Maritime Partners Acquires e1 Marine, for Undisclosed Sum

In Louisiana, Maritime Partners, a leading maritime financing firm, specializing in Jones Act trade vessels has acquired e1 Marine LLC, a pioneer in marine hydrogen generation technology, the terms of which were undisclosed.

e1 Marine specializes in methanol-to-hydrogen generation products, offering a cleaner fuel alternative for marine vessels. The technology, developed by Element 1 Corp., supports the fuel cell industry.

“This acquisition marks a significant milestone in Maritime Partners’ commitment to environmental responsibility and innovation,” said Bick Brooks, CEO of Maritime Partners. “The integration of e1 Marine’s technology promises to revolutionize marine power and promote a greener future.”

Maritime Partners is already utilizing this technology, having signed a Design Basis Agreement with the U.S. Coast Guard for the M/V Hydrogen One towboat, the first vessel to use onboard methanol-to-hydrogen conversion.

“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.

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