Ardmore shipping announces definitive agreements on strategic investment in element 1 corp., establishment of e1 marine joint venture, and preferred stock financing

Hamilton, bermuda, june 4, 2021 /prnewswire/ -- ardmore shipping corporation (nyse: asc) ("ardmore" or the "company") today announced that it has entered into definitive agreements for the previously announced strategic investment into element 1 corp.'s unique 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 million and up to $40 million in the company's newly created series a 8.5% cumulative redeemable perpetual preferred shares.  ardmore also announced that e1 marine has hired mr.
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