Ardmore shipping announces strategic investment and joint venture with element 1 corp. and maritime partners llc to deliver hydrogen power to the marine sector

Hamilton, bermuda, march 15, 2021 /prnewswire/ -- ardmore shipping corporation (nyse: asc) ("ardmore," "asc," or the "company") today announced that it has signed a letter of intent ("loi") with element 1 corp. ("e1") and maritime partners, llc ("mp") whereby the parties propose to establish a joint venture for the purpose of delivering e1's unique methanol-to-hydrogen technology to the marine sector, as well as make certain other investments as described herein. element 1 corp., headquartered in bend, oregon, is a leading developer of advanced hydrogen generation systems used to power fuel cells with broad use in mobile applications and remote locations such as marine, trucking, automotive, off-road vehicles, rail, warehousing, and backup power supply sectors.
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