Corvus Energy is to receive funding of up to C$6m (US$4.6m) from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) to support a research and development project creating the next generation of energy storage and digitization technologies for marine vessels.
“Funding from NRC IRAP and other Canadian government programs has been instrumental for Corvus, not only in assisting our product development over the years, but also in opening new markets and helping us attract our investment partners,” said Sean Puchalski, EVP of strategy and business planning for Corvus Energy.
“We have grown to be one of Canada’s leading clean-tech companies with expertise recognized throughout the global marine industry. We are immensely thankful for the financial assistance from the Government of Canada.”
The multi-year R&D project will be undertaken in Corvus Energy’s main research, engineering and product development center in Richmond, British Columbia, Canada.
“With decarbonization efforts intensifying globally, Corvus continues investing in innovative products and services to remain at the forefront of evolving energy conservation and emissions reduction practices in the marine industry,” said Geir Bjørkeli, CEO of Corvus Energy. “As our operations and customer base grow around the world, we discover seemingly limitless opportunities for energy storage, underlining the growing importance of continuing to develop our R&D, digitization and commercialization expertise, in Canada and throughout our organization.”