What Partnerplast does

Partnerplast, now operating as the Ovun brand, is a Norwegian developer and manufacturer of high-tech buoyancy and plastic moulding solutions for marine and subsea environments. Headquartered in Åndalsnes, Norway, and operating as a wholly-owned brand under ASX-listed Advanced Innergy Holdings (AIS) since 2018, Ovun serves six industry verticals: seismic survey, offshore oil and gas, offshore renewables, aquaculture, hydropower safety, and marine navigation and security. The company supplies standardized catalogue products alongside engineered custom solutions, with documented relationships exceeding 20 years with anchor customers such as PGS in seismic.

The product portfolio is built on a stack of in-house manufacturing capabilities: rotational moulding for large hollow plastic components, polyurethane (PU) moulding for flexible and rigid foam parts, patterns and moulds fabrication, and integrated electronics development for marine sensors, navigation lights, and communication systems. This combination of polymer processing and embedded electronics is the core technical differentiator, supporting offerings such as tail buoys, distributed buoyancy modules, cable protection systems, smart aquaculture buoys (Activa line), and barriers for hydropower safety. An in-house plastic recycling capability supports circular-economy claims. The catalogue exceeds 1,000 SKUs and the company states millions of kilograms of buoyancy delivered cumulatively.

Ovun runs a sales-led B2B go-to-market, engaging enterprise customers directly across global markets in seismic, offshore energy, renewables, aquaculture, hydropower, and marine navigation. Revenue is generated through two streams: hardware sales of standardized catalogue products and professional services tied to custom solution engineering and design. Pricing is not publicly disclosed; quotes are provided on request. The company does not maintain a consumer-facing app or software layer, and distribution is exclusively through direct enterprise engagement, supplemented by a content-marketing presence (website, downloadable catalogues, industry case studies). Following the September 2023 acquisition of Imenco Aqua, aquaculture has emerged as a clear strategic vertical alongside the legacy seismic and offshore oil and gas core.

Name

Partnerplast

Legal name

Ovun

Website

https://partnerplast.com

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

1–10 employees

Short description

Partnerplast, now operating as the Ovun brand, is a Norwegian manufacturer of buoyancy and plastic moulding solutions serving seismic, offshore oil and gas, renewables, aquaculture, hydropower safety, and marine navigation sectors under ASX-listed parent Advanced Innergy Holdings.

Ownership category

akta.pro rank

Product category

Marine Buoyancy and Plastic Moulding

NAICS

Plastics Product Manufacturing (3261), Ship Building and Repairing (336611)

SIC

Ship & Boat Building & Repairing (3730), Plastics Products, Nec (3089)

akta.pro primary industry

Deck Fittings & Hardware (Bitts, Fairleads, Cleats, Anchors & Chains) (IMAJAIAK)

akta.pro secondary industries

Sealants, Adhesives, Gaskets & Marine Elastomers (IMAJAKAL), Navigation & Aids-to-Navigation Works (Beacons, Buoys, Markers) (IMAFAJAH), Subsea & Nearshore Civil Works (Trenching, Rock Placement, Mattressing) (IMAFAJAI)

Keywords

• Marine buoyancy products
• Plastic moulding solutions
• Offshore subsea equipment
• Polymer marine components
• Aquaculture plastic fabrication

Headquarters

HQ city

Åndalsnes

HQ country

Norway

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Supply Chain, Operations, Technology or R&D

Revenue model

1. Product Sales: Sale of standardized buoyancy products, floats, cable protection systems, mooring solutions, and marine navigation equipment across seismic, offshore oil and gas, renewables, aquaculture, and hydropower safety sectors
2. Custom Solution Development: Engineering and design services for bespoke solutions tailored to specific customer requirements in marine environments

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Partnerplast manufactures and supplies buoyancy solutions and custom plastic moulded components designed for marine and subsea use. Its products serve industrial customers in seismic surveying, offshore oil and gas, renewables, aquaculture, hydropower safety, and marine navigation and security.

