DNV aims to boost cyber security in energy sector through Applied Risk acquisition

Facebook
Twitter
LinkedIn
Reddit
Email
Jalal Bouhdada, CEO of Applied Risk, and Liv Hovem, CEO of DNV Accelerator. Image: DNV.

Assurance and risk management provider DNV is acquiring cyber security firm Applied Risk as it looks to build a security practice focused on defending industrial assets against emergent cyber threats.

Netherlands-based Applied Risk was established in 2012 and has a client portfolio spanning sectors including energy, utilities, manufacturing and transport.

Post-acquisition, its team will join forces with DNV’s cyber security specialists, who work with governments and corporations to keep projects and operations secure.

Citing research from cyber security firm Fortinet, DNV said 90% of companies in the manufacturing, energy and utilities, healthcare and transportation sectors suffered an attack on the computing systems managing their industrial operations during 2020.

“Industrial assets such as wind farms, 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,” said DNV CEO Remi Eriksen.

The acquisition follows DNV publishing guidelines aimed at defending power grid substations from cyber attacks. When that recommended practice was released in September, DNV made reference to an attack on a host of Ukraine’s power grid substations in 2015 that left around 250,000 without power.

In the US, an initiative announced last year has brought together government bodies and the private sector to identify best practices for solar cyber security.

Read Next

September 26, 2022
A subsidiary of Indian conglomerate Reliance Industries will invest US$12 million to acquire a 20% stake in Caelux Corporation, a California-based company working on perovskite solar technology.
September 20, 2022
Spanish solar developer Solarpack has reached an agreement to acquire 100% of the shares of developer Solaer.
September 20, 2022
Private equity firm KKR and Hero Group have invested US$450 million in Indian independent power producer (IPP) Hero Future Energies (HFE) to support its renewables expansion.
September 14, 2022
US energy software-as-a-service (SaaS) company Enverus has acquired Madrid-headquartered PV software provider RatedPower, broadening its portfolio of solutions in the solar industry.
September 14, 2022
Private equity giant BlackRock Real Assets has acquired New Zealand solar and energy storage provider solarZero.
September 13, 2022
Vehicle electrification solutions provider XL Fleet has acquired Spruce Power, an owner and operator of residential rooftop solar systems in the US with more than 52,000 subscribers across 16 states.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
September 27, 2022
15:30 AEST (UTC +10)
Solar Media Events
October 4, 2022
New York, USA
On-Demand Webinars, Solar Media Events
October 11, 2022
Virtual event
Upcoming Webinars
October 18, 2022
10am (EDT) / 4pm (CEST)