Shell Ventures has completed a major investment in Corvus, a company which develops maritime energy storage solutions to a global market.
Corvus Energy provides high power energy storage in the form om modular lithium-ion battery systems for marine, oil & gas, subsea and port applications. The battery systems provide both hybrid and fully electric solutions to heavy industrial equipment.
Equinor Technology Ventures (ETV) has been a shareholder in Corvus in 2015. The investment was made to support Equinor’s climate roadmap and reduce carbon footprint from marine operations, and to accelerate the development and commercialisation of marine energy storage systems (ESS). Corvus has so far delivered ESS for more than 30 offshore support vessels, of which 11 are contracted by Equinor.
The main shareholders along with ETV are Hydro Venture and BW Group. In addition, there is a group of Canadian investors.