Corvus puts forward leasing for energy storage systems

Norway-based energy storage company Corvus Energy is now offering a global lease financing product in cooperation with Viridis Kapital to accelerate shipping’s green transition.

Traditional equipment-secured bank financing is not always available and it often requires a large upfront equity commitment.

Corvus Energy, a supplier of energy storage systems (ESS) for maritime, offshore, subsea and port applications, now offers a leasing solution tailor-made to fit the operating cashflow of the business of their customers, reducing the investment barrier for shipowners.

The offer is launched in cooperation with Norwegian leasing company Viridis Kapital that specializes in the financing of capital-intensive equipment which is contributing to the green transition.

Halvard Hauso, CCO of Corvus Energy, said: “In almost all vessel segments, leasing can be a new business model for both containerized ESS solutions as well as ESSs in dedicated battery rooms. We believe this new offering will accelerate the shift towards zero-emission solutions on both retrofits and newbuilds.”

Some of the advantages listed for this leasing solution include no upfront capital investment and competitive rates that lead to a financially efficient solution; write down of equipment in line with loss of equipment value; improved liquidity as the equipment acquisition cost is distributed over the period of use; full rights of use of the equipment; better ratio on balance sheets and higher tax reduction, maximizing operating capital.

In January, Corvus Energy introduced the Corvus BOB, a containerized battery room solution for maximum flexibility in Battery-On-Board (BOB) vessel applications.

“Battery is the enabler for all future fuels. The Corvus BOB along with leasing options will make it easier for shipowners to invest in green technology to modernize their fleets. Both the Battery-On-Board and our new leasing solution will help push the green transition towards a more sustainable shipping industry,” said Hauso.