Corvus Energy, GMC Close Financing Agreement

Monday, July 28, 2014

Corvus Energy today announced that it has completed a strategic investment by Green Marine Capital (GMC) previously announced on May 5, 2014. Green Marine Capital, an investment partnership of global maritime companies that draws on the maritime heritage of the BW Group and DNV GL to assist Corvus deliver its growth strategy.

“We are very pleased to complete this process and continue to drive both the commercial success and the innovation of our solutions not only for the maritime industry, but also in a number of adjacent sectors where our value proposition and competitive advantage is well established,” commented Andrew Morden, Interim CEO of Corvus. “GMC has demonstrated that it will be able to provide financial, operational, and legal expertise, which will greatly assist Corvus in growing a profitable business that drives shareholder value.”

Corvus Energy has the largest portfolio of deployed Energy Storage Systems (ESS) in the marine industry making up over 90% of the marine market and the greatest breadth of experience in the sector. Designed to provide rugged high power energy storage, Corvus systems are found in hybrid and fully electric powered offshore supply vessels, tugboats, and ferries. Corvus Energy systems are also in the process of being adopted in hybrid port cranes, electric light rail, hybrid trains, as well as in several other applications. As the only lithium battery purpose designed for the challenges of working in a heavy industrial environment, the Corvus solution is also the only one to carry DNV, Lloyd’s Register, and ABS Type Approval certification.

“At Green Marine Capital, we’re investing in companies with technology that can make ships more fuel efficient and environmentally-friendly.” said Sverre Prytz, Managing Director at Green Marine Capital. “Batteries and hybrid electric solutions have demonstrated this and will play a significant role in the maritime market in the years to come. Corvus has been the pioneer in this sector and the combination of its differentiated technology, a growing market, and the team’s demonstrated record of success makes this a compelling opportunity.”

corvus-energy.com

greenmarinecapital.com
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Elandra Yachts Expands, Launches Finishing Department

Elandra Yachts has added another layer of craftsmanship to its boat-building operation with the launch of a new in-house paint department at the Gold Coast plant,

Baltic Dry Bulk Index Dips on Weak Demand

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, continued to dip on Wednesday due to sluggish demand across vessel segments.

OMB - Subchapter M Cleared for Publication

The Office of Management and Budget (OMB) completed its review of the draft final rule entitled Inspection of Towing Vessels, also known as "Subchapter M." The

News

Bureau Veritas Acquires TMC Marine

Bureau Veritas has acquired international consultancy TMC Marine Ltd.    TMC has provided pre- and post-casualty advice and support to the marine industry since 1979.

Harley Marine Orders Two Harbor Tugs

Harley Marine Services announced the construction of two new ship handling vessels to be built at Diversified Marine in Portland, Ore. The two tugs are sister class

Sipu Muin Modernization Work to Begin in May

Canadian Coast Guard plans upgrades for Air Cushion Vehicle   A scheduled modernization of the Canadian Coast Guard CCGS Sipu Muin will see the Air Cushion Vehicle

Offshore Energy

Skandi Paraty Delivered and On-hire

Skandi Paraty, owned by Norskan Offshore Ltda, has been delivered from the yard and went on-hire on a four years contract with Petrobras.   Skandi Paraty is an AHTS,

ABB Transformers for the Most Powerful Wind Turbines

ABB will deploy 40 special transformers to equip wind turbines for an offshore wind farm in the Irish Sea. The MHI Vestas Offshore Wind turbines are 195 m (640

Wind-powered Oil Recovery Project Green-lighted

The DNV GL-led WIN WIN Joint Industry Project (JIP), which melds offshore wind with offshore oil and gas, shows that for suitable fields,finds that  wind-powered

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Salvage Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | 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: 0.1327 sec (8 req/sec)