Maritime Partners, LLC, 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, according to PRNewswire.
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.
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 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 a leading provider of maritime financing solutions, specializing in vessels that are used in the domestic Jones Act trade.
e1 Marine provides clean energy technologies, including advanced methanol to hydrogen generation products supporting the fuel cell industry.
Element 1 Corp. (Bend, Oregon) is a leading developer of advanced hydrogen generation systems supporting the fuel cell industry.