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

People & Company News

Madsen to Chair Norway’s Research Council Executive Board

Henrik O. Madsen appointed chairman of the executive board of the Research Council of Norway   DNV GL president and CEO Henrik O. Madsen was appointed as chairman

Port of Houston Expecting Record Year

The Port of Houston Authority is expecting 2014 to close as a banner year for the port, with 34 million tons of cargo handled through November, Executive Director

Hapag-Lloyd Completes CSAV Merger Capital Increase

Hapag-Lloyd completed the planned capital increase of EUR 370 million (approximately $452.5 million) as part of the business combination with the Chilean shipping

Finance

Oil is on the Rise

Oil prices rose in early trading on Monday as Asian markets opened strongly into a holiday-shortened week and as consensus spread that Brent crude prices would

Larger Tankers May Offer Better Return Chances

Investors looking for returns in the tanker markets can invest their capital in a variety of ways. Should an owner invest in a VLCC or an Aframax? How about an

US Plans to Shut Royalty Loophole on Coal Exports

U.S. coal companies will no longer be able to settle royalties at low domestic prices when they make lucrative sales to Asia according to reforms proposed by the Interior Department on Friday.

Environmental

NZ Report: Human Error to Blame for Rena Grounding

New Zealand's Transport Accident Investigation Commission (TAIC) published its final report into the grounding of containership Rena in October 2011. The TAIC’s

Costa Rica Approves APM Terminals Project

Port operator APM Terminals, a unit of Denmark's A.P. Moller-Maersk, said on Friday Costa Rica's environment agency had approved the construction of its Moin Container Terminal project.

NOAA: US to See More Floods from Sea Level Rise

Most of U.S. coast may see 30 or more days a year of floods up to 2 feet above high tides. By 2050, a majority of U.S. coastal areas are likely to be threatened

Energy

Oil is on the Rise

Oil prices rose in early trading on Monday as Asian markets opened strongly into a holiday-shortened week and as consensus spread that Brent crude prices would

Fighting for Ports Escalates in Libya

Military planes loyal to Libya's recognised government attacked on Sunday an opposing force that is seeking to seize the country's two biggest oil ports, officials said.

Security Threat in Yemen Shuts CNOOC's Nexen Facility

CNOOC Ltd's Nexen unit is shutting operations at an oil field and processing facility in Yemen due to a security threat, a Nexen spokeswoman said on Sunday.   The

Marine Power

Keeping to the Schedule in the Pacific Northwest

When a tightly scheduled repower for the Kodiak-based trawler Sea Mac in early December took a very bad turn, Mike Fourtner used his 25 years of fishing experience

New Chinese Shipyard Launches First Ship

The new shipyard facility of Honghua Offshore Oil & Gas Equipment Company in Jiangsu, China, has launched its first ship, an IMT982 Platform Supply Vessel. The vessel,

Multraship Buys Three More Tugboats from Damen

Multraship and Damen Shipyards Group agreed on three new ASD (Azimuth Stern Drive) Tugs, all for delivery to Multraship in 2015. After delivery in Vietnam, scheduled

 
 
Maritime Security Naval Architecture Offshore Oil Pipelines Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
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: 0.1504 sec (7 req/sec)