Annual Report 2021

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Key highlights 2021

New name, strategy and organisation

Since the merger between DNV and GL in 2013, the company name has been DNV GL. On 1 March 2021, we changed our name to DNV after a comprehensive strategy review. The new strategy to 2025 positions DNV for both significant growth and shaping the future of assurance. DNV’s ambition is to shape the future of assurance through more digitalized services and by leading the assurance of digitalization in the form of assuring data, digital twins, and digitized processes. 

The strategy also led to organizational changes at the beginning of 2021. DNV now houses six business areas: Maritime, Energy Systems (combining our oil and gas and power and renewable expertise), Digital Solutions, Business Assurance, Supply Chain and Product Assurance, and the new Accelerator business area, which will grow services relating to inspection, cyber security, and digital health.

Key highlights 2021

Turning sustainability pledges into action

DNV has made significant progress when it comes to the sustainability goals set out in our 2025 strategy. DNV aims to make a positive impact by making our operations climate net positive and helping customers to decarbonize, become more energy efficient and contribute to the Sustainable Development Goals. 

In 2021, we reached our goal of 50% certified renewable electricity for our offices and laboratories, and will continue to increase this percentage in order to reach 100% certified renewable electricity by 2025. DNV has also set ambitious goals to reduce business travel by 30% company-wide in 2022 compared to pre-pandemic levels.

Key highlights 2021

Contributing to the climate debate at COP26

The world has sufficient technological capability and economic capacity to stay below the 1.5°C threshold. This is the message that DNV took to COP26, where we joined the industry and world leaders to debate the urgent need for action on climate change. Across the two weeks, DNV gave talks, joined panel sessions, and met customers to discuss everything from digitalization and the pathway to net zero, to funding for new energy grids, and the combined power of hydrogen and offshore wind. 

Our annual global forecast, the Energy Transition Outlook, shows that the world is not on track to meet the Paris goal. However, in a report published just before COP26, the Pathway to Net Zero Emissions, DNV showed how we can limit global warming to 1.5°C using, for instance, policy measures and a shift in mindset to whole energy systems thinking and scale-up across industries and regions.

Key highlights 2021

The Veracity data platform reaches new customers

Veracity allows DNV’s customers to buy instant access to digital services through the Veracity marketplace and application network. During its four years of operation, sales numbers have increased rapidly as more services and products have been added to the platform. 

In 2021, the Veracity marketplace saw a 60% increase in transactions, and about 40% of these involved new customers. The Veracity marketplace has recently monitored feedback from customers in a purchase confirmation survey, and more than 75% of buyers rated their overall purchase experience as ‘good’ or ‘excellent’.

Key highlights 2021

Transitioning faster

In 2021, DNV combined its Oil & Gas and Power & Renewables businesses into one new business area called Energy Systems. Bringing together over 4,000 energy experts strengthens DNV’s ability to serve leading players across the energy industry and help them scale green energy technology in a safe and sustainable way, from production to energy use. 

DNV’s ambition is to further grow our energy business, and we have made three strategic acquisitions: Energy and Resource Solution Inc. (ERS), a company providing energy insight, planning, design, and implementation services; Antuko, a leading energy price forecaster; and Alteso’s solar photovoltaic analytics platform.

Key highlights 2021

Expanding footprint in healthcare

DNV acquired digital health pioneer Imatis in July 2021, in the first step of our expansion into the digital health market. DNV Imatis’ platform collects, integrates, and aggregates data from patients, sensors, and systems. It connects with a rich ecosystem of DNV Imatis applications that help staff coordinate care, manage tasks, and communicate more effectively. 

At the end of 2021, DNV also acquired MEDCERT, one of the largest notified bodies in Germany and among the leading notified bodies under the EU Medical Device Regulation. 

This acquisition increases our capacity to deliver supplementary notification services for medical devices globally. The addition of more technical personnel will enable us to more strongly address the upcoming recertification peak that is expected as all Medical Device Directive certificates must be replaced by Medical Device Regulation certificates prior to May 2024 to ensure European market access for manufacturers.

Key highlights 2021

Building an industrial cyber security powerhouse

DNV acquired industrial cyber security specialist Applied Risk in November 2021. The two companies are joining forces with the aim to build the world’s largest industrial cyber security practice, defending critical infrastructure against emergent cyber threats. Applied Risk’s team of engineering and cyber security professionals have contributed to a wealth of industry standards and led the development of security strategies for national governments. Applied Risk works with a broad customer portfolio, including Fortune 500 companies across Europe, the Middle East, and Asia, advancing capabilities in industries such as energy, maritime, pharmaceuticals, transport, mining, utilities, and manufacturing.

Research and Innovation

Tackling global transformation with foresight and insight

DNV allocates 5% of our annual revenue to strategic research, technology development, and innovation to provide a trusted voice and value to our customers and society at large.

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