A statement signed by Mr Atle Kigen, Head of Communications of Aker Group, said the initiatives would contribute towards preservation and sustainable use of the ocean and marine resources through strong private sector engagement and technology drives.

It said the initiatives, including the Centre for the Fourth Industrial Revolution (C4IR) in Norway, would receive six million dollars, the Ocean Data Platform would receive three million dollars, and the Plastic REVolution would be given two million dollars.

It quoted Mr Oyvind Eriksen, the President and Chief Executive Officer of Aker as saying that "Throughout its 180-year history, the group had been a driving force in the development of knowledge-based industry related to ocean resources. All our industrial activities are part of the ocean economy."

"Today, our ocean is at risk and changes are needed. I strongly believe that solutions for the ocean are developed more robustly and swiftly if businesses like Aker join forces with governments, NGOs and other stakeholders. A healthier ocean is a shared interest".

The USD 11 million pledge will cover costs for the next three years.

Ms Nina Jensen, the Chief Executive Officer of REV Ocean, was quoted as saying: "We will create disruptive technology solutions for Our Ocean, starting with gathering and sharing facts".

"The Ocean Data Platform will gather and liberate data, enabling solutions and people – for one healthy ocean".

The statement said the technology centre would welcome public and private partners to create collaborative solutions for the environment.

It said the initiative would translate ideas into action, through initiatives such as the Plastic REVolution Foundation, which was created to develop commercially viable and scalable solutions to fight plastic pollution.

The Affiliated Centre for the Fourth Industrial Revolution in Norway is being developed by the Aker Group and The Resource Group's philanthropic initiatives.

Focusing on the ocean health and wealth, it will be the only centre in the World Economic Forum's C4IR Network that is dedicated to the environment.

The Centre will cooperate with the business community, research institutions, and in close dialogue with the Government of Norway, the High-Level Panel for a Sustainable Ocean Economy and others to design and pilot technology solutions and innovative policy frameworks.