Element 1 Corp., Ardmore Shipping and Maritime Partners are planning a joint venture, whereby Ardmore will make a strategic investment in e1, and will establish a joint venture for the purpose of delivering e1’s methanol-to-hydrogen technology to the marine sector.

The joint venture will be positioned to meet the needs of the marine sector for the safe and efficient delivery of hydrogen onboard for mid-size power applications, resulting in a significant and cost-effective reduction in CO₂ emissions when using standard methanol vs. gasoil, fully carbon-neutral when using renewable methanol.

Ardmore, e1, and MP will establish “e1 Marine,” each owning 33.3% of the joint venture.  e1 Marine will have a worldwide mandate for the marketing, development, licensing, and sale of e1’s unique hydrogen generation systems for application to the marine industry, including shipping, refrigerated containers, offshore energy, renewable energy, passenger and leisure, and certain port infrastructure and related applications.