Product overview

Ovun (an AIS brand) is a developer and manufacturer of high-tech buoyancy and plastic moulding solutions for marine environments. The product portfolio spans multiple industry segments including Seismic (tail buoys, navigation floats, gun systems, cable handling), Offshore Oil and Gas (mooring buoyancy, installation buoyancy, riser protection), Renewables (cable protection systems, distributed buoyancy), Aquaculture (Activa smart buoys, light masts, seaweed solutions), Hydropower Safety (barriers, marking systems, buoys, signs), and Marine Navigation and Security (fairway marking, navigation lights, security barriers). The company combines plastics moulding capabilities (rotational moulding, PU moulding, patterns and moulds) with integrated electronics development to deliver products with embedded electronic systems. Additional capabilities include engineering and design services, and plastic recycling for sustainability initiatives.

Differentiator

Problem solved

Functional benefit

Products and services

• Marine buoyancy solutions Engineered plastic buoyancy components designed to provide flotation and support in marine and subsea environments. Targeted at industrial operators in seismic survey, offshore oil and gas, renewables, aquaculture, hydropower safety, and marine navigation and security.
• Custom plastic moulded components for marine use Custom-manufactured plastic mouldings tailored to the requirements of harsh marine and offshore environments, including structural, protective, and functional parts. Supplied to industrial buyers across offshore energy, seismic, aquaculture, hydropower, and marine navigation sectors.

Quantifiable outcome

• Products proven to be very reliable and withstand the test of time in harsh seismic environments over 20+ years
• +1 more outcomes

Named customers1 record

Segments6 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Two partnerships are on record, tiered core.

• Imenco AquacoreStrategic or Co-development Partner · 1 January 2023Ovun and AIS acquired Imenco Aqua, expanding their capabilities in the aquaculture sector. This acquisition strengthens their position in the aquaculture market with Imenco Aqua's products and expertise.
• AIS (Advanced Innergy Holdings)coreStrategic or Co-development PartnerAIS (Advanced Innergy Holdings) is the parent company of Ovun. AIS completed listing on the Australian Securities Exchange, bringing Ovun under a publicly listed parent company.

Scale indicators4 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• Trelleborg Marine & Infrastructure: Trelleborg's offshore and marine division manufactures polymer-based buoyancy, cable protection, and fendering solutions for subsea and offshore energy, directly overlapping with Ovun's renewables and offshore O&G product lines via engineered plastics.

Direct peers

• MacArtney Group: MacArtney supplies buoyancy, cable protection, and marine electronics integration for subsea survey and offshore renewables, mirroring Ovun's combined plastics-and-electronics proposition for seismic and renewables customers.
• DeepWater Buoyancy: DeepWater Buoyancy designs and manufactures subsea buoyancy products and cable protection systems for offshore oil and gas, survey, and oceanographic applications, competing head-on with Ovun's distributed buoyancy portfolio.
• STM (Subsea Technology and Marine): STM specializes in subsea buoyancy, modules, and protection for offshore O&G and renewables, overlapping directly with Ovun's installation buoyancy and riser protection product families.
• Balmoral Offshore: Balmoral supplies buoyancy modules, cable protection, and riser protection for offshore energy and renewables out of the UK — closely comparable to Ovun's mooring buoyancy, installation buoyancy, and flexible protection offerings.

Regional players

• SUB-FLICKS / Subsea Industries: Subsea Industries provides cable and pipeline protection systems for offshore energy — comparable product category to Ovun's cable protection systems in marine and renewables applications.
• Teknotherm Marine: Teknotherm (Norway) designs and delivers polyurethane moulded buoyancy, fenders, and offshore products — a regional Norwegian plastics manufacturer directly comparable to Ovun's PU moulding capability.
• Salmon Solutions / AKVA Group: AKVA Group supplies mooring, nets, and smart aquaculture equipment for fish-farming operators — a relevant peer for Ovun's aquaculture segment following the Imenco Aqua acquisition.

Emerging players

• Cuming Corporation (Crestchic / Sound Ocean Systems): Cuming produces syntactic foam and polymer buoyancy for subsea and defense applications — an emerging peer competing in the high-performance subsea buoyancy space alongside Ovun's engineered plastics.
• Imenco (parent of Imenco Aqua): Imenco supplies subsea cameras, lights, and aquaculture monitoring equipment; its aquaculture division Imenco Aqua was acquired by Ovun/AIS, making Imenco an adjacent technology peer in marine electronics and aquaculture tooling.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Partnerplast