Corvus Energy to supply Orca ESS for hybrid PSV

“> “> Corvus Energy will supply its Orca Energy ESS for the hybridisation of Farstad Shipping’s platform support vessel (PSV) Far Sun, which is being integrated by Vard Electro. The ESS will be utilised during all aspects of the PSV’s operation, particularly during dynamic positioning and harbour operations, and will provide a spinning reserve for improved response time as well as increased redundancy. Statoil, a client of Farstad Shipping that maintains a long-term charter for the PSV, is said to have been a key element in the efforts to have battery technology installed on board Far Sun. “The energy storage system will provide significant savings for Farstad and Statoil over time, enabling the ship to more efficiently utilise energy produced by the generators, as well as simplifying the use of shore power,” said Christian Søvik, VP, global services, Vard Electro. This will substantially reduce consumption and emissions. Another effect is less noise from ships in port.” In other news, Export Development Canada (EDC), a provider of financing, insurance and bonding for Canadian companies that do business outside of Canada, has closed a US$5.1m contract financing credit facility for Corvus Energy, which will allow the company to fulfil various export contracts, primarily for hybrid ferries in Europe. “The electrification of the maritime industry in Europe is accelerating, and the Orca ESS is facilitating that transition,” said Andrew Morden, president and CEO of Corvus Energy. “This credit facility will allow Corvus to aggressively ramp up production to meet the growing demand for our technology, which now leads the industry in project wins.”