Corvus battery technology receives Statoil investment

Corvus Energy has announced an investment from Statoil Technology Invest for the development of its lithium ion energy storage systems (ESS) for the offshore oil and gas industry.

Vessels and equipment hybridised or fully electrified with the Corvus EES are said to consume less fuel, operate more efficiently and emit substantially less greenhouse gases.

“We are very pleased to invest in Corvus Energy, a recognised leader in large-scale energy storage systems for marine applications. Its products and unparalleled expertise give them a competitive advantage for expanding into the offshore sector,” said Richard Erskine, managing director of Statoil.

He added: “We see initial applications in vessels, with long term potential to apply the same technology to rigs and platforms, which will contribute to Statoil’s ambition to reduce CO2 emissions.”

This investment comes after two previous strategic investments in Corvus from Green Marine Capital, which have been assisting Corvus in delivering on its aggressive growth strategy.

“We are building on our success in the offshore supply and service market where we have successfully demonstrated our technology is perfectly suited to the sector’s stringent performance, safety and operational requirements,” said Andrew Morden, CEO and president of Corvus Energy.

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