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Toyota’s Woven Capital invests in Corvus Energy to expand zero-emissions energy and international reach for maritime industry

Corvus Energy, a provider of zero-emissions energy solutions for maritime, offshore and port applications, secured an investment from Woven Capital, Toyota’s growth fund, to accelerate the development of its growing product portfolio in battery storage and hydrogen fuel cells, and to support expansion into new geographies.

Woven Capital invests alongside leading strategic investors including BW Group, Equinor Ventures, Hydro and Shell Ventures.

Corvus and Toyota have collaborated since 2021 to develop safer and more advanced marine fuel cell systems in the industry. Corvus has engaged in more than 1000 projects so far, and more than 50% of the world’s vessels with zero-emission technology now run on Corvus systems.

This investment will provide Corvus with even fuller access to Toyota’s expertise in both fuel cells and battery technology.

Hydrogen is a fast-growing sector with established applications in many industries and is playing a pivotal part in decarbonizing shipping, energy, transportation and heavy industry. With major maritime players embracing clean energy commitments and technologies, the market is growing rapidly. Our investment and strategic support are well-positioned to help Corvus expand its reach and solutions to continue leading the zero-emission maritime market.

—Nicole LeBlanc, partner at Woven Capital


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