BYD Energy Storage $1211 (-1,03%) a leading energy storage company, and Corvus Energy AS , a leading provider of marine energy storage systems (ESS), announced the signing of a Memorandum of Understanding (MoU) to establish a strategic collaboration to further develop next-generation battery solutions for the maritime sector.
The MoU strengthens the collaboration between the two companies by combining BYD Energy Storage's scale and technological leadership in LFP batteries with Corvus Energy's unparalleled expertise in maritime ESS applications. Together, BYD Energy Storage and Corvus will work to accelerate product development, improve global market reach and provide innovative, safe and highly efficient energy storage solutions for the global marine industry.
Under the agreement, BYD Energy Storage and Corvus Energy will coordinate their global market activities to accelerate the adoption of marine energy storage systems and support the shipping industry's transition to cleaner and more sustainable operations.
Corvus Energy will act as ESS system partner and route-to-market partner, leveraging its proven expertise in system integration and strong customer relationships worldwide.