Norway-based risk manager Det Norske Veritas [DNV] has backed Norway-based weather services company StormGeo, as part of a strategic partnership.
DNV has taken a 22.7 % stake in the business. Private equity firm Reiten & Co holds 51%. Other shareholders are businessmen Siri Kalvig and Erik Langaker as well as TV2 Invest, the investment unit of media group TV2 Gruppen, and management.
Henrik Madsen, the chief executive of DNV, said: "Both organisations value research, innovation and technical competence, and we look forward to working together on a shared agenda. The global energy sector is heading for significant changes and investments – especially due to long term climate changes in and operations in high risk areas like the Arctic. This trend will increasingly call on best practice meteorology systems."