Signed Agreement Makes Way for Cleaner Marine
Vessel Technology
NEW
ORLEANS, May 3, 2024 /PRNewswire/ -- Maritime
Partners, LLC ("Maritime Partners"), a leading provider of maritime
financing solutions primarily focused on Jones Act vessels, has
received a Design Basis Agreement ("DBA") from the U.S. Coast Guard
for the M/V Hydrogen One towboat that includes e1 Marine hydrogen
generator technology that will be utilized for the vessel's power
plant.
M/V Hydrogen One is being designed as a first-of-its-kind vessel
using new, cleaner, fuel cell technology that works by converting
stored methanol to hydrogen. The produced hydrogen is output,
on-demand, to the fuel cell to generate power for the vessel. A
successful string test of this technology was completed in
Gothenburg, Sweden, in
June 2023, proving it to be a viable
option as the sole power generation source for vessel
propulsion.
"The signing of this agreement opens the pathway for us
to deploy our technological capabilities," said Bick Brooks, co-founder and CEO of Maritime
Partners. "With this, Hydrogen One is one step closer to becoming
the world's first vessel to utilize hydrogen generator technology
greatly reducing emissions, increasing efficiency and providing a
model for cleaner energy use as the industry continues to seek ways
to decarbonize."
The DBA process was established by the U.S. Coast Guard to set
the rules for new and novel technology proposed for installation on
marine vessels. Maritime Partners worked with several industry
leaders on the Hydrogen One project, including Seattle-based Elliott Bay Design Group, who is
designing the towboat; Bourg,
La.-based Intracoastal Iron Works who is the selected
shipyard; e1 Marine, RIX Industries, Power Cell Group, among
others, in order to work through the U.S. Coast Guard
requirements.
"Maritime Partners is strongly committed to developing and
utilizing sustainable, clean energy solutions, as the entire
maritime industry continues to seek alternative fuel options that
are cleaner, greener and more efficient. The development of
Hydrogen One is part of that commitment," said Dave Lee, Maritime Partners' VP of Technology
& Innovation.
The signing of this DBA ensures that as the M/V Hydrogen One
project advances Maritime Partners will be working towards an
agreed upon framework with the U.S. Coast Guard for the design,
arrangement, and engineering aspects of the power system and
associated safety systems for plan review, inspection, and eventual
certification of the M/V Hydrogen One.
ABOUT MARITIME PARTNERS
Maritime Partners, LLC is a leading provider of maritime
financing solutions, specializing in vessels that are used in the
domestic Jones Act trade. With a managed fleet of
approximately 1,850 vessels in service, we offer tailored leasing
services to operators across the full spectrum of credit quality. A
privately held company founded in 2015, Maritime Partners, LLC
provides the assets that transport the commodities that represent
the primary building blocks of the domestic economy, including
agricultural products, chemicals, aggregates, crude oil, and
refined petroleum products. Our management team leverages more than
50 years of operational experience in chartering, asset management,
shipbuilding, and financing across all marine asset classes. To
learn more about Maritime Partners, LLC please visit
www.maritimepartnersllc.com.
CONTACT:
Greg Chase
Maritime Partners, LLC
gchase@maritimepartnersllc.com
(504) 264-5870
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SOURCE Maritime Partners, LLC