Company: ASC
Filing Date: 2025-07-30
Form Type: 6-K
Source: 0001558370-25-009775
Chunk: 24

Company: Ardmore Shipping Corp
Filing Date: 2025-07-30
Form: 6-K
Chunk 24
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 Company purchased a10% equity stake in Element 1 Corp (“E1”), a developer of advanced hydrogen generation systems used to power fuel cells. The Company’s10% equity stake consists of581,795shares of E1’s common stock and the Company also received warrants to purchase286,582additional common shares of E1 common stock, which warrants expired unexercised in June 2024. The Company holdsoneboard seat out offive, resulting in20% voting rights at the board level and thus an ability to exercise significant influence in E1. Accordingly, the Company accounts for the investment in the common shares of E1 using the equity method in accordance with FASB Accounting Standards Codification 323, Investments – Equity Method and Joint Ventures (“ASC 323”).The Company records its share of earnings and losses in its investment in E1 on a quarterly basis, with an aggregate loss of $0.2million recognized during the six months ended June 30, 2025 (2024: $0.1million).The Company recorded an investment of $4.3million, which is included in investments and other assets, net in the condensed consolidated balance sheet as of June 30, 2025.e1 Marine LLC- On June 17, 2021, the Company established a joint venture, e1 Marine LLC, with E1. and an affiliate of Maritime Partners LLC (“MP”), which seeks to deliver E1’s hydrogen delivery system to the marine sector, with each joint venture partner owning33.33% of e1 Marine LLC. In May 2024, the Company sold its33.33% stake in e1 Marine for $1.65million and recognized a gain of $0.5million. This gain is included as a component in loss from equity method investments, in the consolidated statement of operations for the year ended December 31, 2024.​​

#### F-9
Ardmore Shipping Corporation Notes to the Unaudited Interim Condensed Consolidated Financial Statements For the six months ended June 30, 2025 and June 30, 2024 (Expressed in thousands of U.S. Dollars, except for shares and as otherwise stated)

4. Debt

As of June 30, 2025, the Company had loan facilities, which it has used primarily to finance vessel acquisitions or vessels under construction and also for working capital. The Company’s applicable ship-owning subsidiaries have granted first-priority mortgages against the relevant vessels in favor of