Det Norske Veritas Foundation Launches Major Research Fund to Drive Scientific and Societal Development Across the Nordic Region

Det Norske Veritas Foundation Launches Major Research Fund to Drive Scientific and Societal Development Across the Nordic Region

(IN BRIEF) The Det Norske Veritas Foundation has launched a NOK 2 billion (USD 200 million) research fund aimed at supporting basic scientific research in the Nordic region. Expected to provide NOK 50–100 million annually, the fund will finance projects in autonomy, new critical raw materials, and societal risks. A committee of experts will oversee allocations, beginning in late 2026 and continuing through 2030. Leaders including Jon Fredrik Baksaas, Sigrun Aasland, and Remi Eriksen highlighted the fund’s potential to strengthen Nordic research, foster innovation, and promote sustainability. The initiative builds on DNV’s long-standing tradition of investing in research, reaffirming the Foundation’s role as a driver of societal progress.

(PRESS RELEASE) HØVIK, 27-Oct-2025 — /EuropaWire/ — The Det Norske Veritas Foundation has announced the creation of a NOK 2 billion (approximately USD 200 million) research fund designed to strengthen scientific research across the Nordic region. Expected to yield annual dividends of between NOK 50 and 100 million, the fund will finance basic research projects outside of DNV, reinforcing the Foundation’s long-term commitment to advancing science for the benefit of both industry and society.

An independent foundation dedicated to safeguarding life, property, and the environment, the Det Norske Veritas Foundation fulfils its purpose primarily through ownership of DNV, a global leader in assurance and risk management. By launching this new fund, the Foundation is expanding its societal impact and commitment to scientific advancement beyond its corporate boundaries.

The initiative will initially invite Nordic universities engaged in fundamental research to apply for grants in three key focus areas: autonomy, new critical raw materials, and societal risks. The fund’s first allocation is planned for the fourth quarter of next year, with an initial funding period covering 2026 to 2030. A dedicated committee—comprising internal and external experts—will be established by the first quarter of 2026 to oversee the selection process.

Jon Fredrik Baksaas, Chair of the Board of the Det Norske Veritas Foundation, emphasized the fund’s long-term importance: “We are proud to establish a research fund of this size. It represents a major and lasting contribution to strengthening scientific research in the Nordic region, and we hope it will create positive ripple effects across businesses, society, and communities.”

Norway’s Minister of Research and Higher Education, Sigrun Aasland, praised the initiative, stating that a research fund of this scale will have a profound effect on Norwegian and Nordic research. She commended DNV for taking a leadership role in fostering a knowledge-driven economy, adding that more private companies should follow suit to strengthen Norway’s position as a centre of knowledge and innovation.

Remi Eriksen, Group President and CEO of DNV and Chief Executive Officer of the Det Norske Veritas Foundation, explained that the new fund will target fundamental research in areas such as safety, sustainability, and digital systems. “Our goal is to advance scientific progress and knowledge development that form the basis for future value creation—particularly in autonomy, new materials, and sustainable societies,” Eriksen noted.

DNV has a long-standing tradition of supporting research, having established its first research department in 1954. The company continues to invest six percent of its annual revenue in research, development, and innovation. The newly established fund is an extension of this commitment, designed specifically to support external, fundamental research that drives long-term societal and industrial progress.

With this major investment, the Det Norske Veritas Foundation reinforces its position as a catalyst for knowledge creation and societal development across the Nordic region.

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SOURCE: DNV