World News
Tanker Firm Ardmore Backs Hydrogen Fuel Cells for Shipping
Tanker company Ardmore Shipping is lending its support to hydrogen fuel cells as a zero-carbon maritime energy source with an investment in a joint venture developing the technology.
Ardmore has formed a joint venture with Element 1 (E1) and Maritime Partners, called E1 Marine, to develop E1's methanol-to-hydrogen fuel cell system for the shipping industry, the company said in an emailed statement on Tuesday. The technology uses methanol as a hydrogen carrier.
"We are excited about the market opportunity for E1's methanol-to-hydrogen technology," Anthony Gurnee, CEO of Ardmore, said in the statement.
"We believe it is safer and cheaper than other alternatives for onboard hydrogen delivery and, when using standard methanol, is operationally cost competitive with diesel engines even today, while emitting zero particulates, zero NOx, zero SOx, and 30-50% less carbon than a diesel engine of the same power rating.
"The E1 system is carbon-neutral when run on renewable methanol, should prove to be very cost competitive with other alternatives, and if desired can be built or retrofitted to run on ammonia."
The three firms will hold equal stakes in the joint venture.