Global aluminium supplier acquires ownership stake in Corvus Energy

Corvus Energy has finalised an investment deal with Norwegian aluminium supplier Hydro. Through the private placement, Hydro has purchased 25.9% of the shares in Corvus Energy, which is jointly held by BW Group, Statoil Technology Invest and investors affiliated with El Cuervo Holdings Limited Partnership. “We see that energy storage and battery solutions are an increasingly important part of the future of energy systems, and as a significant energy player – both as a power producer and consumer of energy – we want Hydro to be developing this industry further,” said executive VP for energy and business development at Hydro, Arvid Moss. Established in 1905, Hydro is one of the world’s largest fully integrated aluminium companies, with more than 35,000 employees, and operations in 40 countries on all continents.