Maritime Partners Sign Draft Basic Agreement with U.S. Coast Guard for M/V Hydrogen One Power System

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Maritime Partners Sign Draft Basic Agreement with U.S. Coast Guard for M/V Hydrogen One Power System.

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 tugboat that includes e1 Marine hydrogen generator technology that will be used for the ship’s power plant.

M/V Hydrogen One is being designed as the first ship of its kind to use new, cleaner fuel cell technology that works by converting stored methanol into hydrogen. The hydrogen produced is fed to the fuel cell on demand to generate power for the ship. In June 2023, a successful string test of this technology was completed in Gothenburg, Sweden, proving it to be a viable option as the sole energy generation source for ship propulsion.

Bick Brooks, co-founder and CEO of Maritime Partners, said:

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The signing of this agreement opens the way for us to deploy our technological capabilities.

“This brings the Hydrogen One one step closer to becoming the first ship in the world to use hydrogen generator technology, significantly reducing emissions, increasing efficiency and providing a model for cleaner energy use, as the industry continues to look for ways to decarbonize it.”

The DBA process was established by the U.S. Coast Guard to establish the rules for new and emerging 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, which is designing the tugboat; In Bourg, La. established Intracoastal Iron Works, the selected shipyard; e1 Marine, RIX Industries, Power Cell Group, among others, to meet U.S. Coast Guard requirements.

Dave Lee, Maritime Partners’ VP Technology & Innovation said:

Maritime Partners is strongly committed to the development and use of 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,”

The signing of this DBA ensures that as the M/V Hydrogen One project progresses, Maritime Partners will work on an agreed framework with the US Coast Guard for the design, deployment and technical aspects of the energy system and associated safety systems for the plan assessment, inspection and final certification of the M/V Hydrogen One.

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Maritime Partners Sign Draft Basic Agreement with U.S. Coast Guard for M/V Hydrogen One Power System. source