DNV GL launches venture fund inspired by “decade of transformations”
DNV GL, the risk management and system assurance company, has launched a venture fund in response to the challenges of the “decade of transformations,” which will be defined by the energy transition and the fourth industrial revolution. DNV GL Ventures will build a portfolio of between 15-20 startups in the next four years, taking stakes of up to 20% in the companies, the company said in its release.
“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. “The launch of DNV GL Ventures is an acknowledgment that even a company of experts like ours must look beyond its own four walls to stay relevant.”
DNV GL’s Energy Transition Outlook forecasts a rapid decarbonization of the global energy system and by midcentury fossil fuels and renewables will almost equally share the energy mix. DNV GL’s services are already reflecting this shift and since the new year DNV GL has announced it will monitor the largest solar farm in Europe and launched FuelBoss, a platform that facilitates LNG bunkering for ships. DNV GL has also explored how industry 4.0 is likely to impact society and industry in its recent publication Technology Outlook 2030, which examines subjects as wide as precision medicine and the new space race.
DNV GL Ventures will invest in startups in the seed to series A phase, meaning they have their first customer or in other ways validated their product-market fit. In addition to capital, the startups will gain access to DNV GL’s wide spectrum of technical expertise, customer base of 100 000 clients and brand value.
In keeping with the rapid pace of change, DNV GL is inviting startups to send their ninety second video pitches directly to the venture team. Each video will be reviewed, and feedback given within fifteen working days.
About DNV GL
DNV GL is the independent expert in risk management and quality assurance, operating in more than 100 countries. Through its broad experience and deep expertise DNV GL advances safety and sustainable performance, sets industry benchmarks, and inspires and invents solutions.
Whether assessing a new ship design, optimizing the performance of a wind farm, analyzing sensor data from a gas pipeline or certifying a food company’s supply chain, DNV GL enables its customers and their stakeholders to make critical decisions with confidence.