Maritime energy pioneer Corvus Energy has raised $60 million (approximately €51.7 million) in growth capital to expand its clean energy solutions for the global shipping industry.
The round was led by Morgan Stanley Investment Management, with participation from Just Climate and J. Lauritzen. The transaction is expected to close in the coming weeks and will bolster Corvus’s ability to scale its zero-emission technologies worldwide.
Powering the future of clean maritime transport
Founded in 2009, Corvus Energy is a global leader in maritime energy storage systems (ESS), supplying over 50% of the world’s zero-emission vessels. Its systems have been deployed in more than 1,300 hybrid and all-electric ships, delivering over 1,300 MWh of installed capacity and one million operating hours across vessel types. These installations have prevented an estimated 11 million tonnes of CO₂ emissions.
The company’s product portfolio includes advanced lithium-ion battery systems and Hydrogen PEM fuel cell systems, serving maritime, offshore, and port operations.
“We’re thrilled to welcome this new group of global investors. Their support strengthens our ability to meet surging demand for zero-emission systems and reaffirms Corvus’s leadership in maritime energy storage.”
“The maritime industry is entering a decisive decade for decarbonisation, with accelerating demand for clean-energy shipping solutions that also deliver cost savings compared to fossil-based alternatives,” said Fredrik Witte, CEO of Corvus Energy.
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Capital to drive production, innovation, and emissions reduction
Corvus Energy will use the new funds to expand manufacturing capacity, accelerate system deployments, and further develop its product line. The company’s mission aligns with reducing emissions from the shipping sector — currently responsible for about 3% of global greenhouse gas emissions.
Operating from 15 global locations, including production facilities in Norway, Canada, and the United States, Corvus designs scalable ESS platforms that cover multiple chemistries and performance profiles.
Flagship projects leading the way
Corvus recently supplied the energy storage system for the world’s largest fully electric vessel, a fast ferry built by Incat for South American operator Buquebus. The ship features 42 MWh of Corvus’s Dolphin Energy ESS and is scheduled for commissioning later this year.
Another milestone project is the Blue Whale, the world’s first fully electric offshore vessel. Corvus’s 25 MWh LFP-based battery system powers the eCSOV — marking the largest LFP installation in maritime history.
“We’ve invested heavily in product innovation to help shipowners cut both emissions and operational costs,” said Mette Rokne Hanestad, CFO of Corvus Energy. “This capital gives us the firepower to scale while maintaining our technological edge — supporting a more sustainable maritime future.”
Meet the investors
- Morgan Stanley Investment Management oversees $1.7 trillion in assets with more than 1,400 professionals worldwide, providing investment management to governments, corporations, and institutions.
- Just Climate, founded by Generation Investment Management, focuses on funding large-scale decarbonisation in high-emission sectors to drive the transition to net zero.
- J. Lauritzen, a Danish maritime investment group established in 1884, has a 135-year heritage in shipping and continues to back innovative technologies shaping the industry’s future.
About Corvus Energy
Corvus Energy is a Norwegian maritime energy company that develops battery and fuel cell systems for hybrid and zero-emission vessels. Its solutions help shipowners and operators reduce costs, enhance performance, and eliminate emissions. With over 1,300 systems deployed globally, Corvus is leading the shift toward a cleaner, more efficient maritime industry.
