Vard
- Company typePrivate
- Founded2015
- HeadquartersÅlesund, Norway
- Headcount5,001–10,000
- GTM typeB2B
- OfferingHardware or Manufacturing
Vard firmographics
Firmographics- Name
- Vard
- Legal name
- Vard Group AS
- Website
- https://vard.com
- Company type
- Private
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Ownership category
- akta.pro rank
Vard industry classification
Industry- Product category
- Specialized Shipbuilding
- NAICS
- Ship Building and Repairing (336611), Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System and Instrument Manufacturing (334511)
- akta.pro primary industry
- Subsea Construction & IMR Vessel Newbuilds (CSV, DSV, ROV Support) (IMAJACAD)
- akta.pro secondary industries
- Unmanned Naval Vessels (USV/UUV) (IMAJABAH), Combat & Auxiliary Naval Vessel Systems (IMABAKAA)
Keywords
Where Vard is headquartered
LocationHeadquarters
- HQ city
- Ålesund
- HQ country
- Norway
- HQ region
- Europe
Offices8 records
Markets served
Vard business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Personnel, Operations, Supply Chain, Technology or R&D, Infrastructure
Revenue model
- New Vessel Construction: Design and construction of specialized vessels including offshore support vessels, fishing vessels, cruise ships, naval vessels, and research vessels. Revenue recognized upon vessel delivery with long project cycles typically spanning 2-3 years
- Ship Repair & Conversion: Conversion and upgrade services for existing vessels including retrofits, modifications, and life-cycle extensions. Includes specialized conversions such as PSV to cable-laying vessel conversions
- Products & Systems (Vard Electro, Vard Interiors): Sale of proprietary systems including SeaQ power/automation packages, HVAC-R systems, interiors, piping, and handling equipment as standalone products or integrated into vessel packages
- Design Services: Ship design services provided through Vard Design, offering customized and standard vessel designs for various maritime market segments
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Custom vessel construction contracts |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
Vard product offering
Product offeringCore offering
VARD designs, builds, and services specialized vessels — including Commissioning Service Operation Vessels (CSOVs), Service Operation Vessels (SOVs), cable laying and multi-purpose robotic vessels, stern trawlers, expedition cruise ships, and coast guard vessels — for offshore energy, fisheries, naval/security, and cruise customers. Through its Vard Electro division VARD supplies the proprietary SeaQ integrated automation, power management, energy storage, bridge, and communication systems; through Vard Interiors it delivers HVAC-R, piping, and interior outfitting; and through Vard Services it provides repair, conversion, and lifecycle support worldwide.
Product overview
VARD is a Norwegian shipbuilding company and subsidiary of Fincantieri, providing integrated shipbuilding services encompassing design, construction, repair, and conversion. The company's core offerings include specialized vessels for offshore energy (CSOVs, SOVs), fisheries (stern trawlers), security (coast guard vessels), and adventure cruise segments. VARD operates through an integrated value chain delivering complete vessel solutions, with product lines organized into vessel types (VARD 4, 6, 8, 9 series designs) and supporting divisions (Vard Electro with SeaQ power/automation/bridge/communication systems, Vard Interiors with HVAC/piping/interior solutions). The product portfolio features ship design services, shipbuilding at facilities in Norway, Romania, and Vietnam, and ship repair/conversion operations. Key technology offerings include SeaQ integrated systems family (automation, power management, energy storage, bridge, communication), Ocean Charger wireless charging technology, and nuclear propulsion research (NuProShip). Recent significant contracts include the RV11000 deep-sea research vessel for Inkfish, multi-purpose robotic vessels for Ocean Infinity, and CSOV series for offshore wind operators. The company has delivered approximately 950 vessels across its history.
Differentiator
Problem solved
Functional benefit
Brands
- SeaQ: Integrated power, automation, bridge and navigation, and communication solutions for vessels by Vard Electro
- VARD ZeroClass
Products and services
- VARD 4 19 Design (CSOV)
- VARD 4 12 Design (SOV) A Service Operation Vessel (SOV) design used to construct vessels that serve as floating bases for offshore wind farm O&M technicians, providing accommodation, walk-to-work systems, and helideck.
- VARD 4 22 Design (Methanol-ready CSOV) A methanol-ready CSOV design, prepared for operation on methanol fuel, used to build new environmentally friendly offshore wind service vessels.
