Corvus Energy, a global leader in zero-emissions energy solutions for maritime, offshore, and port applications, has announced a significant investment from Woven Capital, Toyota’s growth fund.
This move aims to accelerate the development of Corvus Energy’s expanding product portfolio, particularly in the areas of battery storage and hydrogen fuel cells. The investment will also facilitate the company’s strategic expansion into new geographical markets.
“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. 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,” stated Nicole LeBlanc, partner at Woven Capital.
Woven Capital joins a group of prominent strategic investors, including BW Group, Equinor Ventures, Hydro, and Shell Ventures, in supporting Corvus Energy’s mission. The collaboration between Corvus and Toyota dates back to 2021, with a focus on advancing safer and more advanced marine fuel cell systems. With a track record of over 1000 projects, Corvus has played a pivotal role in powering more than 50% of the world’s vessels equipped with zero-emission technology.
“We are very excited about this strategic investment from Woven Capital, which validates our leading position in a fast-growing market. Woven Capital and Toyota will bring valuable expertise from green mobility, in both fuel cells and batteries. With new key partners, we are strengthening our Asian presence which will be one of the most important markets going forward. Having strong and active owners will continue to be important for our future success. Woven Capital makes the shareholder group even stronger,” commented CFO of Corvus Energy, Mette Rokne Hanestad.
This investment represents a significant step forward for Corvus Energy, providing enhanced access to Toyota’s cutting-edge expertise in both fuel cells and battery technology. The collaboration aims to strengthen Corvus’s capabilities, empowering the company to introduce innovative solutions to meet the evolving demands of the maritime industry.
