IEV Group
Founded in 1986 in Malaysia, IEV Group provides asset integrity management and corrosion-protection solutions to upstream and downstream oil and gas operators, plus offshore wind clients, across 21 Asia Pacific countries. Core offerings include the patented Marine Growth Preventer and digital structural health monitoring systems.
- Company typePrivate
- Founded1987
- HeadquartersEsbjerg, Denmark
- Headcount11–50
- GTM typeB2B
- OfferingServices
What IEV Group does
IEV Group is an asset integrity management company founded in 1986 and headquartered in Petaling Jaya, Malaysia, serving the upstream and downstream oil and gas industry, with growing exposure to offshore renewables. Its core technology is the patented Marine Growth Preventer (MGP), invented in 1987 and installed in over 36,000 units across 500+ offshore structures worldwide. The product portfolio has expanded to include the typhoon-rated MGP-i, Galvo-String cathodic protection systems, Revowrap composite repair, and digital platforms Poseidon SHM (structural health monitoring) and DCBMS (digital corrosion and biofouling management). Through its AIMS sub-brand, the company also delivers through-life integrity consultancy (TICIS) and decommissioning services (DSS), with 16+ decommissioning studies completed since 2005.
The company operates a project- and specification-driven business model, selling engineered products and bundled inspection/repair services to national oil companies, international oil companies, terminal operators, and offshore wind developers across 21 Asia Pacific countries. Exclusive distribution agreements (notably Alocit coatings across 21 markets) and partnerships with subsea specialists (Rotech Subsea, Galvotec, Sonomatic, CorrosionRADAR) are layered onto a regional footprint consisting of subsidiaries in Hong Kong (IEV International), Vietnam (IEV Vietnam LLC), and India (Carbontech Infra & Engineering and IEV Engineering). IEV has shifted its center of gravity from discrete hardware sales toward recurring integrity services, evidenced by the 2025 launch of digital twin and AI-integrated monitoring offerings through its Aerodyne partnership.
Revenue is generated primarily through engineered product sales, multi-year integrity service contracts, and discrete decommissioning and retrofit projects. The 11–50 employee headcount, combined with regional offices and an exclusive distribution network, points to a privately held, founder-led business (Christopher Do as founder/CEO/CTO) operating without disclosed external funding rounds.
IEV Group firmographics
Firmographics- Name
- IEV Group
- Legal name
- IEV Group Sdn Bhd
- Website
- https://iev-group.com
- Company type
- Private
- Founded year
- 1987
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Founded in 1986 in Malaysia, IEV Group provides asset integrity management and corrosion-protection solutions to upstream and downstream oil and gas operators, plus offshore wind clients, across 21 Asia Pacific countries. Core offerings include the patented Marine Growth Preventer and digital structural health monitoring systems.
- Ownership category
- akta.pro rank
IEV Group industry classification
Industry- Product category
- Offshore Asset Integrity Management
- NAICS
- Oil and Gas Field Machinery and Equipment Manufacturing (333132), Engineering Services (54133), Electronic and Precision Equipment Repair and Maintenance (8112), Ship Building and Repairing (336611)
- SIC
- Oil & Gas Field Machinery & Equipment (3533), Industrial Instruments For Measurement, Display, And Control (3823), Misc Industrial & Commercial Machinery & Equipment (3590)
- akta.pro primary industry
- EHS Auditing, Inspections & Assurance (BPAHAJAG)
- akta.pro secondary industries
- Safety, Fire Protection & Emergency Systems (Firewater, Gas Detection, Rescue) (IMAJALAL), Leak Detection, Emissions & LDAR Testing (OGI, methane, fugitive emissions) (EUAEAHAL)
Keywords
Where IEV Group is headquartered
LocationHeadquarters
- HQ city
- Esbjerg
- HQ country
- Denmark
- HQ region
- Europe
Offices4 records
Markets served
IEV Group business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Supply Chain
Revenue model
- Asset Integrity Management Services: Integrated maintenance products and services for offshore oil and gas infrastructure including inspection, repair, and rehabilitation solutions. Delivered through project-based contracts with major energy operators.
