Shell Ventures invests in Richmond energy storage company

Corvus Energy, a Richmond energy storage company, announced on Aug. 12 that they sealed the deal with Shell Ventures on a major investment that will help towards decreasing carbon footprint of energy products.

The investment aims to decrease the carbon footprint of the energy products they sell by 20 per cent by 2035 and by around 50 per cent by 2050.

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“To have strong and active owners has been crucial to our success and has taught us that by working closely with strategic investors we can achieve great results,” said Geir Bjorkeli, CEO of Corvus Energy.

He added that with Shell’s investment, Corvus can reach out to a larger market and apply their technology to more rigs and platforms for offshore vessel hybridization.

Kirk Coburn, investment director of Shell Ventures, said that “Corvus Energy is a strong partner for Shell,” adding that “current hybrid and zero-emission projects have proven that the potential for reducing costs and cutting emissions are substantial, which Shell will take advantage of in its offshore operations.”

Corvus Energy is a developer and supplier of advanced energy storage systems (ESS) for marine, oil and gas, subsea and port applications. They provide sustained power to heavy industrial equipment including large marine propulsion drives.

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