NOV Named 2024 Foreign Company of the Year
An independent jury named NOV’s Subsea Production Systems (SPS) business unit as the winner of the 2024 Foreign Company of the Year award, in recognition of their impressive growth, significant investments, and dedication to impactful partnerships within Denmark.
NOV SPS, headquartered in Brøndby, and with a major manufacturing facility in Kalundborg, has seen remarkable growth in recent years. From 2022 to 2023, the company achieved an outstanding increase in sales while improving its bottom line. With 650 employees in Denmark, NOV’s strong presence is a testament to its commitment to the Danish economy and its role in powering the global energy sector with cutting-edge subsea solutions.
Spokesperson for the jury, Sanna Suvanto-Haarsae, says: “In Denmark, NOV SPS has demonstrated an ongoing commitment to R&D with significant investments in both 2022 and 2023 to advance product innovation and technological development. A key highlight includes the establishment of a world-class material qualification laboratory at their Brøndby headquarters.” Further expanding their capabilities, NOV SPS completed the construction of a full-scale structural qualification and testing facility in Kalundborg. These investments are critical to developing advanced subsea technologies, such as offshore flexible pipes designed for 20-30 years of uninterrupted operation in harsh environments.
And when it comes to innovation in sustainability, NOV believes that technology has the potential to revolutionize how we store and distribute critical energy resources. For example, they’re working on an innovative subsea storage technology that enables safe, large-scale storage of chemicals and efuels on the seabed, as well as flexible pipes used for carbon injection, supporting the future of sustainable energy.
NOV SPS fosters close partnerships with Danish universities and research institutions, creating a collaborative environment that drives innovation. The company’s multicultural and diverse workforce includes a strong team of PhD graduates, whose expertise contributes to the development of cutting-edge solutions that benefit both Denmark and the global energy sector. These efforts underline NOV’s commitment to supporting the local community while making a global impact.
“We are proud to receive this recognition for our commitment to the Danish market. With deep roots in Denmark, and as part of NOV since 2012, we have been operating in the country for over a decade. We continue to invest in research and innovation here, as the work we do in Denmark is central to our mission of powering the industries that power the world” says Torbjörn Weywadt Nilsen, Acting President from NOV Subsea Production.
AmCham congratulates NOV on this well-deserved recognition and applauds their contributions to Denmark’s business landscape. “Foreign companies hold the key to future growth in the economy, and when they invest in Denmark, it creates jobs and innovation. We are proud to recognize NOV for their leadership and commitment to growth, investment, and collaboration in Denmark. Their innovation and dedication to sustainable energy solutions have rightfully earned them the 2024 Foreign Company of the Year award,” says Stephen Brugger, AmCham Executive Director.
We would also like to congratulate this year’s other highly qualified finalists: Expeditors, Mastercard and Roche.