Corvus Energy Gets Green Marine Capital Backing

Posted by George Backwell
Thursday, May 08, 2014
Image: Corvus Energy

Lithium-ion battery systems manufacturer, Corvus Energy, says agreement in principle has been reached with BW Ventures’ Green Marine Capital (GMC), a Maritime Technology Investment Partnership, for a strategic investment of US$5 million to fund working capital requirements. Corvus also says that Andrew Morden, Chief Financial Officer, has been appointed interim CEO replacing Brent Perry effective May 5, 2014.

“The Board of Directors and majority shareholders of Corvus are very pleased to partner with Green Marine Capital. The firm is focused on the benefits that our technology brings to the marine industry and understands its future potential.” commented Nick Andrews, Chairman of the Corvus Board of Directors.

“GMC is an industry leader and they have the capability to promote our technology quickly and globally and accelerate its deployment into the marketplace. GMC also has access to highly experienced engineers and operators as well as access to a network of legal, financial, and maritime experts that can greatly assist Corvus in growing a profitable business that drives shareholder value.”

“The Company has made tremendous strides in both establishing a market and building an industry leading product in a short period of time.” said Andrew Morden. “We have made substantial commercial inroads with some of the marine industry’s most important players, and I am very excited to take on the challenge of leading the Company through this transition period and onto the next level of success.

About Corvus Energy

The Company provides industrial-sized power in compact, modular lithium-ion battery systems to primarily the commercial marine market. Its battery packs have the capacity to output sustained power comparable to diesel engines in hybrid and full-electric vessels and vehicles.

www.corvus-energy.com.
 

 

 

 

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Keystone XL Costs to Nearly Double - TransCanada

The total cost of TransCanada Corp's controversial Keystone XL pipeline is likely to nearly double following six years of regulatory delays, a company spokesman said on Friday.

Chevron To Find Buyers for Hawaiian Refinery

Chevron Corp has hired an investment bank to identify potential buyers of its 54,000 barrel-a-day refinery in Kapolei on the Hawaiian island of Oahu, a company official said.

Rotterdam Integrates Safety Research with LNG Training Facility

The Dutch company Falck Risc is becoming the number one expert on LNG safety in Europe. Together with the Unified Fire Department, Falck Risc will draw up guidelines

Finance

Deep Sea Supply takes Delivery of 'Sea Triumph'

The Deep Sea Supply  took delivery of the newbuilding Platform Supply Vessel 'Sea Triumph'  on Thursday 18 September.  The vessels 'Sea Triumph' is a STX 05-L

Chevron To Find Buyers for Hawaiian Refinery

Chevron Corp has hired an investment bank to identify potential buyers of its 54,000 barrel-a-day refinery in Kapolei on the Hawaiian island of Oahu, a company official said.

Colombia's Ecopetrol Sees Recovery in 2015

Colombia's top energy company Ecopetrol is targeting production of 1 million barrels of oil equivalent per day in 2015, a steep recovery over this year, clouded

Environmental

University of California Not to Divest from Fossil Fuels

The University of California voted on Friday to maintain its investments in fossil fuels, frustrating a student-led effort to divest its portfolio in oil, natural gas and coal.

Chevron To Find Buyers for Hawaiian Refinery

Chevron Corp has hired an investment bank to identify potential buyers of its 54,000 barrel-a-day refinery in Kapolei on the Hawaiian island of Oahu, a company official said.

Vessel Discharge Legislation Awaits Congressional Nod

The American Waterways Operators, a 350-member trade association representing the U.S. tugboat, towboat and barge industry, hailed the House introduction of

Energy

Deep Sea Supply takes Delivery of 'Sea Triumph'

The Deep Sea Supply  took delivery of the newbuilding Platform Supply Vessel 'Sea Triumph'  on Thursday 18 September.  The vessels 'Sea Triumph' is a STX 05-L

Tropical Storm Polo Threatens Battered Mexican Resort of Los Cabos

Tropical storm Polo barreled nearer on Friday to the Mexican Pacific resort of Los Cabos where thousands of troops were restoring order following widespread

Keystone XL Costs to Nearly Double - TransCanada

The total cost of TransCanada Corp's controversial Keystone XL pipeline is likely to nearly double following six years of regulatory delays, a company spokesman said on Friday.

Marine Power

Dann Marine Repowers With Cummins Tier 3 Engines

Dann Marine Towing, LC., is a fifth generation family owned and operated tugboat company based in Chesapeake City, MD. The model-bow twin-screw tug Sea Coast was

General Dynamics Wins US Navy Award for F/A-18 Mission Computers

General Dynamics Advanced Information Systems, a business unit of General Dynamics, was awarded a $16.2 million contract by the U.S. Navy to produce Type-3 Advanced

Vroon’s VOS Famous Launched

Vroon’s newbuilding ERRV, VOS Famous, was launched in China yesterday. This 50-m ERRV (emergency response and rescue vessel) is under construction at Nanjing East Star Shipyard.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Pipelines Port Authority Salvage Ship Repair Ship Simulators
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1272 sec (8 req/sec)