DNV has, as part of a strategic partnership with StormGeo, acquired the right to purchase 22,6 % of StormGeo’s shares through a mutually convertible capital issue.
Bjørn K. Haugland, Chief Technology and Sustainability Officer of DNV Group will join the Board of Directors of StormGeo. The core focus of StormGeo will remain within the fields of oil exploration, renewable energy as well as shipping, media and aviation. DNV and StormGeo will co-operate to continue developing risk assessment and efficiency programs for all types of entities operating in rough climates. While DNV becomes the largest minority shareholder with a 22,6 % share, Reiten & Co. retains its majority holding (51%). Erik Langaker (Vestland Invest), TV2 Invest and Siri Kalvig as well as the management group will not sell any shares as part of the transaction.
Bjørn K. Haugland, Chief Technology and Sustainability Officer of DNV Group will join the Board of Directors of StormGeo. The core focus of StormGeo will remain within the fields of oil exploration, renewable energy as well as shipping, media and aviation. DNV and StormGeo will co-operate to continue developing risk assessment and efficiency programs for all types of entities operating in rough climates. While DNV becomes the largest minority shareholder with a 22,6 % share, Reiten & Co. retains its majority holding (51%). Erik Langaker (Vestland Invest), TV2 Invest and Siri Kalvig as well as the management group will not sell any shares as part of the transaction.