Morgan Stanley Investment Management, Just Climate and J. Lauritzen completed the acquisition of a 20% stake in Corvus Energy from Norsk Hydro for $30m.

Morgan Stanley Investment Management, a provider of investment management services, Just Climate, an investment firm, and J. Lauritzen, a maritime investment company, completed the acquisition of a 20% stake in Corvus Energy, a supplier of zero-emission solutions for maritime, offshore and port applications, from Norsk Hydro, a Norwegian aluminium company, for $30m. The sale aligns with Hydro’s strategic priorities and portfolio optimization efforts, where a decision to no longer prioritize batteries as a core growth area was communicated at the company’s Capital Markets Day 2024.