Corvus Secures $4.9 Mln Credit Facility

Export Development Canada (EDC) has announced the closing of a CAD$6.5 million (US$4.9 million) contract financing credit facility for Corvus Energy Inc., a Richmond, BC-based  designer, developer and manufactureer of energy storage systems (ESS) and lithium-ion battery solutions for hybrid and electric marine applications.

The financing will allow Corvus to fulfill various export contracts, primarily for hybrid ferries in Europe, EDC said.

“The electrification of the maritime industry in Europe is accelerating and the award-winning Orca ESS from Corvus Energy is facilitating that transition,” said Andrew Morden, President and CEO of Corvus Energy. “This credit facility will allow Corvus to aggressively ramp up production to meet the growing demand for our technology which now leads the industry in project wins.”