e1 Marine Acquisition Provides New
Opportunities for Cleaner Fuel
NEW
ORLEANS, July 1, 2024 /PRNewswire/ -- Maritime
Partners, LLC ("Maritime Partners"), a leading provider of maritime
financing solutions primarily focused on Jones Act vessels, has
completed the successful acquisition of e1 Marine LLC ("e1
Marine"), a pioneer in hydrogen generation technology for the
marine sector.
e1 Marine provides clean energy technologies, including advanced
methanol-to-hydrogen generation products, which provide an
alternative, cleaner fuel source for marine vessels. The technology
comes from Element 1 Corp., a leading developer of advanced
hydrogen generation systems supporting the fuel cell industry.
"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-hydrogen technology with
Maritime Partners' extensive industry expertise promises to
revolutionize marine power applications and pave the way for a
greener future."
Utilization of the e1 Marine generation technology by Maritime
Partners is already underway. In May, Maritime Partners signed a
Design Basis Agreement ("DBA") with the U.S. Coast Guard for its
M/V Hydrogen One towboat, a first-of-its-kind vessel to use the
new, cleaner technology which converts stored methanol into
hydrogen onboard the vessel.
"As the licensor of compact, scalable, and energy efficient
methanol-to-hydrogen technology to e1 Marine, Element 1 Corp looks
forward to fully supporting Maritime Partners and e1 Marine in
their effort to revolutionize marine propulsion," said Dave Edlund, co-founder and CEO of Element 1
Corp. "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."
As the maritime industry continues to seek ways to
decarbonize, Maritime Partners believes this technology has
the potential to greatly reduce emissions and increase fueling
efficiency while also providing a model for cleaner energy use.
"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 Hydrogen One are integral parts of that ongoing commitment."
ABOUT MARITIME PARTNERS
Maritime Partners is a leading provider of maritime financing
solutions, specializing in vessels that are used in the domestic
Jones Act trade. With a managed fleet of approximately 1,900
vessels in service, we offer tailored leasing services to operators
across the full spectrum of credit quality. A privately held
company founded in 2015, Maritime Partners provides the assets that
transport the commodities that represent the primary building
blocks of the domestic economy, including agricultural products,
chemicals, aggregates, crude oil, and refined petroleum products.
Our management team leverages more than 50 years of operational
experience in chartering, asset management, shipbuilding, and
financing across all marine asset classes. To learn more about
Maritime Partners please
visit www.maritimepartnersllc.com.
ABOUT e1MARINE
About e1 Marine: e1 Marine provides clean energy
technologies, including advanced methanol to hydrogen generation
products supporting the fuel cell industry. Our innovative approach
to utilizing methanol-to-hydrogen technology has the potential to
significantly reduce emissions in the marine sector, contributing
to a sustainable and eco-friendly maritime environment.
Follow e1 Marine on LinkedIn and Twitter and
visit www.e1marine.com for more information.
ABOUT ELEMENT 1 CORP
Element 1 Corp. (Bend, Oregon)
is a leading developer of advanced hydrogen generation systems
supporting the fuel cell industry. Element 1 has developed
innovative products that are scalable, reliable, affordable, and
provide flexibility allowing for easy integration into customer
solutions. With expertise in small-scale reactor design and
membrane-based hydrogen purifiers, Element 1 offers solutions for
on-site hydrogen generation, grid-independent electrical power
generation to support BEV charging and microgrid applications, and
mobile (onboard) hydrogen generation (fuel cell electric vehicles).
Novel technology is licensed by Element 1 to its partners, enabling
the application of technologies across a wide range of products,
markets, and applications. For further information please visit
www.e1na.com.
CONTACT:
Greg Chase
Maritime Partners, LLC
gchase@maritimepartnersllc.com
(504) 264-5870
Dave Lee
Maritime Partners, LLC
dlee@maritimepartnersllc.com
(812) 946-0578
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SOURCE Maritime Partners, LLC