Corvus Energy Acquires Grenland Energy

Shailaja A. Lakshmi
Wednesday, February 6, 2019

Corvus Energy Holding, the Energy Storage Systems (ESS) supplier to the maritime industry, has signed an agreement to acquire all shares in the Norway-based Grenland Energy, which develops and manufactures lightweight lithium-ion batteries for the maritime, offshore and subsea industry.

“The market for battery storage is increasing rapidly. It is the perfect time to combine resources, competencies, and technologies with an optimized global footprint. We are eager to join forces with innovative companies such as Grenland Energy to offer extended and more specialized solutions and services,” said Geir Bjørkeli, CEO of Corvus Energy.

With this acquisition, lightweight and subsea batteries are added to Corvus Energy’s existing portfolio of large-scale maritime ESSs, strengthening Corvus Energy’s market-leading position as a complete supplier of batteries for a wide variety of seaborne applications.

The current operations of Grenland Energy will continue without interruption, and Grenland Energy customers will benefit from Corvus Energy’ global sales and service capabilities.

Bjørkeli said: “Corvus will offer Grenland Energy automated and efficient manufacturing, a global service network and easier access to global markets. The Grenland team will play a vital role in future R&D programs within the Corvus family and help shape a hub for leading battery technology in the Grenland region. And as in the past, Corvus Energy will continue to focus on innovation, quality and safety and to foster a long-term view on customer relations.”

Upon completion of the acquisition, the business of Grenland Energy will be fully integrated with the operations in Corvus Norway AS, which is based in Bergen, Norway.

The Grenland Energy office will continue and expand its current operation in the Grenland region of Norway. The shareholders in Grenland Energy will continue as shareholders in Corvus Energy Holding AS.

Categories: Energy Mergers & Acquisitions Power Generation

Related Stories

Ventura Offshore’s Semi-Sub Rig to Keep Drilling for Eni in Asia

SBM Offshore Starts Construction of FSO for Trion Oil Field off Mexico

Hanwha Ocean's Tidal Action Drillship Starts Maiden Job with Petrobras

Brownfield Output Decline Accelerates, says IEA

POSH Set to Tow Nguya FLNG from China to Eni’s Congo Field

DOF Secures Moorings Hook-Up Job in Asia Pacific

Saipem Bags $1.5B Contract for Türkiye Largest Offshore Gas Field

Saipem Wins FEED Contract For Abadi LNG Project FPSO Module In Indonesia

EnQuest Acquires Harbour Energy’s Vietnamese Assets

Japanese Oil and Gas Firm Enters Two Blocks off Malaysia

Current News

Ventura Offshore’s Semi-Sub Rig to Keep Drilling for Eni in Asia

SBM Offshore, SLB to Optimize FPSO Performance Using AI

MODEC Ramps Up Hammerhead FPSO Work After ExxonMobil's Go-Ahead

Aesen, DOC JV Targets Subsea Cable Logistics

Timor Gap Boosts Stake in Finder Energy’s Timor-Leste Oil Fields

SBM Offshore Starts Construction of FSO for Trion Oil Field off Mexico

Russia Targets 2028 for Sakhalin-3 Gas Project Start Up

Seatrium Secures ABS Backing for Deepwater FPSO Design

MDL Secures Cable Laying Job in Asia Pacific

Hibiscus Petroleum Starts Drilling at Teal West Field off UK

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com