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.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Norden books "fantastic" second-quarter result

Product tanker and dry bulk company Norden bags a result for the second quarter that the carrier itself describes as ”fantastic.” CEO Jan Rindbo says this is due to the ”exceptional” product tanker rates, according to a financial statement.

Further reading

Related articles

Latest news

See all jobs