Maritime Partners has completed the successful acquisition of e1 Marine, a pioneer in H₂ generation technology for the marine sector. This acquisition marks a significant step forward in the quest for cleaner, more sustainable fuel sources within the maritime industry.

e1 Marine, known for its advanced methanol-to-H₂ generation products, offers an alternative, cleaner fuel source for marine vessels. This innovative technology, developed by Element 1 Corp., provides a sustainable solution by converting methanol into H₂, which can then be used to power fuel cells. The result is a significant reduction in emissions and an increase in fueling efficiency.

“This acquisition marks a significant milestone in Maritime Partners’ commitment to environmental responsibility and innovation,” said Bick Brooks, co-founder and CEO of Maritime Partners. “The integration of e1 Marine’s cutting-edge methanol-to-H₂ technology with Maritime Partners’ extensive industry expertise promises to revolutionize marine power applications and pave the way for a greener future.”

The practical applications of e1 Marine’s technology are already being realized. In May, Maritime Partners signed a design basis agreement (DBA) with the U.S. Coast Guard for its M/V H₂ One towboat, a groundbreaking vessel that utilizes the new methanol-to-H₂ technology. This innovative approach allows the towboat to convert stored methanol into H₂ onboard, showcasing the potential for widespread adoption of this cleaner technology.

Dave Edlund, co-founder and CEO of Element 1 Corp. said, “As the licensor of compact, scalable, and energy-efficient methanol-to-H₂ technology to e1 Marine, Element 1 Corp looks forward to fully supporting Maritime Partners and e1 Marine in their effort to revolutionize marine propulsion. The commitment of Maritime Partners to environmental stewardship, combined with their capability to execute, are truly impressive and Element 1 is proud to be part of the team.”

Maritime Partners’ acquisition of e1 Marine aligns with the broader maritime industry’s goals to decarbonize and seek alternative, cleaner fuel options. By leveraging e1 Marine’s technology, Maritime Partners aims to set a new standard for environmental stewardship in the sector.

“Maritime Partners is strongly committed to developing and utilizing sustainable, clean energy solutions, as the entire maritime industry continues to seek alternative fuel options that are cleaner, greener, and more efficient,” said Dave Lee, Maritime Partners’ VP of Technology & Innovation. “The acquisition of e1 Marine and the development of H₂ One are integral parts of that ongoing commitment.”