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    Statoil Technology Invest invests in Corvus

    Company News // November 5, 2015

    Corvus Energy, the manufacturer of lithium ion energy storage systems (batteries) for maritime hybrid and fully electric propulsion systems, has announced the closing of an investment from Statoil Technology Invest.

    Corvus technology powers more than 35 commercial hybrid and electric vessels around the world, with an installed-base totalling over 30 megawatt-hours. Vessels and equipment hybridized or fully electrified with the Corvus ESS consume less fuel, operate more efficiently and effectively, and emit substantially less greenhouse gases.

    “We are building on our success in the offshore supply and service market where we have successfully demonstrated our technology is perfectly suited to the sector’s stringent performance, safety and operational requirements. Offshore supply vessels like Viking Lady and Edda Ferd that employ the Corvus ESS are field-tested and proven to meet and exceed performance and safety expectations. These vessels run at peak efficiency for longer periods of time, saving fuel and maintenance costs and dramatically reducing emissions," said Andrew Morden, President & CEO of Corvus Energy.

    “Now, with the release of new class rules pertaining to both batteries and DP, Corvus’s ESS system will further enable the reduction in both the size and number of generator sets in DP vessels and vessels will be able to operate more efficiently and less fuel."

    “We are very pleased to invest in Corvus Energy, a recognized leader in large-scale energy storage systems for marine applications. Their products give them a competitive advantage for expanding into the offshore sector. We see initial applications in vessels, with long term potential to apply the same technology to rigs and platforms, which will contribute to Statoil’s ambition to reduce CO2 emissions. This investment also represents an exciting opportunity to accelerate the growth of hybrid marine technology complementing Statoil’s increased focus on alternative energy solutions,” said Richard Erskine, Managing Director of Statoil Technology Invest.

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