HAMILTON, Bermuda, June 4, 2021 /PRNewswire/ -- Ardmore Shipping Corporation (NYSE: ASC) ("Ardmore" or the "Company") today announced that it has entered into definitive agreements for the previously announced strategic investment into Element 1 Corp.'s unique methanol-to-hydrogen technology, including the establishment of the e1 Marine joint venture and Ardmore's purchase of an approximately 10% equity stake in Element 1 Corp.
In a related transaction, Ardmore also entered into a definitive agreement for Maritime Partners, LLC to invest at least $25 million and up to $40 million in the Company's newly created Series A 8.5% Cumulative Redeemable Perpetual Preferred Shares.
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