Norway's Hydro invests in venture-backed Corvus Energy
Corvus Energy Inc has closed an investment with Norsk Hydro ASA, an Oslo, Norway-based aluminum supplier. Hydro acquired 25.9 percent of the company's shares for an undisclosed sum. As a result, it joined other Corvus investors, including BW Group, Statoil Technology Invest, the venture capital arm of Norwegian energy company Statoil ASA, and affiliates of El Cuervo Holdings LP. Founded in 2009, Richmond, British Columbia's Corvus is a provider of energy storage in the form of modular lithium ion battery systems. It said the deal will help scale the company's operations and accelerate market penetration.
28 November 2017•2 mins read
