Corvus Energy Gets Shell Ventures Investment

Shailaja A. Lakshmi
Monday, August 12, 2019

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.

Categories: Energy Batteries Storage Investment

Related Stories

Shell’s Brazil-Bound FPSO Starts Taking Shape

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

Seatrium Secures ABS Backing for Deepwater FPSO Design

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

Aquaterra Energy Nets Subsea Analysis Contracts with INPEX off Indonesia

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

Floating Offshore Wind Test Center Planned for Japan

Synergy Marine Group Completes Conversion of LNG Vessel to FSRU

Norwegian Oil Investment Will Peak in '25

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

Current News

Shell’s Brazil-Bound FPSO Starts Taking Shape

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

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