• Morgan Stanley’s 1GT climate fund leads $60 million Series E to expand Corvus Energy’s global low-carbon maritime battery systems.
• Consortium includes Just Climate and J. Lauritzen, targeting zero-emission shipping growth.
• Funding strengthens industrial-scale decarbonization in one of the hardest-to-abate transport sectors.
Norway’s Corvus Energy Secures Major Climate Investment
Bergen-based Corvus Energy has raised $60 million in new growth capital led by Morgan Stanley Investment Management’s 1GT climate equity strategy, joined by Just Climate and J. Lauritzen. The investment will help scale the company’s advanced Energy Storage Systems (ESS) for electric and hybrid-powered vessels—positioning it at the center of the maritime sector’s decarbonization push.
The financing comes amid mounting pressure on the global shipping industry to curb emissions under tightening International Maritime Organization (IMO) targets. With vessels accounting for around 3% of global greenhouse gas emissions, battery-driven propulsion is increasingly seen as a viable pathway toward net zero for shorter routes and auxiliary operations.
Strategic Partners Target the Hard-to-Abate Maritime Sector
1GT, Morgan Stanley’s private climate equity arm, focuses on companies delivering measurable gigaton-scale emissions reduction. The Corvus Energy deal expands its portfolio into maritime clean tech, an area historically overlooked in climate finance due to operational complexity and long asset cycles.
“Corvus Energy is the global market leader for a reason—their battery systems have an unmatched history of maritime safety, innovation and commercial competitiveness,” said Vikram Raju, MSIM’s Head of Climate Private Equity and 1GT. “Maritime decarbonization is a core theme for 1GT, and we are honored to support Corvus in this next phase of growth.”
The consortium’s participation brings both capital and industry depth. Just Climate, founded by Generation Investment Management, channels institutional capital toward scalable climate solutions, while J. Lauritzen’s maritime expertise adds operational insight into fleet deployment and lifecycle performance.
Expanding Global Reach in Clean Energy Storage
Founded in 2009 and headquartered in Norway since 2019, Corvus Energy is already one of the world’s leading providers of low-carbon ESS for maritime use. Its systems are installed in over 1,300 vessels globally, delivering more than 1,300 MWh of power across Europe, North America and Asia.
The company’s technology integrates high-capacity lithium-ion batteries with intelligent energy management systems that optimize onboard power use, reduce fuel consumption, and enable hybrid or fully electric operations. The systems are used across vessel types—from ferries and offshore supply vessels to cruise liners—allowing operators to meet both regulatory and commercial demands for cleaner operations.
Chief Executive Fredrik Witte said the new investment “strengthens our ability to meet surging global demand for zero-emission solutions in the maritime space,” adding that the consortium’s involvement “provides the capital and strategic support we need to accelerate growth globally.”
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Maritime Decarbonization Gains Investor Momentum
The Corvus transaction illustrates a broader shift in climate finance toward industrial and infrastructure applications, as investors seek tangible carbon reduction at scale. Maritime battery technology is becoming a critical piece of that puzzle, particularly in regions where regulatory pressure and green corridors are advancing rapidly, such as Northern Europe and North America.
Norway, where Corvus is headquartered, has become a testbed for low-emission shipping technologies, driven by state-backed incentives and early market adoption among ferry operators. Corvus’s expansion will likely benefit from this ecosystem as it scales production and deepens partnerships with shipbuilders and port authorities.
Global Implications for Climate Investors
For institutional investors, the deal reflects growing appetite for climate-linked private equity in sectors that blend hard technology with measurable decarbonization outcomes. Shipping’s emissions challenge—combined with its dependence on fossil fuels—makes it a natural candidate for such targeted investments.
By leading the funding round, Morgan Stanley’s 1GT not only reinforces confidence in Corvus Energy’s technology but also demonstrates how mainstream finance is moving deeper into industrial decarbonization. As global maritime regulations tighten and zero-emission vessel demand accelerates, the partnership is positioned to play a defining role in shaping the future of clean shipping.
At a time when capital allocation is shifting from commitments to execution, the Corvus Energy investment reflects a clear direction of travel: scaling technologies that convert climate ambition into operational impact.
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