DNV GL Ventures will build a portfolio of between 15-20 startups in the next four years – addressing the challenges of energy transition and the fourth industrial revoluition – taking stakes of up to 20% in the companies.

DNV GL is the world’s largest classification society, providing services for 13,175 vessels and mobile offshore units amounting to 265.4 million gt, which represents a global market share of 21%.

Klas Bendrik, chair of DNV GL Ventures investment committee and DNV GL’s chief digital transformation officer, said, “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. 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 decarbonisation of the global energy system and by mid-century fossil fuels and renewables will almost equally share the energy mix.


DNV GL’s services are already reflecting this shift. 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.

Although DNV GL Ventures has a wide remit, it will also focus on DNV GL’s strong industry categories, especially the maritime and energy sectors.

Kaare Helle, venture director at DNV GL Ventures said, “With our purpose to safeguard life, property and the environment and deep technical expertise we offer an alternative investment option than traditional investors.

“Over the last 150 years we have accumulated a massive amount of knowledge and a customer base to match, and any startup we invest in will be able to tap into this.”

DNV GL has already dipped its toe in the venture pool, having bought a stake in blockchain technology firm VeChain.

In keeping with the rapid pace of change, DNV GL is inviting startups to send their 90- second video pitches directly to the venture team. Each video will be reviewed, and feedback given within 15 working days.

Startups that meet the investment criteria are invited to send their pitches directly to: kaare.helle@dnvgl.com