Corvus Energy Gets Shell Ventures Investment

August 12, 2019

Pic: Corvus Energy
Pic: Corvus Energy

Canadian-Norwegian battery maker Corvus Energy announced that it has finalized an investment deal with Shell Ventures.

The investment is a step towards Shell’s ambition to decrease the carbon footprint of the energy products they sell by around 20% by 2035 and by around 50% by 2050, in step with society.

Corvus Energy,  the developer and supplier of advanced energy storage systems (ESS) for maritime, offshore, subsea and port applications, said that the investment will help Corvus Energy expand internationally and further enhance its technological leadership within maritime energy storage.

Corvus Energy has delivered ESSs for more than 30 offshore support vessels, in addition to various subsea applications and solutions for regenerative energy solutions from mechanical equipment.

Geir Bjørkeli, CEO of Corvus Energy said: “To have strong and active owners has been crucial to our success and has taught us that by working closely with strategic investors we can achieve great results. A good example is what we achieved with Equinor, which has now become the model and inspiration for the rest of the world.”

Bjørkeli added: “To have Shell onboard as an investor means that we can reach out to a much larger market and apply our technology to more rigs and platforms as well as continue the hybridization of offshore vessels. We look forward to working with Shell to power a clean future and support Shell’s determination to make their operations more sustainable.”

“Corvus Energy is strong partner for Shell,” said Kirk Coburn, Investment Director in Shell Ventures.

“The energy sector is going through a major transition as the trend towards renewable generation and electrification of many sectors accelerates. Current hybrid and zero-emission projects have proven that the potential for reducing costs and cutting emissions are substantial, which Shell will take advantage of in its offshore operations,” Coburn added.



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