Skip to main content

Kitron: Corvus Energy enters Contract Manufacturing Agreement with Kitron

Written by Customer Service on . Posted in Public Companies.

(2021-03-19) Corvus Energy has chosen Kitron as the manufacturing partner for the company’s battery management control systems. The value of the contract is NOK 100 million.
Production will take place at Kitron’s facility in Arendal, Norway. It will be done in 2021 and 2022, with an option for extension.In addition to manufacturing of electronics modules, the contract also covers assistance towards Corvus Energy’s product redesign.“With our expansive growth and the worldwide increasing interest in zero emission technology, it is important for us to have long term strategic and trusted suppliers. We are very pleased to sign this contract with Kitron as they are a highly capable and strong sourcing partner for Corvus,” said Nils Valland, Senior Vice President Supply Chain at Corvus Energy.Corvus Energy is the leading supplier of battery systems for marine, oil and gas and port applications. Its purpose-built, field-proven battery systems provide sustained power to hybrid and all-electric heavy industrial equipment, including large marine propulsion drives.  In addition, the company just announced plans to start development and production of maritime hydrogen fuel cell systems with Toyota as a partner and supplier of mass-produced fuel cell technology.“We’re excited to be able to support Corvus Energy in its push to transform the maritime industry to an emission-free future powered by batteries and fuel cells. This fits perfectly with Kitron’s strategy of pursuing growth opportunities within electrification, a megatrend that has just started and will fundamentally alter much of the technology we use for transportation and machinery,” said Peter Nilsson, President and CEO of Kitron ASA.For further information, please contact:
Peter Nilsson, President and CEO, tel. +47 948 40 850
Hans Petter Thomassen, Managing Director Kitron Norway, tel: +47 913 92 360
E-mail: investorrelations@kitron.comKitron is a leading Scandinavian electronics manufacturing services company for the Connectivity, Electrification, Industry, Medical devices and Defence/Aerospace sectors. The company is located in Norway, Sweden, Lithuania, Germany, Poland, China and the United States. Kitron had revenues of about NOK 4.0 billion in 2020 and has about 1 800 employees. www.kitron.comThis information is published in accordance with the requirements of the Oslo Børs Continuing Obligations for stock exchange listed companies

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.