- VARD 8 02 Design (Stern Trawler) A stern trawler vessel design used to build modern fishing vessels with factory deck, freezing capacity, and hybrid propulsion options for commercial fishing operators.
- VARD 9 02 Design (Cable Laying Vessel) A cable laying vessel design used to construct vessels for installation and maintenance of subsea power and telecommunications cables, including offshore wind farm cabling.
- VARD 9 60 Design (Multi-Purpose Robotic Vessel) A multi-purpose robotic vessel design used to build vessels equipped with robotic launch and recovery systems (e.g. ROVs, AUVs) for offshore survey, inspection, and intervention work.
- VARD 6 01 Design (Expedition Cruise Vessel) An expedition cruise vessel design used to build ice-strengthened, high-comfort passenger vessels for polar and remote destination cruising, including small-ship and luxury expedition cruise operations.
- Ship Design Services
- Shipbuilding (Newbuild Construction) Project-based newbuild construction of specialized vessels at VARD's shipyards in Norway, Romania, Vietnam, and Brazil, priced as one-time product/license contracts.
- Ship Repair & Conversion (Vard Services) Repair, maintenance, refit, and conversion services for vessels delivered through Vard Services, serving the installed base of VARD-built and third-party vessels worldwide.
- SeaQ Integrated Automation & Power Systems (Vard Electro) Proprietary SeaQ portfolio of integrated vessel automation, power management, energy storage, integrated bridge, and communication systems, sold as hardware/system products and installed on VARD-built and third-party vessels.
- Vard Interiors (HVAC-R, Piping, and Interior Outfitting) Heating, ventilation, air conditioning and refrigeration (HVAC-R), piping, and complete interior outfitting services delivered to shipyards and shipowners as a standalone outfitting offering.
- Ocean Charger (Inductive Wireless Charging System) Inductive magnetic wireless charging system that allows an SOV to charge an uncrewed robotic vessel while at sea, eliminating the need to return to port for recharging during offshore operations.
- RV11000 Deep-Sea Research Vessel (Vard Design 11000) New Vard Design 11000 deep-sea research vessel, a newbuild vessel design contracted for delivery to Inkfish as a research/survey platform.
- Multi-Purpose Robotic Vessels for Ocean Infinity Series of newbuild multi-purpose robotic vessels based on the VARD 9 60 design, contracted by Ocean Infinity for low-emission robotic offshore operations.
- Hybrid SOVs for North Star Newbuild hybrid SOVs based on the VARD 4 19 design, contracted by North Star for the UK offshore wind market.
Quantifiable outcome
- VARD delivered approximately 950 vessels throughout company history
- +4 more outcomes
Companies that use Vard
Customer profileNamed customers18 records
Segments5 records
Ideal customer profiles4 records
Vard technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature8 records
Vard partnerships and signals
Strategic signalPartnerships
18 partnerships are on record, tiered major, core and minor.
- Windward OffshoremajorVARD building hybrid CSOVs for Windward Offshore, including third vessel now in sea trials. Partnership for Commissioning Service Operation Vessels for offshore wind operations.
- SINTEFcoreSINTEF and VARD developed Ocean Charger inductive magnetic charging system enabling electric vessels to recharge at sea without physical contact. System addresses reliability issues of traditional plug-based offshore charging.
- Hanwha Defense USAmajorHanwha Philly Shipyard and Hanwha Defense USA joined U.S. Navy's concept design project for next-generation auxiliary ships as partner to VARD under MASGA initiative. Hanwha responsible for market research, design support, production method analysis, and cost reviews. Concept design targeted for Q1 2027 completion.
- Philly Shipyard (Hanwha subsidiary)majorHanwha's Philly Shipyard partnered with VARD for U.S. Navy NGLS replenishment oiler concept design phase. First time a Korean company carries out U.S. Navy ship program at local U.S. shipyard under MASGA project.
- Nuclear Energy Maritime Organization (NEMO)coreVARD is partner in NEMO, the New Industry Association for Maritime Nuclear. NEMO granted NGO status at IMO reflecting accelerating engagement with SMRs for zero-emission vessel propulsion.
- International Maritime Organization (IMO)coreIMO reaffirmed 2050 net-zero emissions target for global shipping and is updating regulations governing nuclear-powered ships. VARD participating in NuProShip initiative to explore nuclear propulsion compliance.
