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Ardmore to establish hydrogen venture with two partners

Tanker company Ardmore and two partners will establish a joint venture to supply hydrogen to the maritime sector. As part of the agreement, Ardmore will receive USD 40 million from one of the partners.

Anthony Gurnee, CEO of tanker carrier Ardmore, establishes joint venture to supply hydrogen as fuel in shipping. | Photo: Marine Money

In collaboration with two partners, tanker company Ardmore will now work to cement the use of hydrogen in the shipping industry.

The undertaking is accompanied by a letter of intent to establish a joint venture, which aims to supply methanol-to-hydrogen technology in the maritime sector. More specifically, Ardmore has teamed up with Element 1 Corp, a developer of hydrogen generation systems for fuel cells, and financial company Maritime Partners.

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