Perkins Coie Represents Ardmore Shipping Corporation in its Agreements for Strategic Investment in Element 1 Corp., Establishment of e1 Marine Joint Venture, and Preferred Stock Financing

PORTLAND (June 7, 2021)—Perkins Coie is proud to announce that it represented public company client Ardmore Shipping Corporation, a provider of seaborne transportation of petroleum products and chemicals worldwide, in its agreements with Element 1 Corp. and Maritime Partners, LLC to establish a joint venture known as "e1 Marine" for the purpose of developing and commercializing Element 1's hydrogen-generating technology for maritime applications.

Perkins Coie also represented Ardmore in its related agreements to issue preferred stock to Maritime Partners and acquire an approximately 10% equity stake in Element 1. For more information, please see Ardmore's press release.

The Perkins Coie team was led by partners David Matheson, Raj Gangadean, Marcelo Halpern, and Joe Bailey, and included partners Jim Gradel, Carl Crow, and Jesse Kanach, and associates Christian Carlson, Michael Hemes, Angie Burcham, and Stefan Andreev.