- DNVcoreDNV collaborated with VARD on NuProShip II nuclear propulsion research project, validating the concept design for nuclear-powered dynamically positioned offshore construction vessel.
- Norwegian University of Science and Technology (NTNU)coreNTNU led the NuProShip II research project in partnership with VARD, DNV, Emerald Nuclear, Vard Electro, and Island Offshore to explore nuclear propulsion for offshore vessels.
- Emerald NuclearcorePartner in NuProShip II research project contributing nuclear reactor expertise for offshore vessel propulsion concept.
- SeaonicscoreSeaonics providing Launch and Recovery Systems for Ocean Infinity vessels and other VARD-built ships. All-electrical gangway technology provider.
- Ocean InfinitymajorVARD contracted by Ocean Infinity to design and build four Multi-Purpose Robotic Vessels valued at over €200 million. Vard Electro, Vard Interiors, and Seaonics providing integrated systems. Deliveries planned for 2028.
- Vard ElectrocoreVard Electro provides SeaQ power and automation package including integrated automation, power management, and communication systems for VARD vessels.
- Vard InteriorscoreVard Interiors delivers interior solutions for VARD vessels including accommodation packages, furniture, and interior systems.
- NORCEcoreVARD signed agreement with Norwegian research institute NORCE to collaborate on research and innovation in maritime technology, focusing on ship design, underwater maintenance, drone technology, and energy solutions. Supports projects like Ocean Charger and PRESIFUEL.
- Norwegian Maritime AI CentreminorVARD is part of Norwegian Maritime AI Centre designated as national research centre for applied AI in shipping. Centre involves collaboration between industry, academia, and public authorities.
- North StarmajorVARD signed contract with North Star to build two hybrid service ships for offshore wind farm maintenance in North Sea. Vessels set for delivery late 2027 and 2028 with sustainable technologies including hybrid drives and future methanol conversion capabilities.
- Fincantieri GroupcoreVARD is a subsidiary of Fincantieri, one of the world's largest shipbuilding groups. Fincantieri provides backing, expertise, and global presence while VARD maintains focus on specialized vessels.
- Lloyd's RegistercoreLloyd's Register awarded Approval in Principle (AiP) for methanol fueling system on VARD 422 CSOVs for North Star, validating design approach for future methanol conversion.
Scale indicators6 records
Recent moves7 records
Expansion highlights6 records
Vard competitors and assessment
Company assessmentMarket position
Competitive moat6 records
Key highlights7 records
Customer concentration
Vard social profiles
Digital presenceVard financial estimates
Financial estimateRevenue estimate
Valuation estimate
Vard leadership team
Management profileNumber of profiles
Profiles14 records
Vard subsidiaries and ownership
Company hierarchySubsidiaries8 records
Vard funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Vard M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Vard
What does Vard do?
VARD designs, builds, and services specialized vessels — including Commissioning Service Operation Vessels (CSOVs), Service Operation Vessels (SOVs), cable laying and multi-purpose robotic vessels, stern trawlers, expedition cruise ships, and coast guard vessels — for offshore energy, fisheries, naval/security, and cruise customers. Through its Vard Electro division VARD supplies the proprietary SeaQ integrated automation, power management, energy storage, bridge, and communication systems; through Vard Interiors it delivers HVAC-R, piping, and interior outfitting; and through Vard Services it provides repair, conversion, and lifecycle support worldwide.
Is Vard a public or private company?
Vard is a private company. It is classified as corporate owned and is currently operating.
When was Vard founded?
Vard was founded in 2015. It employs 5,001 to 10,000 people.
Where is Vard based?
Vard is headquartered in Ålesund, Norway, in the Europe region.
How does Vard make money?
Four revenue lines are on record. New Vessel Construction is the primary driver. The others are ship Repair & Conversion, products & Systems (Vard Electro, Vard Interiors) and design Services.
Does Vard have an API?
No public API is recorded for Vard.
What industry is Vard in?
Vard's product category is Specialized Shipbuilding. Its primary akta.pro industry code is IMAJACAD, Subsea Construction & IMR Vessel Newbuilds (CSV, DSV, ROV Support), with a secondary code of IMAJABAH, Unmanned Naval Vessels (USV/UUV). Its NAICS code is 336611.