Ardmore Shipping Corporation has entered into definitive agreements for the previously announced investment into Element 1 Corp.'s methanol-to-hydrogen technology, including the establishment of the e1 Marine joint venture and Ardmore's purchase of an approximately 10% equity stake in Element 1 Corp.

In a related transaction, Ardmore also entered into a definitive agreement for Maritime Partners, LLC to invest at least $25 MM and up to $40 MM in the company's newly created Series A 8.5% Cumulative Redeemable Perpetual Preferred Shares. 

In February 2021, Ardmore unveiled its Energy Transition Plan (ETP) focused on three key areas: transition technologies, transition projects, and sustainable (non-fossil fuel) cargos. The ETP is an extension of Ardmore's existing strategy, building on its core strengths of tanker chartering, shipping operations, technical and operational fuel efficiency improvements, technical management, construction supervision, project management, investment analysis, and ship finance. Ardmore has established Ardmore Ventures as Ardmore's holding company for existing and future potential investments related to the ETP.