Corvus Energy has secured $60m in growth capital from an international investor consortium led by Morgan Stanley Investment Management, the Norwegian maritime energy storage supplier has announced.

The funding round includes participation from Just Climate and Danish maritime investment company J. Lauritzen, with the transaction expected to close in the coming weeks.

Bergen-based Corvus Energy, founded in 2009, claims to supply more than half of the world's zero-emission vessels through its energy storage systems (ESS). The company says it has delivered over 1,300 hybrid or all-electric ESS installations worldwide, representing 1,300 MWh of installed capacity.

"The maritime industry is entering a decisive decade for decarbonisation, with accelerating demand for clean energy shipping solutions which also deliver cost savings for our customers compared to fossil-based alternatives," said Fredrik Witte, chief executive officer of Corvus Energy.

Corvus operates across 15 locations globally with manufacturing sites in Norway, Canada, and the United States. It offers maritime ESS products spanning multiple battery chemistries and performance profiles.

Recent projects include what is described as the world's largest fully-electric vessel and fast ferry, featuring 42 MWh of its Dolphin Energy ESS, built by Incat for South American operator Buquebus and set for commissioning by year-end.

The firm is also powering an electric Commissioning Service Operation Vessel (eCSOV) called Blue Whale with nearly 25 MWh of lithium iron phosphate-based energy storage, which Corvus says is the largest LFP battery system supplied to a maritime project.

"This new capital gives us the firepower to accelerate expansion while maintaining our innovation lead, making our solutions both good for shipowners' bottom line but also for a more sustainable planet," commented Mette Rokne Hanestad, chief financial officer of Corvus Energy.

The funding will enable the energy storage specialist to expand production capacity, continue product innovation, and accelerate deployment of its solutions as the shipping industry faces increasing pressure to decarbonise.