– Corvus Energy, a global leader in maritime energy-storage systems (ESS), has secured $60 million in growth capital from international investors.
– The investment round was led by Morgan Stanley Investment Management, with participation from Just Climate and J. Lauritzen.
– Founded in 2009, Corvus Energy pioneered maritime ESS and now powers over half of the world’s zero-emission vessels.
– The company has delivered 1,300 hybrid or all-electric ESS installations worldwide, totaling 1,300 MWh of installed capacity and over one million operating hours.
– Corvus’s technology has helped avert an estimated 11 million tonnes of CO₂ emissions to date.
– CEO Fredrik Witte stated the funding strengthens Corvus’s ability to meet rising global demand for zero-emission maritime solutions and affirms its market leadership.
– Vikram Raju, CFA, MSIM’s Head of Climate Private Equity Investing and 1GT, said: “Corvus Energy is the global market leader for a reason – their battery systems have an unmatched history of maritime safety, innovation and commercial competitiveness. Maritime decarbonization is a core theme for 1GT and we are honored to support Corvus in this next phase of the Company’s compelling story.”
– The new capital will support:
▪️Expansion of production capacity
▪️Faster global deployment of ESS solutions
▪️Continued product innovation
▪️Contribution to shipping industry decarbonization (currently 3% of global GHG emissions)
– Corvus Energy operates across 15 global locations with manufacturing sites in Norway, Canada, and the United States.
– The company offers the broadest portfolio of maritime ESS products, spanning multiple chemistries and performance profiles.
– Notable recent projects include:
▪️The world’s largest fully-electric vessel and fast ferry (42 MWh Dolphin Energy ESS), built by Incat for Buquebus, to be commissioned by year-end.
▪️The world’s first fully-electric offshore vessel (Blue Whale eCSOV) featuring a 25 MWh LFP-based system — the largest LFP battery used in maritime to date.
– CFO Mette Rokne Hanestad emphasized that the funding enables Corvus to expand while maintaining its innovation edge, reducing both emissions and operational costs for shipowners.
– The funding round is expected to close in the coming weeks, with details to follow.
– Alexa Capital and Schjødt advised Corvus Energy on the transaction.
