Shell Ventures invests in Corvus Energy
Corvus Energy has finalised an investment deal with Shell Ventures to support the global development of its maritime energy storage solutions.
Focusing on developing and supplying advanced energy storage systems (ESS) for maritime, offshore, subsea and port applications, Corvus Energy has a range of lithium-ion battery ESS and has delivered ESS solutions 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 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.”
Corvus Energy has already demonstrated that its technology effectively helps reduce fuel consumption and emissions. Earlier this year, the company launched its Corvus Blue Whale next generation ESS. It features a larger battery than previous developments and is aimed at cruise ships, ro-pax and ro-ro vessels.
The investment is a step towards Shell’s ambition to decrease the carbon footprint of the energy products it sells by around 20% by 2035 and by around 50% by 2050.
“Corvus Energy is strong partner for Shell,” says 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.”
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