Private · Company · Aksjeselskap
Corvus Energy Holding AS
↳ Brreg · companies
MoneyNOK
Group revenue
—
Group net
—
Tenders won
2
Rolled up across the parent + 2 subsidiaries — Corvus Energy Fuel Cell AS alone is —.
rollup estimate · filed konsernregnskap not yet in Intelligo
Regnskapsregisteret · rollup across ownership edges (estimate)
Group financialsNOK
One filed year on record — the trend appears when a second year is published.
Regnskapsregisteret · company_revenue
Key figuresBrønnøysund
One filed year on record — the trend appears when a second year is published.
Regnskapsregisteret · company_revenue
From the FY2025 accounts
FILEDAccounts filed for FY2025.
AUDITAudited by PRICEWATERHOUSECOOPERS AS.
GROUPFiles as a parent with 2 subsidiaries.
Regnskapsregisteret + Brreg roles · the filed accounts form. What the board wrote around the figures is in the annual report block.
From the annual report
AUDITORPwC
OPINIONNo auditor's report (revisor fravalgt)
STAFF283 full-time equivalents
21 notes from the report
Going concern The company's own form answer states there is no uncertainty about going concern (both company and group notes).
Er det usikkerhet om fortsatt drift?: NeiGoing concern The board concludes the group can continue as a going concern and the consolidated statements are prepared on that basis.
concern.The consolidated financial statement has therefore been prepared on a going concern basis.Loan or financing A USD 60 million capital raise was closed in November 2025, giving positive net cash flow of MUSD 20.2 for the year.
MUSD 60 capital raise process closed in November 2025. Net cash flow in 2025 is positive MUSD 20.2Loan or financing After conversion of the convertible loans and Senior Lead Investment Paper on 15 October 2025, no related financial liability remains at year-end.
Afer thecoersionon 15 Octobe 2025, and s at 31 Dembe 2025, no franialiabity has been reogrized reited to the coertibe n ageemets or SLP.Loan or financing Corvus Energy AS complied with all bank covenants (DNB/SEB/Export Credit Norway) during 2025.
Corvus Energy AS was compiant wth al covenants during 2025.Pledge or guarantee Assets pledged as security amounted to USD 106.1 million at end-2025, including inventory, receivables, fixed assets and right-of-use assets.
Total assets pledged as security Tade and other receivables Fixed assets Righi ofuse assets 106 072Subsidiary The consolidated accounts include a list of wholly owned subsidiaries in Norway, Canada, USA, Denmark, Netherlands, Hong Kong, Korea, Singapore and Japan.
In addition to Corvus Energy Holding AS, Ihe folowing subsidiaries are included in Corvus Energy Hoiding AS consolidated financial statements.Share capital Group share capital increased to USD 1 063 thousand from USD 706 thousand after the 2025 share issue.
Share capital Egenkapital Innskutt egenkapital 1 063 000 706 000Staff numbers The group employed 283 FTEs in 2025, up from 241 in 2024.
The Group had 283 FTEsin 2025. (241 FTEsin 2024)Staff numbers The group had 297 permanent employees at year-end 2025, of which 19% women.
The Group had 297 permanent employees at year-end 2025, with women constituting 19 % of theRemuneration CEO remuneration is disclosed separately in the key management note.
The table below summerizes remunerafion to CEO.Remuneration Board remuneration consists of fixed fees and options determined by the board and approved by shareholders.
Bord remnesationconsists ofa combinatin of fied foesand options as deminc bythe Bod of Direcloes and approvd by th shareholdersTota fiodmunerafionRelated party The parent company holds large intercompany receivables on subsidiaries (USD 88.0 million at end-2025).
Sum fordringer Konsernfordringer 3 95 936 858 88 047 521 38 353 196 32 545 672Impairment The impairment test performed showed no impairment of intangible assets or goodwill at 31 December 2025.
The impsirment test perfomed does not indicalte any impeirment as of 31 December, 2025.Capitalised R&D Development investments, including fuel cell development, are capitalised as assets under construction once defined decision gates are met (USD 10.3 million intangible additions in 2025).
Capilalizafion of iwestmens as inlangible assets starts when defined decision gales are met.Restructuring Inventory was reviewed for damage and obsolescence as part of ongoing operations and restructuring activities, with no write-down recognised in 2025.
During the yeer ended Decermber 31, 2025,ivertory wes revewecd for damege and obsoiesoence s pert of ongoing operations and restructuring activttes. There w8s noDeferred tax Deferred tax assets of USD 42.6 million (2024: 35.7) are not recognised in the balance sheet.
Not reconied inhe balance sheef Deferred tax assetiliability 42 579 35 705Legal dispute A customer claim for defective delivery of a battery system served in late December 2020 was settled out of court.
Late December 2020 he compary was served wifh a clim from customer for defective deliveryof baftery system The claim wesettled out of court.Post balance sheet event By 10 April 2026 the group had collected MUSD 21.9 of the overdue/outstanding trade receivable amounts.
As al Apl 10, 2026, te Goup hd paicMUSD 21.9 or5% of te amounts wingOther PwC provided audit and other services to the group in 2025 and 2024 (fees disclosed in the note); no auditor's report is included in the filing.
The table belomw summerizes services provided fom PwC to the Group Guring 2025 and 2024.Other The Norwegian Tax Directorate granted permission to prepare the annual accounts and directors' report in English.
Based on a total evaluation, the view of The Directorate of Taxes is that companies mentioned above mayRegnskapsregisteret (årsberetning) · company_annual_reports