- Technology Licensing & Products: Proprietary technologies including MGP devices, Revowrap composite repair systems, and Galvo-String/Galvo-Array cathodic protection products sold or licensed to operators.
- Offshore Windfarm Solutions: Solutions for both new and existing offshore wind farms including wind data collection, seabed survey, cable burial, and pile grouting services.
- Decommissioning Studies & EPRD: Engineering, preparation, removal, disposal and reuse solutions for end-of-life offshore facilities. Includes feasibility studies, cost estimation, and project management consultancy.
Go-to-market motion1 record
Distribution channels4 records
Marketing channels5 records
IEV Group product offering
Product offeringCore offering
IEV Group provides asset integrity management services and proprietary technologies for offshore oil & gas and offshore wind infrastructure. Its core business combines engineering services (inspection, integrity management, repair, maintenance, coating, decommissioning/EPRD) with proprietary hardware such as the Marine Growth Preventer (MGP) anti-fouling system, Galvo-String/VTA cathodic protection retrofit systems, the Poseidon structural health monitoring digital-twin platform, and robotic tank cleaning and drone inspection technologies, sold and licensed to operators across Asia-Pacific.
Differentiator
Problem solved
Functional benefit
Brands
- AIMS (Asset Integrity Management Sector): Core business sector providing structural integrity solutions, corrosion control, tank inspection, marine growth prevention, digital monitoring and repair services for oil and gas assets.
- DSS (Decommissioning Solutions Sector)
- OWS (Offshore Windfarm Sector)
- TICIS (Tank In-Service Cleaning & Inspection Solutions)
- MGP (Marine Growth Preventers)
Products and services
- Marine Growth Preventer (MGP) System IEV's proprietary ocean-current-powered anti-fouling device for offshore platforms, subsea structures and wind turbine monopiles; the platform spans the original MGP, the MGP-i typhoon-proof generation for harsh-environment sites, and the MGP-J-HLE high-load variant for jackets and other heavy structures.
- Asset Integrity Management Services End-to-end integrity management for offshore platforms, FPSOs, pipelines, terminals and offshore wind farms, including inspection, structural health monitoring, retrofit, repair, maintenance, coating and engineering consultancy across the asset lifecycle.
- Tank In-Service Cleaning & Inspection Solutions (TICIS) Robotic systems and services for cleaning and inspecting cargo and storage tanks while in service, reducing downtime and eliminating confined-space entry for marine terminal, FPSO and bulk storage operators.
- Galvo-String / VTA Cathodic Protection Retrofit Retrofit cathodic protection system combining distributed Galvo-String anodes with Vessel/Tank Anode (VTA) technology to extend the service life of platforms, FPSOs and storage tanks without requiring drydocking.
- Poseidon Structural Health Monitoring (SHM) Platform Digital-twin-based structural health monitoring platform providing continuous integrity data for offshore platforms, wind turbine foundations and other marine structures.
- Skipper NDT Drone Inspection Services Drone-based non-destructive testing platform for visual and NDT inspection of offshore assets, reducing the need for rope-access or scaffolding work at height and over water.
- Decommissioning & EPRD Services Engineering, preparation, removal and disposal (EPRD) studies and execution support for end-of-life offshore platforms, subsea infrastructure and marine terminals.
- Offshore Windfarm Integrity Solutions Integrity management, corrosion protection (MGP anti-fouling, Galvo-String cathodic protection), structural health monitoring and inspection services tailored for offshore wind turbine foundations, substations and submarine cables.
Quantifiable outcome
- Over 50% cost reduction in CP retrofit vs conventional anode installation methods
- +5 more outcomes
Companies that use IEV Group
Customer profileNamed customers4 records
Segments4 records
Ideal customer profiles3 records
IEV Group technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration22 records
AI capability11 records
Feature8 records
IEV Group partnerships and signals
Strategic signalPartnerships
13 partnerships are on record, tiered core and secondary.
