/PRNewswire/ Ardmore Shipping Corporation (NYSE: ASC) ("Ardmore", the "Company" or "we") today announced results for the three months ended March 31, 2021..
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Ardmore Shipping Corporation announced results for the three months ended March 31, 2021.
Highlights and Recent Activity
Reported a net loss of $8.5 million for the three months ended March 31, 2021, or $0.26 loss per basic and diluted share, which includes unrealized gains on derivatives; losses adjusted for these gains (see Adjusted (loss) / earnings in the Non-GAAP Measures section) are $8.6 million, or $0.26 Adjusted loss per basic and diluted share. This compares to net income and adjusted earnings of $6.5 million, or $0.20 earnings per basic and diluted share for the three months ended March 31, 2020.
Mar 17 2021 Ardmore Shipping Corporation ( Ardmore, ASC, or the Company ) announced that it has signed a Letter of Intent ( LOI ) with Element 1 Corp. ( E1 ) and Maritime Partners, LLC ( MP ) whereby the parties propose to establish a joint venture for the purpose of delivering E1 s unique methanol-to-hydrogen technology to the marine sector, as well as make certain other investments as described herein. Element 1 Corp., headquartered in Bend, Oregon, is a leading developer of advanced hydrogen generation systems used to power fuel cells with broad use in mobile applications and remote locations such as marine, trucking, automotive, off-road vehicles, rail, warehousing, and backup power supply sectors. E1 s proprietary technology produces hydrogen on demand at the point of consumption, eliminating the logistical challenges and costs inherent in distributing compressed hydrogen.
Ardmore Shipping Corporation (NYSE: ASC) (“Ardmore,” “ASC,” or the “Company”) today announced that it has signed a Letter of Intent (“LOI”) with Element 1 Corp. (“E1”) and Maritime Partners, LLC (“MP”) whereby the parties propose to establish a joint venture for the purpose of delivering E1’s unique methanol-to-hydrogen technology to the marine sector, as well .
Ardmore has teamed up with E1 and Maritime Partners to set up a joint venture that would deliver E1's methanol-to-hydrogen technology to the marine sector.