Corvus Energy, a global provider of zero-emissions energy solutions for maritime, offshore, and port applications, announced it has secured an investment from Woven Capital, Toyota’s growth fund.
The fund is to accelerate the development of its growing product portfolio in battery storage and hydrogen fuel cells and to support expansion into new geographies.
“Woven Capital and Toyota will bring valuable expertise from green mobility, in both fuel cells and batteries,” said CFO of Corvus Energy, Mette Rokne Hanestad. “Having strong and active owners will continue to be important for our future success. Woven Capital makes the shareholder group even stronger.”
Corvus and Toyota have collaborated since 2021 to develop safer and more advanced marine fuel-cell systems in the industry. Corvus has engaged in more than 1,000 projects so far, and more than 50 percent of the world’s vessels with zero-emission technology now run on Corvus systems.
This investment will provide Corvus with even fuller access to Toyota’s cutting-edge expertise in fuel cells and battery technology, strengthening Corvus’s ability to bring innovations to a rapidly evolving industry.
Woven Capital invests alongside strategic investors including BW Group, Equinor Ventures, Hydro and Shell Ventures.
“Hydrogen is a fast-growing sector with established applications in many industries and is playing a pivotal part in decarbonizing shipping, energy, transportation, and heavy industry,” said Nicole LeBlanc, partner at Woven Capital. “With major maritime players embracing clean energy commitments and technologies, the market is growing rapidly. Our investment and strategic support are well-positioned to help Corvus expand its reach and solutions to continue leading the zero-emission maritime market.”
Filed Under: Electrification, Technology News