- Aerodyne GroupcoreStrategic partnership with global top-tier drone service provider operating in 45+ countries. Collaboration on advanced monitoring technologies including Distributed Fiber-Optic Sensing, Satellite InSAR, UAV-LiDAR, and Skipper NDT Drone for pipeline and infrastructure monitoring.
- FTI International (member of CWL Group, sister company of Sonomatic)coreCollaboration for Tank In-Service Cleaning and Inspection Solutions (TICIS) using robotic crawlers for no-man-entry tank cleaning. FTI has provided TICIS to over 700 facilities worldwide.
- ECT (Malaysian developer of Bio-Solv)secondaryPartnership for sludge treatment solution using water-based biodegradable surfactant to break down hard sludge for robotic pump-out and subsequent oil recovery.
- Rotech Subsea LimitedcorePartnership to bring world-class subsea trenching and excavation technologies to Vietnam, Japan, Malaysia, Indonesia, and India. IEV localizes ROTECH's Controlled Flow Subsea Excavation, Jet Trenching equipment, and Subsea Grabs & Cutters for the offshore oil and gas and wind markets.
- Alocit International LimitedcoreExclusive distribution partnership for Alocit Coatings, a specialized wet/dry coating system for splash zones and marine vessels, across 21 countries in Asia Pacific including Malaysia, Australia, China, Japan, India, and Southeast Asian nations.
- RemotioncorePartnership to supply and support Magnetic Remote Operated Vehicles (M-ROV) for hull repair, maintenance, and surface treatment in the marine and offshore industry across Asia Pacific. Remotion is a Norwegian company.
- Sensorlink Swarm AScorePartnership to bring non-intrusive wall thickness measurement technologies PipeMonit and UltraMonit for remote corrosion and erosion rate monitoring for onshore and subsea pipelines.
- OmniflexcoreAlliance to bring PowerView CP cloud-based remote cathodic protection monitoring to South East Asia, India and Nigeria. Omniflex provides 50-year expertise in remote monitoring solutions for CP systems, tank farms, and industrial equipment.
- Galvotec Corrosion Services LLCcoreTechnology partnership for platform-deployed cathodic protection retrofit solutions including Vertical Tensioned Anode (VTA) and Galvo-String galvanic anode systems. Partnership also extended to Galvo-Array for subsea pipeline CP retrofit.
- SonomaticcorePartnership for advanced inspection solutions including diverless riser inspection using MEC and PEC techniques via subsea robotics, and pipeline integrity assessment using direct assessment methods.
- SubC Partner A/ScoreExclusive distributor for Marine Growth Preventer (MGP) products in Denmark, serving the Scandinavian and European markets.
- CorrosionRADARcorePartnership for distributed corrosion monitoring system using embedded smart-wire sensors and predictive analytics for Corrosion Under Insulation (CUI) detection.
- UTP (Universiti Teknologi PETRONAS)secondaryPoseidon Structural Health Monitoring technology developed in Malaysia by UTP, integrated into IEV's digital solutions portfolio.
Scale indicators13 records
Recent moves6 records
Expansion highlights5 records
IEV Group competitors and assessment
Company assessmentBroad incumbents
- Bureau Veritas: Bureau Veritas is a global testing, inspection, and certification (TIC) firm serving the energy and infrastructure sectors with asset integrity, certification, and laboratory services. It overlaps with IEV in structural integrity, corrosion control, and inspection-driven asset assurance but at a far broader industry and geographic scale.
- Aker Solutions: Aker Solutions is an established global engineering and offshore services company providing integrity management, modification, and decommissioning projects for upstream operators. It is comparable to IEV's DSS and offshore platform integrity work but at materially larger scale and broader portfolio.
- DNV: DNV provides energy advisory, certification, and digital asset integrity services to offshore oil and gas and renewables clients globally. Comparable to IEV in structural integrity, life extension, and standards-driven integrity assurance work, particularly through API and ISO frameworks referenced by IEV's Poseidon SHM platform.
