What is the story about?
What's Happening?
Corvus Energy, a leading supplier of energy storage systems (ESS) for maritime applications, has secured a $60 million growth capital investment from a consortium led by Morgan Stanley Investment Management. The funding will support Corvus's efforts to expand production capacity, innovate products, and accelerate the deployment of zero-emission solutions. Corvus Energy has delivered over 1,300 hybrid or all-electric ESS installations worldwide, contributing to significant CO2 reductions in the maritime industry.
Why It's Important?
The investment in Corvus Energy highlights the growing demand for clean energy solutions in the maritime sector, which is under pressure to reduce greenhouse gas emissions. As the industry seeks to decarbonize, companies like Corvus play a crucial role in providing sustainable alternatives to fossil fuels. The funding will enable Corvus to enhance its market leadership and meet the increasing global demand for zero-emission vessels, supporting environmental goals and offering cost savings to customers.
What's Next?
Corvus Energy plans to use the capital to expand its manufacturing capabilities and continue leading product innovation. The company aims to strengthen its position in key regions and contribute to the decarbonization of the shipping industry. Upcoming projects include the commissioning of the world's largest fully-electric vessel and fast ferry, as well as powering the first fully-electric offshore vessel. The funding round is expected to close soon, further solidifying Corvus's growth trajectory.
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