The Accelerator

Accelerating growth in assurance

Established in February 2021, The Accelerator is a new business area dedicated to rapidly growing targeted business units that will shape the future of assurance.

Accelerator acts as a greenhouse for a strategically selected portfolio of businesses, each of which serves different industries and markets. The portfolio benefits from dedicated support to rapidly grow through organic means, as well as through acquisitions and partnerships. Three business units were housed in The Accelerator in 2021: Cyber security, Digital health, and Inspection.

Cyber security for the real world

The volume of cyber-attacks on society and business has increased significantly in recent years. The total cost of cybercrime is expected to have reached USD 6 trillion in 2021, up from USD 3 trillion in 2015. 

IT environments have faced active attacks and information security threats for several decades. In contrast, operational technology environments have been traditionally kept in silos. This picture is now changing. Industrial assets such as windfarms, oil and gas infrastructure, ships, manufacturing facilities, and medical equipment are now at higher risk of new forms of cyber-attack as their control systems become increasingly connected. 

In 2021, DNV acquired industrial cyber security specialist Applied Risk. The two companies are joining forces with the aim of building the world’s largest industrial cyber security practice, defending critical infrastructure against emergent cyber threats.

Securing power substations from cyber-attacks

DNV has published new guidelines for power system companies planning to improve the cyber security of protection devices and digital technologies within substations. 

Power system protection technologies are essential to maintain the stability of a grid. At the same time, threats to the cyber security of power grid substations are becoming more common, complex and creative. However, there has been a lack of best practice guidance on how operators, manufacturers, and regulatory authorities can build an effective defence. DNV’s new recommended practice helps to fill that gap. 

DNV Recommended Practice DNV-RP-0575 Cyber security for power grid protection devices describes cyber-attack surfaces relevant for substations, potential cyber threats, and 45 practical measures to secure power grid protection devices. It was published following a joint research project conducted by DNV and Nordic transmission system operators Fingrid, Statnett SF, and Svenska kraftnät.

Expanding into digital health

Healthcare systems around the world are becoming unsustainable as populations age and lead unhealthier lifestyles. This is causing healthcare demand to outpace supply. 

Digitalization will make it easier to lower the significant cost pressures facing the healthcare sector by reducing manual work. Successful digital transformation could reduce hospital expenditure by as much as 15%, and the broader economic gain is estimated to be trillions of dollars. 

Healthcare’s digital transformation has been slow to start, lagging behind other industries by about a decade. But it is now reaching an inflection point as the COVID-19 pandemic accelerates technology adoption and political reform takes hold. DNV established a Digital Health business in 2021 to establish trust in technologies, systems, and data, so that healthcare professionals can improve more lives, more efficiently. 

In 2021, DNV acquired digital health pioneer Imatis in the first step of our expansion into the digital health market.

Bringing order to unstructured clinical data using artificial intelligence

A new company formed in October 2021 by DNV and CareCom, a healthcare interoperability solutions provider, is using natural language processing based on machine- and deep-learning models to transform disparate clinical data into meaningful information. 

Healthcare professionals create and update hundreds of thousands of patient notes, diagnostic reports, lab analyses, and other clinical records every day. Yet 80% of the data included in them is unstructured, making records impossible to consolidate, analyse, and report on at scale without significant manual legwork. 

CareIndexing provides healthcare trusts, care providers, software vendors, and research institutions with essential technology to scan free text and other unstructured data in clinical documents. The company’s solutions extract meaning from this disparate data by structuring it according to internationally recognized SNOMED terminology standards and codes. This results in more efficient administration and previously undiscovered clinical insights.

Building a world class inspection business

In a decade of transformations, the industrial sector is being shaped by rapid technology advancements, continued supply chain internationalization, and an increased focus on environmental and social governance. These trends are fuelling demand for the inspection and testing of the safety and quality of industrial products, services, and infrastructure. 

DNV’s Inspection unit is growing to meet the need for greater quality assurance throughout the procurement, fabrication, installation, commissioning, and operation of industrial assets – both within our stronghold markets and in new industry verticals and geographies.

DNV blows quality assurance into European offshore wind projects

According to DNV’s 2021 Energy Transition Outlook, wind will provide half of Europe’s electricity supply by 2050, compared to 12.4% today. 

In 2021, DNV was commissioned by Dogger Bank Wind Farm to provide vendor inspection to this project. Located between 130 and 190 kilometres off the north east coast of England, Dogger Bank will become the world’s largest offshore wind farm. With an installed capacity of 3.6 GW, it will be capable of powering six million UK homes. 

DNV also began providing inspection expertise to a major offshore wind project in the Baltic Sea in 2021. Located 30 kilometres to the northeast of Rügen Island in Germany, the new 476 MW Baltic Eagle installation will supply energy to nearly half a million households. On behalf of operator Iberdrola, DNV is inspecting the production monopiles for the foundation package for the wind farm at EEW’s site in Rostock.