Friday, July 19, 2024

Riviera – News and Information Center

Maritime Partners Acquires e1 Marine for Hydrogen Generation Technology Integration in Marine Sector

Maritime Partners Acquires e1 Marine to Revolutionize Marine Power with Hydrogen Technology

Maritime Partners has recently completed its acquisition of e1 Marine, a move that will pave the way for the implementation of cutting-edge hydrogen generation technology in the maritime sector. The US-based owner and financier of Jones Act vessels, including fleets of inland towboats, made this strategic acquisition as part of its commitment to adopting cleaner and more sustainable fuel sources within the industry.

e1 Marine is known for its development of advanced methanol-to-hydrogen generation products that power fuel cells on vessels using Element 1’s technology. This innovative solution for converting methanol into hydrogen and fuel cells will be soon installed on the first US-built inland pusher boat to be powered by hydrogen, aptly named “Hydrogen One,” scheduled for operation in 2025 or 2026. The vessel was designed by Elliott Bay Design Group.

Maritime Partners’ co-founder and chief executive, Bick Brooks, expressed enthusiasm for the acquisition, stating, “This acquisition marks a significant milestone in Maritime Partners’ commitment to environmental responsibility and innovation. The integration of e1 Marine’s methanol-to-hydrogen technology with Maritime Partners’ industry expertise will revolutionize marine power applications and pave the way for a greener future.”

The company has also signed a design-basis agreement with the US Coast Guard for the “Hydrogen One,” further solidifying its dedication to incorporating eco-friendly technologies in its fleet. Maritime Partners aims to utilize this technology on more projects in a bid to decarbonize the maritime industry and establish a new standard for environmental stewardship in the sector.

Dave Edlund, co-founder, and chief executive of technology licensor Element 1, expressed his support for Maritime Partners’ forward-looking approach, emphasizing the importance of such initiatives in driving the industry towards a more sustainable future.

This acquisition comes as the maritime industry increasingly focuses on environmental issues and the transition towards low-carbon and zero-emissions shipping. Events such as Riviera’s Maritime Decarbonisation conference in Europe are key platforms for stakeholders to explore and implement solutions for a greener maritime sector.

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