- Applus+ IDIADA: Applus+ (formerly Applus Servicios Tecnológicos) is a global testing, inspection, and certification provider serving energy, oil and gas, and infrastructure markets. Comparable to IEV through its asset integrity, inspection, and NDT service lines spanning offshore and industrial assets.
- Subsea 7: Subsea 7 delivers subsea engineering, construction, and inspection, maintenance, and repair (IMR) services to offshore oil and gas operators. Comparable to IEV's offshore platform integrity and subsea inspection offerings, though Subsea 7 operates at significantly larger project and fleet scale.
Direct peers
- Oceaneering International: Oceaneering provides offshore energy and defense services including subsea intervention, inspection, and asset integrity solutions. It is comparable to IEV because both serve offshore oil and gas operators with integrity management, marine growth mitigation, and inspection technologies for platforms, pipelines, and marine structures.
- Stork (Fluor): Stork, a Fluor company, delivers asset integrity management, inspection, and maintenance services to the oil and gas, power, and petrochemical industries. It directly parallels IEV's AIMS sector offering in inspection, corrosion control, and reliability services for offshore and industrial assets.
- Rosen Group: Rosen is a global leader in pipeline inspection, integrity solutions, and corrosion management services across onshore and offshore oil and gas. Its portfolio of inline inspection, integrity assessment, and field services directly mirrors IEV's pipeline integrity, Spectrum XLI, and Skipper NDT offerings.
- Mistras Group: Mistras provides non-destructive testing, inspection, and asset protection solutions to oil and gas, aerospace, and infrastructure clients. Its portfolio of NDT and structural health monitoring services closely mirrors IEV's Poseidon SHM, advanced inspection, and integrity offerings.
Emerging players
- Halfwave AS: Halfwave specializes in acoustic-based pipeline inspection and integrity solutions for oil and gas operators. It is comparable to IEV's pipeline integrity offering including Spectrum XLI and Skipper NDT, representing a niche emerging peer focused on indirect inspection of buried and unpiggable pipelines.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
IEV Group social profiles
Digital presenceIEV Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
IEV Group leadership team
Management profileNumber of profiles
Profiles1 record
IEV Group subsidiaries and ownership
Company hierarchySubsidiaries1 record
IEV Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
IEV Group 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 IEV Group
What does IEV Group do?
IEV Group provides asset integrity management services and proprietary technologies for offshore oil & gas and offshore wind infrastructure. Its core business combines engineering services (inspection, integrity management, repair, maintenance, coating, decommissioning/EPRD) with proprietary hardware such as the Marine Growth Preventer (MGP) anti-fouling system, Galvo-String/VTA cathodic protection retrofit systems, the Poseidon structural health monitoring digital-twin platform, and robotic tank cleaning and drone inspection technologies, sold and licensed to operators across Asia-Pacific.
Is IEV Group a public or private company?
IEV Group is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was IEV Group founded?
IEV Group was founded in 1987. It employs 11 to 50 people.
Where is IEV Group based?
IEV Group is headquartered in Esbjerg, Denmark, in the Europe region.
How does IEV Group make money?
Four revenue lines are on record. Asset Integrity Management Services are the primary driver. The others are technology Licensing & Products, offshore Windfarm Solutions and decommissioning Studies & EPRD.
Who are IEV Group's main competitors?
Broad incumbents on record are Bureau Veritas, Aker Solutions, DNV, Applus+ IDIADA and Subsea 7. Direct peers are Oceaneering International, Stork (Fluor), Rosen Group and Mistras Group. Halfwave AS is listed as an emerging player.
Does IEV Group have an API?
No public API is recorded for IEV Group.
What industry is IEV Group in?
IEV Group's product category is Offshore Asset Integrity Management. Its primary akta.pro industry code is BPAHAJAG, EHS Auditing, Inspections & Assurance, with a secondary code of IMAJALAL, Safety, Fire Protection & Emergency Systems (Firewater, Gas Detection, Rescue). Its NAICS code is 333132 and its SIC code is 3533.