DNV Expands Clean Energy Portfolio with Investment in HST Technologies

February 15, 2023

Høvik, Norway, – DNV has entered into a strategic partnership with clean energy platform provider HST Technologies (HST), as both companies seek to facilitate grid-scale decarbonization. The agreement comprises of an investment by DNV Ventures – DNV’s venture arm – into HST and deeper collaboration, which will include DNV’s experts being made available directly to customers of View® and other platforms from HST.

Headquartered in the greater San Francisco Bay Area, HST has supported over 2100 GWs of clean energy project modeling in 100 countries. Through its View® platform, HST offers data-driven insights on the economics of clean energy development decisions. View® connects developers with the energy buyers, risk management advisors, landowners, and others that they need to execute the project.

The DNV and HST partnership will enable developers to book meetings with DNV teams via the DNV Ecosystem portal within View®. DNV’s technical expertise and long track record of working on solar projects will further help solar developers using the View® platform to manage their risk more effectively. This ensures that HST’s Power Purchase Agreement (PPA) marketplace also has DNV’s risk-reduction and technical competence joined together with the platform’s financial optimization and marketplace network benefits.

“DNV and HST’s digital offerings and staff will together create transparency around the financial consequences of energy buyers’ and sellers’ project siting decisions, equipment procurement and equipment configuration decisions,” said Rudy Roy, CEO of HST. “The partnership will enable HST and DNV to deliver best-in-class complementary services for today’s grid-connected clean energy and storage infrastructure.”

DNV has identified decarbonization and digitalization as two of the defining features of this decade that will profoundly influence the industries it operates in, and the company is focused on acquiring and investing in businesses positioned to benefit from these trends. Since its foundation in 2020, DNV Ventures has made 10 investments including another fellow solar specialist Raptor Maps.  DNV has also recently acquired Solcast and Alteso as the company ramps up its offerings to the solar industry.

“We are delighted for HST to be DNV Ventures’ most recent venture investment in the solar energy industry, following our participation in Raptor Map’s series B financing last year. These investments complement DNV’s recent acquisitions and will accelerate digital services across solar forecasting, data, and performance analytics,” said Kaare Helle, Venture Director at DNV.

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