Big oil invests in marine battery company

Industry Database

A marine energy storage company has announced that it has finalized an investment deal with Shell Ventures, the corporate venture capital arm of Royal Dutch Shell plc.

The investment in Canada’s Corvus Energy 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 is a leading developer and supplier of advanced energy storage systems (ESS) for maritime, offshore, subsea and port applications. Their range of lithium-ion battery ESSs are integral to the propulsion and power management systems of more than half of the battery-hybrid and zero-emission vessels worldwide. The investment will help Corvus Energy expand internationally and further enhance its technological leadership within maritime energy storage.

As a pioneer in 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. Corvus has successfully demonstrated its innovative and patented technology effectively helps reduce fuel consumption and emissions, while exceeding the offshore sector’s stringent performance, safety and operational requirements.

By Jake Frith

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