.  Therefore, operating like it is business as usual is not an option,” said Klas Bendrik, Chair of DNV GL Ventures investment committee and DNV GL’s Chief Digital Transformation Officer.


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The Clarion Energy Content Team is made up of editors from various publications, including POWERGRID International, Power Engineering, Renewable Energy World, Hydro Review, Smart Energy International, and Power Engineering International. Contact the content lead for this publication at Jennifer.Runyon@ClarionEvents.com.

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