Corvus Energy Ltd., a provider of purpose-engineered energy storage solutions for marine, oil & gas and port applications, has closed a $5.52 million round of venture financing led by BW Ventures, a venture fund controlled by the BW Group in Singapore, and Statoil Technology Invest (STI) of Norway, undisclosed family offices and private investors
Family offices of Ross Beaty and Tim Kerr (Springhouse Investments Corp.) are among previous investors.
The new financing follows a $3 million round in December 2016 also led by BW Ventures.
Founded in 2009, Corvus Energy has offices in Richmond BC and Bergen, Norway. The company has the largest installed base of ESSs with the largest number of projects completed in the maritime industry.
photo credit: Corvus Energy