DNV AS

Thank you very much for that, Algird.

So earlier this year, we spoke to DNV for an episode of this podcast, and they contended that the turning point for carbon capture and storage has arrived.

Would you agree with this, and what are you hearing from partners, customers, and project developers in the market?

Yeah, definitely we see a lot of movement in the industry.

But that work is being done, and batteries are moving from a niche asset to a core pillar of modern energy infrastructure.

Figures from energy advisory DNV predict that grid-connected energy storage capacity will double from 2024 to 2030 and increase eightfold by 2040.

And while pumped hydro made up 93% of storage capacity in 2024, it's expected to make up only half by 2030 and 10% by 2060. with batteries emphatically taking the lead.

And one more stat for you.

I remember probably 10 years ago, just how difficult it was to knock on the door of class with new technology to try and take it through some kind of approval system, notation, anything that would mean a ship owner is sort of willing to touch it.

And Lloyd's Register, DNV, American Bureau, Class NK, BV, Korean Register, they appear kind of throughout the report as enablers of new and emerging tech through type approval.

So one quite interesting story is Avicus, you know, who make the autonomous systems, they received a statement of compliance in October last year from ABS.

In the January, so four months on, HMM ordered 40 systems from them.

And then in April, four months on from that, DNV offered full type approval.

So you can kind of see when class functions well, the system works well to get new technology onto ships.

And I think that's actually an important thing that is often overlooked and kind of taken advantage of as something that without it, all of this kind of innovation just sort of starts to grind to a halt.

And it seems it wants more.

During SMM, the German Shipowners Association and the Chinese Shipbuilders and DNV organised a first China-Europe Maritime Summit.

It brought in the shipowners' key Chinese yards to discuss the trends and what the key wants are of the shipowners and what the yards can actually deliver.

So there was an opening speech by CSSC Chairman Xu Peng, which highlights exactly where China is going.

The project is estimated at around three billion US dollars and is approximately four trillion Korean won, and Hanwha Ocean is reportedly competing against SBM Offshore for the contract as TotalEnergies moves towards a final investment decision on the development.

The company has also secured approvals in principle from DNV and ABS for a low-carbon standard FPSO design incorporating technologies aimed at reducing greenhouse gas.

If selected for the Venus project, Hanwha Ocean says these technologies could be incorporated into the facility as Namibia's offshore development plans increasingly place emphasis on lower carbon production and emission management.

Greene expands Ilana Erasmus' role to lead oil and gas ICT strategy in Namibia.

Mm.

Uh, DNV, the classification society, describes HVO as a renewable diesel that can be used in existing engines without modification.

Oh, so you don't need the massive cryogenic tanks and complex plumbing that LNG requires.

Precisely.

This helped leaders unlock over 1 billion euros in new revenue and identify 28 billion euros in market opportunities across industries ranging from defense and manufacturing to healthcare and financial services.

His work with companies like DNV, DNB and Conspiracy Group co-founded Norway's largest lean startup community, trained with Toyota in corporate value creation, and is completing doctoral research into why innovation inside large organizations so often fails.

So without further ado, Bruno, welcome to DNS Mike.

So happy to be here and looking forward to our conversation very much.